Stock Refinance Scheme
Supervision committee finalised
The three-member supervision committee to be formed to manage the Tk 900-crore capital market affected small investors’ assistance fund has got its members as the Bangladesh Bank on Thursday proposed name of its representative for the committee. Earlier the Bangladesh Securities and Exchange Commission and the Investment Corporation of Bangladesh proposed names of their representatives for the committee.
BSEC executive director Saifur Rahman said, ‘We have got three members of the committee.’
He hoped that the proposals would be finalised by the next week.
The proposed members of the committee are BB deputy general manager Anwarul Islam, BSEC ED Saifur Rahman and ICB general manager Nasir Uddin Ahmed.
As per the guideline, the representative of the BSEC would head the committee.
The committee would be formed under the memorandum of understanding which was signed among the central bank, BSEC and ICB last week.
As per the guideline which was approved by the finance ministry on August 19, the merchant banks and brokerage houses will apply for refinance loans to the supervision committee for the investors’ accounts which have already got 50 per cent interest waiver on margin loans as per the compensation package adopted by the government.
The supervision committee will approve the loans after considering the documents which would be provided with the application by the merchant banks and brokerage houses.
The supervision committee will also set a cut-off date for the application of refinance loans.
-With New Age input
