The Dhaka Stock Exchange on Tuesday differed with the Centre for Policy Dialogue on the latter’s statement that the government’s move to allocate Tk 900 crore for compensating small-scale investors was due to lack of proper governance.
‘The CPD’s statement is not giving the true picture over the allocation as the brokers are taking the money as loan which is subject to 10 per cent interest,’ DSE president Rakibur Rahman told at a press briefing while replying to a question.
He said the CPD said the government failed to punish the culprits involved in the stock market crash of 2011 and was now using taxpayers’ money to facilitate investors.
‘The money is not a gift. The government will get return from it and the small-scale investors will also be benefited,’ he said.
Rakibur said the DSE was proactive to save the investors’ interest.
‘We submitted our proposal to the National Board of Revenue to change some policies to make the market vibrant and to strengthen the economy,’ he said.
Rakibur said the listed companies should ensure proper financial reporting and the DSE was focusing on the issue currently.
DSE senior vice-president Ahmed Rashid Lali said that the bourse had set up a demutualisation cell which was working to complete the demutualisation by November.
‘We are bound by the law to complete the process within 90 days and we are working hard to keep things on course,’ he said.
-With New Age input