Investors may get more time to adjust stock exposure
“Considering the market situation and discussing the matter with market stakeholders, the central bank will increase the adjustment period if the government wills,” said Chowdhury.
The assurance came at a meeting between the Securities and Exchange Commission and the SEC coordination committee that comprises representatives from the finance ministry, BB, Dhaka and Chittagong bourses and the regulator.
The meeting was called to discuss ways to increase the flow of liquidity to the bruised stockmarket and rebuild investor confidence. It was the last of a series of meetings SEC held in the face of a continuous downtrend in the market.
The regulator sat with Bangladesh Merchant Bankers Association on Tuesday and the asset management companies on Wednesday.
Chowdhury said the central bank extended the adjustment period twice -- first, from July to September, and then from September to December this year. “We will observe the situation until December.”
“Bangladesh Bank always considers development of the stockmarket and it will not take any decision or step that will hurt the market and investors,” he added.