BSEC for simplifying bank rules to woo more foreign investment in stocks

Bangladesh Bank should simplify terms and conditions regarding foreign investment in the country’s stock market.

The observation came at a meeting organised by the Bangladesh Securities and Exchange Commission (BSEC) with the managing directors of 11 banks on Sunday. BSEC Commissioner Prof Sheikh Samsuddin Ahmed chaired the meeting.

Prof Samsuddin said expatriates have to go through different stages while investing in the stock market, which is very troublesome.

Although the BSEC has taken various initiatives to bring investment of foreigners including expatriate Bangladeshis in the stock market, it is being hampered due to some old banking rules, he said.

The BSEC commissioner sought bankers’ co-operation in simplifying the procedure. He also assured the bankers of all sorts of support from the commission in this regard.

Meanwhile, the BSEC will hold a meeting with the heads of the departments concerned of banks on Thursday to discuss ways to facilitate investment.