No BB intervention that hurts stock market
The stock market regulator has said that the central bank has made an assurance not to take any measure that may adversely impact the market.
“Senior officials of the Securities and Exchange Commission have had parleys with the high officials of Bangladesh Bank. The central bank officials assured the commission that they will not take any measure which would put negative impact on the market,” said Anwarul Kabir Bhuiyan, SEC's executive director.
Bhuiyan was responding to queries from general investors, who referred to a media report on the central bank's possible actions against commercial banks, at an awareness programme in Dhaka yesterday.
Merchant banking division of Prime Bank organised the programme for its clients or investors.
Bhuiyan said the commission's intervention is not aimed at pushing up or pulling down share prices. “We just want to check whether any irregularities are taking place in the market,” he said, adding that it's the commission's responsibility to protect investor interests.
He also said there is nothing to get panicky at the current market behaviour. “The market is behaving rationally,” he told the participants in the awareness programme.
Presiding over the function, Sheikh Mortuza Ahmed, head of merchant banking of Prime Bank, suggested investors refrain from panic sale and make a best utilisation of their investments.