The Bangladesh Bank has assured the Stock Market Coordination Committee (SMCC) to consider its demand for converting margin loan into equities and to enhance loan for stock dealers up to Tk 200 million.

The assurance came from a meeting between the members of the SMCC with Bangladesh Bank Governor Dr Atiur Rahman at the BB in Dhaka Monday.

A team led by Kazi Akram Uddin Ahmed, convener of SMCC met the BB governor.

“We will review the possibility of converting margin loans to equities and raining stock broker’s loan to Tk 200 million from the existing Tk 10 million and then take the final decision,” SK Sur Chowdhury, Deputy Governor of the central bank said after the meeting.

He also said the BB is working for the development of stock market and it would continue.

“We discussed the ways how to increase banks’ investment in the stocks and the central bank assured us to consider the matter,” said Kazi Akram Uddin Ahmed,

convener of SMCC and also President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

“We discussed various issues relating stock market with the Bangladesh Bank governor for finding positive ways for bringing stability on stock market,”

DSE’s Senior Vice-President Ahmed Rashid Lali told daily sun. The central bank gave importance on the demands we made and also assured us to do the needful for the betterment of stock markets, he added.

DSE President Rakibur Rahman, President of the Bangladesh Association of Banks (BAB) Md Nazrul Islam Mazumder, Chairman of the Association of Bankers

 Bangladesh Mohammed Nurul Amin, Managing Director of the Investment Corporation of Bangladesh (ICB) Mohammad Fayekuzzaman,

Breg Gen (Retd) Wakaruzzaman, DSE’s nominated director, MA Hafiz, President of Bangladesh Merchant Bankers Association and DSE’s acting CEO Shuvra Kanti were present.