Merchant banks and brokerage firms Sunday sought more initiatives to stabilise the capital market along with increasing the turnover value, officials said.

The representatives of merchant banks and brokerage firms made the plea at a meeting held at the office of the state-run Investment Corporation of Bangladesh (ICB).

At the meeting chaired by ICB managing director Md. Fayekuzzaman, the representatives also proposed for a permanent re-financing fund so that merchant banks and brokerage firms can take loans with minimum interest.

Mohammad Saifur Rahman, an executive director of the securities regulator, also attended the meeting.

According to Mr. Fayekuzzaman, the representatives stressed the need for possible ways to strengthen the capital base of merchant banks those are facing a dismal situation.

"The representatives have sought soft implementation of rules to revive the capital market by creating breathing space for the banks who are not in a position of purchasing shares," Fayekuzzaman said.

According to him, the merchant bankers told the meeting that the investors who availed the re-financing scheme facility have been benefited.

"Merchant bankers have also said that they would try to facilitate the affected investors who were out of the capital market re-financing scheme," Fayekuzzaman said.

ICB managing director told the meeting that the bank's dividend declaration was comparatively better in 2015 compared to the declarations made in 2014.

"We will discuss the issues with the securities regulator," he added.

The issue of allowing IPOs (initial public offerings) with reasonable premiums was also discussed at Sunday's meeting.
Merchant banks and brokerage firms Sunday sought more initiatives to stabilise the capital market along with increasing the turnover value, officials said.

The representatives of merchant banks and brokerage firms made the plea at a meeting held at the office of the state-run Investment Corporation of Bangladesh (ICB).

At the meeting chaired by ICB managing director Md. Fayekuzzaman, the representatives also proposed for a permanent re-financing fund so that merchant banks and brokerage firms can take loans with minimum interest.

Mohammad Saifur Rahman, an executive director of the securities regulator, also attended the meeting.

According to Mr. Fayekuzzaman, the representatives stressed the need for possible ways to strengthen the capital base of merchant banks those are facing a dismal situation.

"The representatives have sought soft implementation of rules to revive the capital market by creating breathing space for the banks who are not in a position of purchasing shares," Fayekuzzaman said.

According to him, the merchant bankers told the meeting that the investors who availed the re-financing scheme facility have been benefited.

"Merchant bankers have also said that they would try to facilitate the affected investors who were out of the capital market re-financing scheme," Fayekuzzaman said.

ICB managing director told the meeting that the bank's dividend declaration was comparatively better in 2015 compared to the declarations made in 2014.

"We will discuss the issues with the securities regulator," he added.

The issue of allowing IPOs (initial public offerings) with reasonable premiums was also discussed at Sunday's meeting.