Women Entrepreneurship needs uplift Small Investors deserve more "Watch Dog" role
Says, WCCI President Mrs. Hakim Ali
Chittagong, August 14, 2007: Chittagong Stock Exchange & Women Chamber of Commerce & Industry today jointly organized a seminar for the members of the Woman Chamber of Commerce and Industry (WCCI) at the Chamber premises to aware about Stock Market Investment and in order to facilitate them for smooth share trading. Mrs. Monwara Hakim Ali, President of the Women Chamber of Commerce and Industry inaugurated the occasion as Chief Guest, while Mr. A B Siddique, Chief Executive Officer of Chittagong Stock Exchange was present as Special Guest.
Mrs. Hakim Ali in her address said “We feel proud to receive a pragmatic approach from the Chittagong Stock Exchange for our women investors by organizing a seminar on share trading that have been neglected for many years. Besides household works and regular responsibility our women investors will be able now to invest in our stock market”.
She further lamented that Securities and Exchange Commission a prime watch dog body of our Stock Market should play an effective role for the sake of small investors. “Manipulators are still remaining active in the market, sometimes snatched away their hard earned money by taking advantage of frequent policy changes by SEC, loopholes are still observed in monitoring measures, she said.
She said, “Financial Institutions should come forward for the development of women entrepreneurship by giving credit at tolerable interest rates. I am appreciating this timely approach. Today CSE has stoned another flag where our potential women investors could meet and mobilize their savings. She said, “If we set our eyes to our neighboring countries India, Srilanka and Pakistan, their stock markets are encompassed by female investors in great numbers. Our country is also percolated in that direction, but it needs guidance. Our objective is to aware our potential women investors so that they feel ebullience while investing their small savings. We should remember that investment in stock market does not always pour profit rather it is a highly risk oriented business. If we invest analytically and well equip always with adequate information, there is a little chance to loose. My earnest requests to all investors present here, please think twice before taking any final investment decision, consult with your neighbor experts about investment decision, do not invest blindly without knowing anything about the fundamentals of the company.”
Mr. A B Siddique said, “Chittagong Stock Exchange as a facilitator brought futuristic ITS (Internet Trading Service) infrastructure for the general investors. Women now do not need to present at broker office, they can route their buy/sell order from their home or offices only if they have a PC with e-mail connection. By virtue of this facility women could be a self dependant and boost their income and eventually able to participate in their household expenses.”
He said, “Our Capital Market eyes a good potentiality in the future. Many government stakes, multinational companies including leading cell phone providers expect to come to our market soon and thereby our market capitalization will be broaden further. The country's stock market will see a major development when shares valued at US$1.0 billion will be floated within the next three to six months as eight large profitable state-owned companies will go public under the Direct Listing Regulation. The top telephone company Grameen Phone are finalizing their offers to go public and this will be a positive signal to the investors. The foreign investors are impressed with the higher yield from investment in bonds in Bangladesh markets. It is just the beginning and Bangladesh stock market will really have a bang in near future.”
With the inclusion of more companies under power, telecommunications and energy sectors, the market capitalization of the bourses will cross $ 15 billion-mark from the present $ 5.50 billion and daily average turnover to $ 100 million-mark from the present average of $ 10 to $ 15 million by 2009.
Our total portfolio investment in Bangladesh stock market stood at Tk 5.09 billion as of April this year. Portfolio investment in January this year shot up by around 200 per cent over the previous month's level. Many analysts have attributed the surge in portfolio investment in local securities through merchant banks to a stable political scenario following the declaration of a state of emergency and formation of a new interim government. The portfolio investors are still in a buying mood which is a good sign for our market.
Mr. Atiquzzaman, General Manager, Compliance Department also spoke in the programme while Mr. Kamal Uddin Jalal, Deputy Manager of Investors’ Information Cell presented slides on recent capital market development in Bangladesh.
AKM Shahroze Alam
Deputy Manager
Corporate Development
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