Chairman of the Bangladesh Association of Publicly Listed Companies Salman F Rahman thinks a structural shake-up is needed to improve the overall situation in the capital market.
The business tycoon on Tuesday said the Bangladesh Bank was largely responsible for the stock market bubble-and-bust in Dec-Jan.
Emerging from a 'courtesy' meeting with the new chairman and members of market regulator Securities and Exchange Commission, he said they had discussed issues relating to the capital market.
"During the stocks crash, Bangladesh Bank increased the CRR [cash reserve ratio] and SLR [statutory liquidity reservation] rates constraining loan disbursement capacity of banks," he said.
"The big investors did not get adequate money and it caused the market to collapse," explained Salman, also deputy chairman of the Bangladesh's largest business conglomerate Beximco Group.
He also thinks that the market will be back to its usual self if the government initiatives, taken in line with the suggestion of the stocks inquiry committee, are implemented immediately.
However, quorum crisis at SEC has to go for executing the initiatives, Salman said.
The investigative panel in its findings also called for a drastic overhaul of the SEC blaming it for the share market crash that led to angry street demonstrations from retail investors in Dec-Jan.
SEC chairman M Khairul Hossain, member Helaluddin Nizami and FBCCI president AK Azad were present at the meeting.
Earlier in the morning, Merchant Bankers' Association leaders called on the head of the securities regulator. In the afternoon, the Dhaka Stock Exchange submitted pre-budget recommendations to the SEC.
The business tycoon on Tuesday said the Bangladesh Bank was largely responsible for the stock market bubble-and-bust in Dec-Jan.
Emerging from a 'courtesy' meeting with the new chairman and members of market regulator Securities and Exchange Commission, he said they had discussed issues relating to the capital market.
"During the stocks crash, Bangladesh Bank increased the CRR [cash reserve ratio] and SLR [statutory liquidity reservation] rates constraining loan disbursement capacity of banks," he said.
"The big investors did not get adequate money and it caused the market to collapse," explained Salman, also deputy chairman of the Bangladesh's largest business conglomerate Beximco Group.
He also thinks that the market will be back to its usual self if the government initiatives, taken in line with the suggestion of the stocks inquiry committee, are implemented immediately.
However, quorum crisis at SEC has to go for executing the initiatives, Salman said.
The investigative panel in its findings also called for a drastic overhaul of the SEC blaming it for the share market crash that led to angry street demonstrations from retail investors in Dec-Jan.
SEC chairman M Khairul Hossain, member Helaluddin Nizami and FBCCI president AK Azad were present at the meeting.
Earlier in the morning, Merchant Bankers' Association leaders called on the head of the securities regulator. In the afternoon, the Dhaka Stock Exchange submitted pre-budget recommendations to the SEC.
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