Muhith sees a strong capital market

Finance Minister AMA Muhith sees a 'strong' capital market in the next three years.

Bangladesh has been maintaining more than 6 percent economic growth on average for a decade and only a few countries have this record, he said.

“We are on the right track. If we can make some changes, many new horizons will open up within this decade,” he said.

“I believe we will have a strong capital market within three years,” Muhith said while addressing the launch of MIDAS Investment, a subsidiary of MIDAS Financing.

Earlier in November last year, the finance minister had said “the capital market would be vibrant in the next two years” riding on various reforms introduced by the government and the regulator.

“Massive reforms in the last 3-4 years have brought in stability in the market. The foundation has been built and we can move forward based on this development,” he had said.

Analysts forecast that the market, which passed tough days since the price debacle almost six years ago, will go from strength to strength this year.

And the stockmarket has already got back its rhythm. The premier bourse's key index reached the 5,500-point mark with the turnover crossing Tk 2,000 crore for the first time in more than six years. The pace continued yesterday too.

DSEX, the benchmark index of Dhaka Stock Exchange, jumped up 68.78 points, or 1.24 percent, to finish the day at 5,602.84. The turnover stood at Tk 1,668.38 crore, up from Tk 1,408.74 crore the previous day.

Gainers beat losers as 224 advanced and 78 declined, while 26 finished unchanged.