BB offers Tk 761cr to revamp stocks
State-run Investment Corporation of Bangladesh (ICB) is set to get Tk 760.97 crore in funds from Bangladesh Bank today.
The central bank on May 3 decided to allocate a revolving fund of Tk 856 crore in a bid to revamp the ailing stock market.
Yesterday, the fund’s surveillance committee recommended that Bangladesh Bank provide it to the ICB.
Saifur Rahman, a committee member and an executive director of the Bangladesh Securities and Exchange Commission, said the ICB would utilise Tk 760.97 crore for the secondary market.
Around 95 crore of the remaining fund will be provided on a first-come-first-serve basis to other intermediaries to invest in the market, he added.
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