State-owned banks to amplify investment in stocks

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Dhaka, Jan 16: Four state-owned banks have decided to raise investment in stocks with an objective of overcoming present turmoil in the market.The banks– Sonali, Janata, Agrani and Rupali– took the decision at a meeting on Sonali Bank’s head office in Dhaka on Thursday.

Speakers at the meeting gave their opions for increase of investment in share markets.

Chairmen, chief executive officers (CEO), managing directors (MD) of the banks were present at the meeting.

Earlier on Tuesday the stocks witnessed massive fall and DSEX in Dhaka Stock Exchange (DSE) declied by 411 points last eight trading days till Tuesday.

Meanwhile, share bazaar concerned termed wrosen current situation of the market than that of 2010.

The continuous drop in share prices prompted some investors to stage demonstration and form human chain in front of DSE previous office at city’s Motijheel on Tuesday.

Realizing unsual situation in the bourses, the Finance Ministry has called meeting on January 20 to discuss the situation.

Bangladesh Bank (BB) has said it will assist implementation of the best proposal given to the central bank for bring ing stability and development in share markets.

Besides, Bangladesh Merchants Bankers Association (BMBA) representatives sat with senior secretary of Financial Institutions Division on Tuesday in this regard.

The senior secretary at the meeting said four state-owned banks have been asked for increase of investment in stocks.