Shibli Rubaiyat-ul-Islam, chairman of the regulatory body, said the statement was not a suggestion to buy a mutual fund, which is more profitable than a fixed savings or FDR. The ambitious statement about the insurance sector was not a suggestion to buy shares, he said, adding that buying and selling in the secondary market is a matter for investors.
Professor Shibli Rubaiyat-ul-Islam made the remarks at a press conference at the BSEC building in Dhaka’s Agargaon on Monday (February 22nd).
After taking charge of BSEC in the middle of last year, the chairman was praised for several investment-friendly decisions. He was praised as the market remained strong from last December to the last week of January. However, after a month of slump in the market, falling share prices, and the fall of the index, investors have been criticizing the BSEC chairman in a number of statements.
Shibli has made a number of encouraging remarks on mutual funds and the insurance sector since taking office.
Investors are saying that the BSEC chairman has advised them to buy these shares. But now he is being criticized for falling prices.
A journalist told Shibli that
he was impressed by talking about shares of mutual funds and insurance sector. But their market has not been good.
In reply, the BSEC chairman said, “
Mutual funds are more profitable than FDRs. I have said it before and I am still saying it.” However, this does not mean that I have asked to buy shares from the secondary market. You have to understand the meaning of the words. ‘
” I have been involved with insurance for a long time ,” he said
. I see, there is a lot of work to be done here. While I was there, I took initiative with bank insurance, insurance for small traders. Insurance still has a lot of work to do. I have spoken about insurance for this. ‘
Asked why he did not talk about other sectors, he said, “
Other sectors are also doing well.”
The BSEC chairman is also hopeful that the banking sector will make a good profit this time. He said it was time for the bank to make a profit. They have good liquidity in their hands. They will also be able to pay good dividends.