Financial Stability Group to ensure better coordination

A meeting of the regulators of financial sector with the central bank Sunday decided to form a Financial Stability Group to ensure better coordination among various regulators.

bbThe Bangladesh Bank (BB) has also assured the Bangladesh Securities and Exchange Commission (BSEC) of continuing its cooperation in taking capital market-related decisions, officials said.

BSEC commissioner Md. Amzad Hossain informed the reporters of the assurance after the meeting. In the meeting the securities regulator opposed the central bank’s move seeking daily report from the merchant banks and brokerage houses, stating that such reporting might make a negative impact on the capital market.

BB deputy governor S K Sur Chowdhury in this regard said the reporting might be on weekly or monthly basis, but the decision is yet to be finalised.

“The BB will try to reduce coordination gaps with all the regulators of financial sector,” he added.

The central bank also wanted to know from the securities regulator about the progress of the Tk 9.0 billion capital market re-financing scheme, initiated to help affected small investors.