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Investors forum wants black money in stocks

Staff Correspondent: A section of retail investors yesterday demanded to allow untaxed money in the stock market to stabilise the country’s capital market.

The investors under the banner of ‘Federation of Bangladesh Capital Market Investors Forum’ made the demand at a press conference at National Press Club.

“If the government dos not allow untaxed money in the share market it will be siphoned off from the country, which will never bring any good result,” the forum leaders said in their speeches.

They also demanded exemption of interest of margin loans until the market back on the right track, financial compensation for small investors, reduction of CRR and SLR and expansion of timeline to adjust loans of commercial banks by the central bank.

Meanwhile the ‘Bangladesh Share Market Investors Welfare Club’, another organisation of retail investors, placed a 16-point proposal to stabilise the stock market, which includes allowing money whitening in the market.

Leaders of the organisation placed their proposals at another press briefing at Bangladesh Photo Journalists Association.

The proposal includes reinvestment of profit of financial institutions earned from the capital market, incentives for the stock market in the budget, allowing investment of untaxed money, suspension of forced sale and cutback of CRR and SLR to enhance fund flow in the market.

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