Finance Minister AHM Mustafa Kamal on Thursday suggested that the investors invest in the capital market, considering the long-term outlook.
"It's (capital market) long-term…. at least you (investors) need to think of medium-term investment...," the finance minister said.
His call came while addressing as the chief guest at the "Investors and entrepreneurs conference-2019," held at the Bangabandhu International Conference Centre in the city.
Chairman of the Bangladesh Securities and Exchange Commission (BSEC) Dr M Khairul Hossain presided over the conference.
The BSEC organised the conference to boost financial literacy among the investors.
Mr Kamal said he will sit with all relevant people of the Commission time to time to build confidence in the investors.
"Actually, I wanted to share many issues regarding the stock market, but not today, Meetings with the Commission people will continue," he said.
Terming financial literacy important for the market, the finance minister said, "This is not a kitchen market, or a fish market."
"This is the market place where you (investors) are buyers and you are sellers, so its characteristics are different from other markets."
Noting that all people in the society were not good, he said some want to be rich quickly.
"They are greedy and our religion doesn't support greed."
He noted some people always spread rumour and try to deceive others through false information.
But investors must make investment with proper understanding of the market, he argued.
Referring to the falling trend in the market, the finance minister said this is challenge for him to breathe new life into the market.
The market has shed around 500 points in the last one year.
"How long will it fall? I want to see … it's my challenge [for reviving investors' confidence]."
He said, "I will not say where the index should reach, I believe the economy will determine the index." Speaking at the function, BSEC chairman Dr M Khairul Hossain said the market capitalisation has increased in absolute terms but not in relative terms.
"The market cap has risen in absolute terms but compared with other indicators of the economy it remains much low," Dr Hossain said.
There is a need for reforming the tax regime to develop the bond market.
"We've to develop the fixed income market, which is believed to enhance the depth of the market," the BSEC chief said.
He said many problems still plague the market, for which it remains unstable. He would not elaborate.
Terming the investment education as a mighty tool, Dr Hossain said that investors must be aware of the financial literacy.
"Financial literacy is much mightier than your capital."
The BSEC chief said there is an urgent need for preparing a strategic paper on the financial literacy.
Prime Minister Sheikh Hasina inaugurated the financial literacy programme in 2017 and this conference is part of it.
BSEC commissioner Professor Helaluddin Nizami said financial literacy in the country remained poor.
This is around 18 per cent in Bangladesh, but it is 24 per cent in India, 35 per cent in Sri Lanka, and 57 per cent in the United States, Professor Nizami said, citing the statistics.
Secretary to the financial institutions division Asadul Islam, BSEC commissioners Swapan Kumar Bala, and Khondker Kamaluzzaman also spoke at the inaugural function.
