Rushanara applauded Bangladesh’s economic goals of achieving upper middle income status by 2031 and high income status by 2041
A strong and modern UK-Bangladesh financial sector partnership has the potential for mutual benefits, recently said Rushanara Ali, the Prime Minister’s trade envoy for Bangladesh.
“The basic ingredients already exist: Bangladeshi banks have a presence in the UK and UK financial services companies like HSBC and Standard Chartered Bank operate in Bangladesh. Others, including insurance companies, are exploring the market, ”she added.
Rushanara also applauded the economic goals Bangladesh has set itself to achieve upper middle income status by 2031 and high income status by 2041.
The British High Commission in Bangladesh recently hosted a webinar titled “Bangladesh Capital Markets: A New Frontier”.
Planning Minister MA Mannan attended the event as the main guest. He was joined by Rushanara Ali.
British High Commissioner to Bangladesh Robert Chatterton Dickson delivered the welcoming speech. British Deputy High Commissioner Javed Patel and Director of Development Judith Herbertson moderated various sessions.
The webinar explored how Bangladesh’s capital markets work and discussed how capital market reform and financial sector modernization in partnership with the UK can support increased private sector investment and help Bangladesh achieve achieve sustained economic growth as it enters its next 50 years.
In addition, the event highlighted the need to broaden and deepen the Bangladeshi capital markets and the opportunities for investors and issuers that the reforms could bring.
Participants shared their views on the role of regulators, the important role that pension funds and institutional investors could play, the private equity and start-up ecosystem, and the current state of the corporate market. mergers and acquisitions (M&A).
The discussion demonstrated how well Bangladesh’s economy performs compared to its neighbors and how it can make the most of this success and improve its attractiveness to investors.
HSBC Bangladesh CEO Md Mahbubur Rahman said: “Despite the challenges, Bangladesh’s economy has proven to be resilient with consistently high growth over the past decade and below regional average growth volatility. . With investment constraints by the public and private sectors like electricity and infrastructure gradually being addressed, Bangladesh has momentum in its favor as the country moves from a less developed to a developing country in 2026. “
Standard Chartered Bank Bangladesh CEO Naser Ezaz Bijoy said, “Bangladesh is bracing for M&A activity due to a likely K-shaped post-pandemic economic recovery, consolidation of market players. market and a significant unrealized potential of the country. M&A activity is much broader than the sale of distressed assets and can enable private and public sector companies to unlock greater value for themselves and their clients.
Nuzhat Anwar, Interim Country Director of the International Finance Corporation for Bangladesh, Bhutan and Nepal, said: “Well-developed domestic capital markets can be key to building more resilient financial systems – systems that better mobilize financial institutions. financing in local currency of national and foreign investors and link them. to investments. “
Srini Nagarajan, Asia Head of CDC, the UK’s development finance institution, said: “Bangladesh is one of the fastest growing economies in the world, and we believe it could become one of the fastest growing economies in the world. strongest economies in South Asia. Since 2020, it has increased its market capitalization by more than a third. Opportunities for investors and businesses are abundant, and better coordination between institutional investors, regulators, entrepreneurs and businesses, and banks will further support the development of the capital market in Bangladesh.
Robert Chatterton Dickson highlighted the role London can play in helping to meet the investment needs of Bangladesh’s private sector.
He said, “Private capital investment in business and infrastructure will play an increasing role in the next stage of Bangladesh’s growth after the country exits the least developed category. The development of new investment finance channels, both domestic and international, will stimulate business growth. and job creation. “
“London, as a preeminent global financial center and home to some of the deepest and most sophisticated international capital markets in the world, can play an important role in providing the government and the private sector of Bangladesh with a gateway to the capital markets and investors, ”he added.
The webinar was also attended by senior government officials and representatives of private and public sector organizations, including Sultana Afroz, Secretary and CEO of the Public-Private Partnership Authority, Prime Minister’s Office; Professor Shibli Rubayat Ul Islam, Chairman of Bangladesh Securities and Exchange Commission, Henry Tillman, Chairman of Graubünden Peak Services, Ifty Islam, Chairman of Asian Tiger Capital, Fahim Ahmed, Chairman of Pathao, Nishant Kumar, Chief Executive Officer of Asia at GuarantCo, Fiona Stewart, Senior Financial Sector Specialist at the World Bank, and Tarique Amin Bhuiyan, Managing Director of the Dhaka Stock Exchange.