Business Report :
To enhance liquidity support in the stock market, an agreement has been signed to disburse Tk100 crore among intermediaries at 8.25% interest.
The Capital Market Stabilization Fund (CMSF) signed a Memorandum of Understanding (MoU) with Community Bank Bangladesh, a concern of Bangladesh Police Kallyan Trust, to this end.
Md. Monowar Hossain, chief of operations of CMSF, and Shamsul Haque Sufiani of Community Bank signed the agreement on behalf of their respective institutions at the CMSF office.
The CMSF will provide the loan from its funds, and the bank will disburse funds to the selected intermediaries keeping proper collateral and documents.
The fund was created in 2021 by collecting unclaimed and undistributed dividends of the investors, which has been laid down in the listed companies for years.
The intermediaries – stock brokers, stock dealers, merchant banks, asset management companies, and market makers – will avail Tk5 crore to Tk2 crore loans to invest in the capital market.
Through the agreement, the loan disbursement process officially started at low-interest rates, says an official of the CMSF.
To avail this loan, intermediaries must maintain deposits equivalent to the loan amount in their own accounts, and thus the fund injection will be Tk200 crore into the capital market, with Tk100 crore loans from the CMSF and another Tk100 crore from brokers.
