Institute of capital market by March
Sarwar A Chowdhury
An educational institute meant for capital market will start its journey within March this year, aiming to provide training to develop skilled human resources for the country’s stock market.
There is a huge shortage of knowledgeable persons about capital market in Bangladesh, people close to the formation of the institute said. The institution styled ‘Bangladesh Institute of Capital Market’ (BICM) will meet the requirement for skilled manpower in the capital market, they said.
A five-member BICM working committee, headed by Investment Corporation of Bangladesh (ICB) Managing Director Ziaul Haque Khondker, yesterday prepared a five-year budget for the institution.
“We will submit the budget proposal to the Board of Directors of the institute for approval,” said a member of the working committee.
After approval, the committee will write to different stakeholders of the capital market for raising fund, he said.
He said the committee suggested Tk 4 crore for the first year’s budget and Tk 30 crore for the entire five-year budget.
The committee, which was formed four months ago, also set the terms and conditions for appointing the institute’s executive president, the top post.
Initially, the BICM will offer short-term training course on capital market to any interested person including working officials in the market.
“We have plans to provide long-term training course in future. Introduction of PhD and MPhil courses is also in our future plan,” said a director of the BICM’s 12-member board.
Although former SEC chairman Mirza Azizul Islam first initiated the move to establish a capital market training institute, its progress was very slow for different reasons.