Subscription of Bangladesh Fund starts today

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Subscription of Bangladesh Fund starts today
Star Business Report

The much-awaited public subscription of Tk 5,000-crore Bangladesh Fund will start today, said Investment Corporation of Bangladesh yesterday.

Finance Minister AMA Muhith is expected to attend the programme at Hotel Radisson.

The public subscription will be for Tk 3,500 crore, as the sponsors have contributed Tk 1,500 crore.

Meanwhile, the Securities and Exchange Commission has asked the Bangladesh Insurance Association to submit a proposal of investment in the stockmarket from the fund of life insurance.

“We have urged the regulator to allot 5 percent investment opportunity in every initial public offering,” said Sheikh Kabir Hossain, president of BIA.

Eighteen life insurers have built up a fund of Tk 140 billion by setting aside part of their premium income for future payment obligations.

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