 | Stock 'buy-back' system in capital market soon
08 March, 2011
Finance Minister AMA Muhith Monday said that the 'buy-back' system would be introduced in the capital market soon.
To have the planned system implemented, the Companies Act would be amended, he added.
"The Companies Act will be amended to include the policy of buy-back," Mr Muhith told reporters after a meeting with a delegation of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at his secretariat office.
Muhith said he has already instructed the concerned officials to prepare a draft of the bill, providing for 'buy-back' arrangement. "We will discuss with the stakeholders concerned while formulating the draft," he said.
"The amended Companies Act incorporating the 'buy-back' policy will be placed in parliament during the ongoing session," the minister added.
The FBCCI delegation was led by its president AK Azad. President of Bangladesh Association of Publicly Listed Companies (BAPLC) Salman F Rahman and representatives from Bangladesh Textile Mills Association (BTMA) and Rugna Shilpa Samiti attended the meeting.
The BAPLC president said they had suggested inclusion of the buy-back policy in the Companies Act. Its implementation will definitely bring large-scale improvement to the market, he asserted.
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=128453&date=2011-03-08
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