Committee formed to manage Capital Market Stabilisation Fund effectively 

The finance ministry has formed a committee to devise an effective strategy for managing the Tk 1,545 crore Capital Market Stabilisation Fund (CMSF) amid reports of misuse. 

On September 24, The Daily Star reported that one-third of the CMSF's operating costs had been spent on events and honorariums for various committees.

In a notification yesterday, the finance ministry formed the six-member panel, which includes representatives from the Bangladesh Securities and Exchange Commission (BSEC), the commerce ministry, and the Registrar of Joint Stock Companies and Firms.

The panel has been asked to submit a report within 10 working days.

In 2021, the BSEC established the CMSF to retain undistributed cash and stock dividends, non-refunded public subscription money, and unallotted rights shares of listed securities.

The fund is intended to return cash and stock to shareholders or investors based on verified claims at any time. 

The fund is also used to ensure liquidity in the stock market to help maintain stability.