SAIF Powertec launches brokerage firm

Listed logistics and container supply chain management provider SAIF Powertec has launched a sister concern, Trust Regional Equity, a TREC (trading right entitlement certificate) or brokerage licence holder of Dhaka Stock Exchange (DSE). 

Prof Shibli Rubayat-Ul-Islam, chairman of the Bangladesh Securities and Exchange Commission (BSEC), launched its website on Tuesday.

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The new generation brokerage houses should work to bring new investors and launch new products, he told the launching ceremony at Radisson Blu Dhaka Water Garden as chief guest.

The stock market is running well in all aspects, except for the secondary market, and there is little the BSEC can do about it, he said.

The market's condition will start improving from this month, when banks will start declaring dividends, he claimed.

Banks' investments in bonds are taken into account in their market expose limit but this will soon be overturned, allowing banks the opportunity to invest thousands of taka in the stock market, said Prof Islam. 

Trust Regional Equity will try to support the stock market in various ways, said its chairman, Tarafder Md Ruhul Amin, who is also managing director of SAIF Powertec.

It will try to bring foreign investment but there are some problems, he said.

Its goal is to work for the development of the capital market, said Chief Executive Officer Tanya Sharmin.

Arif Khan, vice chairman of Shanta Asset Management and former commissioner of the BSEC, also spoke at the event.