A specific policy framework should be put in place for a thriving bond market in Bangladesh, said MA Mannan, state minister for finance, yesterday. 

With the help of professionals and experts on bond market, the government will be able to take proper initiative to form an effective policy framework, he said.

The state minister spoke at a roundtable on “Financial sector, growth and budget” at The Daily Star Centre in Dhaka.

The Finance Alumni Association, a forum of the graduates of the finance department of the University of Dhaka, organised the discussion.

Md Minhaz Zia, chairman of Asian Tiger Capital Partners Investments Ltd, said a thriving bond market is a key to increasing infrastructure investment.

“If we want to position our country among the developed nations, we should take proper steps to augment infrastructure investment.”

Mannan said everyone fears to finance start-ups and young entrepreneurs as there is uncertainty whether they will get their money back.

Despite the risk, banks and financial institutions should come forward and finance true entrepreneurs after proper evaluation, he said.

The minister said the government has set up Karmasangsthan Bank which finances entrepreneurs and start-ups. “They are doing pretty well as we keep them under supervision.”  Mannan said the country has scope to increase per capita remittance.

“Indian and Sri Lankan workers earn more money than our workers because our workers are mostly unskilled and uneducated. We should train our workers to increase per capita remittance.”

AB Mirza Azizul Islam, a former adviser to the caretaker government, said a lot can be done in public private partnership area.

Arif Khan, chief executive officer of IDLC Finance Ltd, said India and China emphasise on financing start-ups.

He said the Modi government has granted three-year tax exemption to start-ups. “They know that the future of the economy depends on successful start-ups.”

Mohammed Abdul Momen, president of the alumni association, moderated the discussion. Md Mahbub-ur Rahman, deputy CEO of HSBC Bangladesh and Nazrul Islam, former CEO of Infrastructure Investment Facilitation Company, also spoke.