The much-awaited Bangladesh Fund, the country's
largest ever open-ended mutual fund,
is going to start its unit sale operation from today (Monday).
The officials of the state-owned
Investment Corporation of
Bangladesh (ICB), the leading sponsor of the Fund, said Finance Minister AMA
Muhith will formally inaugurate the sale
operation of the units of Tk 50 billion Bangladesh Fund at a city hotel at
4pm today.
The other sponsors are: Sonali
Bank, Janata Bank, Agrani Bank, Rupali Bank, Bangladesh Development Bank,
Sadharan Bima Corporation and Jibon Bima Corporation.
The ICB sources said the finance minister is likely to start the sale operation of the units through the possible purchase by private commercial banks.
The ICB sources said the finance minister is likely to start the sale operation of the units through the possible purchase by private commercial banks.
Finance Secretary Dr Mohammad
Tariq, Securities and Exchange Commission (SEC) Chairman Professor M Khairul
Hossain, ICB Managing Director Md Fayekuzzaman and managing directors of seven
other sponsors are expected to attend the opening ceremony.
The ICB and other sponsors took an initiative on March 6 this year to launch the country's largest ever open-ended mutualfund to support the fund-stricken stock market.
The ICB and other sponsors took an initiative on March 6 this year to launch the country's largest ever open-ended mutualfund to support the fund-stricken stock market.
They also termed Bangladesh Fund as "contingency
fund".The sponsors have already contributed Tk 15 billion to the fund and
the rest Tk 35 billion will be collected by selling
units to individuals and institutions.
Source:
Financial Express (October 10, 2011).
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