BANGLADESH

The finance minister has said measures will be taken against those responsible for the stock market turmoil based on the findings of an ongoing investigation.

"Cases were filed against some of them. Further investigations based on the probe committee's report are ongoing and legal actions will be taken against those found guilty," A M A Muhith told parliament on Tuesday.

Formed in Jan 2011, the four-member inquiry team, led by Bangladesh Krishi Bank chairman Khandker Ibrahim Khaled, in its April report based mostly on interviews with stakeholders, had proposed further investigation into the volatility in the share market, saying that there had been games behind the instability.

The Securities and Exchange Commission (SEC) had been overhauled following a proposal by the Khaled-led panel. The SEC had later filed cases against several for alleged involvement in market manipulation.

The finance minister said an eight-strong panel with a secretary in charge had been launched to review the returns on government savings certificates.

In reply to another question, Muhith said Bangladesh had active Joint Economic Commission with 18 countries. The Bangladesh-Vietnam commission would meet in February, Bangladesh-Sri Lanka commission in March and Bangladesh-UAE commission in April.

He also said that during the BNP-led government, total remittance influx was Tk 193 billion, while in the first three years of the incumbent government the influx was Tk 338 billion.