Let me commend the initiative and courage of AIMS of Bangladesh Limited in establishing the first ever private sector Asset Management Company which would manage the first private mutual fund of the country, for which the market has been eagerly waiting. There has been criticism by certain quarters that our Mutual Fund Regulations are too complex requiring four parties and registration under the Trust Act – which critics say deter sponsors to float mutual funds. Our Regulations were framed after careful and diligent review of best practices and in fact provide separation of functions and checks and balances which ensure investors protection and thus inspire their confidence. The emergence of AIMS has vindicated our stand and proved the detractors wrong…..
M A Syed
Chairman, Securities & Exchange Commission, Bangladesh, Aug. 29, 1999
Confidence-Building Fund–The flotation of the first private mutual fund will be a positive move for the country’s capital market to help it acquire depth and variety that it so badly needs for its turnaround and sustainable growth and maturity. The private company-Asset & Investment Management Services (AIMS) of Bangladesh Limited – that has ventured into this new area of securities investment business in an otherwise much-prolonged limp period of the stock market in the aftermath of its crash in late 1996 deserves kudos for this. It may be a small step towards deepening of the market and attracting the investors back to it but it is certainly a big one for facilitating the market to offer the right kind of variety in products that is needed for confidence building and promotion of stability. This paper would like to see this new venture of AIMS as the pacesetter for other market intermediaries to introduce new products and services. The private company that is going to float this new mutual fund will obviously have to prove its professional expertise and skill in managing it properly. A great deal of responsibility devolves on it, being the pioneer in the private sector in the launching of such an investment product. If it proves successful, that will contribute a lot to encouraging more new private initiatives in innovative investment fields. Nothing succeeds like success. A small move at this stage may then herald the beginning of many future giant steps at private initiatives for making Bangladesh move in tandem with the rest of the world in the twenty-first century ……
The Financial Express, Aug. 31, 1999
We are delighted to learn that the public subscription of your maiden launching of the AIMS First Guaranteed Mutual Fund has been heavily oversubscribed. Please accept our heartiest congratulations on your success and we wish you the very best of good fortune in the years ahead.
M A Samad
Chairman & Managing Director, BGIC, April 2, 2000
I am indeed glad to note that AIMS of Bangladesh Limited have floated the first private sector managed mutual fund inBangladesh. I take this opportunity to wish you all the very best in your future endeavors and will continue to support your company in the future projects.
D Justin M Meegoda
President & CEO, VANIK Incorporation Limited, Sri Lanka, March 15, 2000
We are pleased to note that you have floated the first private sector managed mutual fund in the country. This is great news for the capital market and we look forward to working with you in our mutual interest in the future.
G Q Chowdhury
Chief Executive Officer, Dhaka Stock Exchang, March 2, 2000
This note is just to convey to you my appreciation for your excellent article “Stock Market Surveillance”, published in The Financial Express. You have highlighted some important matters, which must be strictly attended by securities market’s self-regulatory agencies like stock exchanges. Giving vent to these concepts through the mass communication media would, I believe, make our securities market players attain greater level of consciousness related to their business responsibilities, especially in terms of protecting the interest of small investors. I should like to express the hope that you would continue to write and publish such articles on a frequent basis.
Founder Chairman, SEC, Bangladesh,
It has been a joy knowing you and seeing your pioneering efforts in the capital market. You have made a very special contribution by launching the first private mutual fund in the country.
M A Syed
Chief Election Commissioner, Bangladesh Election Commission, June 5, 2000
I am writing you to thank for participating as a designated Discussant in the high profile workshop on ‘Public Enterprise Performance & Strategy’ and sharing your thoughts on the subject. We look forward to the opportunity of interacting with you on this and other topics in the future.
Frederick T Temple
Country Director, World Bank Dhaka Office, Dec. 12, 2002
It was once again a very pleasant occasion to receive you inChittagongat the seminar ‘Investment In Share Market’. Our gratitude to you for your selfless support to the Chittagong Stock Exchange’s continuous effort to enhance investor’s awareness and to bring life to the capital market of the country. On behalf of myself and all at CSE, thank you once again.
Chief Executive Officer, Chittagong Stock Exchange, May 15, 2000
Whenever there is talk about investments, there is an immediate query ‘what the government is offering ?’ But AIMS ofBangladeshhas made the only difference. They have come forward to invest at their own accord without seeking assistance from the government. Others would be encouraged from their courageous effort which certainly would bring back confidence among the small investors in the capital market …
Shah A M S Kibria
Minister of Finance, Government of Bangladesh, Aug. 29, 1999