Bangladesh Institute of Capital Market (BICM) was established as a national institution for imparting practical capital market education and training on July 24, 2008. The Institute is gradually emerging as a center of excellence for professional development of capital market intermediaries and full spectrum of market professionals through disseminating recent and updated theoretical and practical knowledge.
The institute fulfilled the long-felt demand of market intermediaries as well as development partners. The idea was first mooted by Chittagong Stock Exchange and a feasibility study was carried out under World Bank managed multi-grant TA, FIRST initiative. The expatriate consultants recommended setting-up a “Securities Institute” in Bangladesh for bridging the gap between the competence and skills required and exist. Later, UNDP as well as ADB under their respective TA recommended for establishment of a “Securities Industries Development Center” and a “National Capital Market Institute” autonomous in nature.
BICM is housed at 18,508 sqft. area in the commercial hub of the city. BICM is equipped with state of the art education and professional training facilities as well as advanced learning amenities to arrange and organize national and international training programs, workshops, seminars and conferences. It has the capacity to accommodate 250 participants at one go in its class rooms of different capacities, conference room and computer lab. It also has break-away-session rooms and digital library for brain storming and carrying out research.
To augment the ‘Vision 2021’, The Institute is equipped with latest ICT facilities. The audio-visual and video conferencing facilities with dedicated 60 mbps fiber optics internet connection will enable the institute to establish its linkage with institutions from home and abroad in disseminating knowledge.
BICM has the unique and enriched library of the country that is the repository of business, finance, trade, banking, insurance, ICT, law and wide array of financial and other titles. To date, BICM has stocked over 10,000 physical books and in process of procuring e- books, videos and other learning and reference materials. Obtaining the permission, the Institute is also contemplating to hook up its server with the e- library of University Grant Commission, Bangladesh.
From the year 2009-10 Government is continuously financing BICM and till date the institute has been financed with an amount of Tk. 29.064 crore. From this funding, the cost of infrastructural facilities and operational expenses of the institute has been met.
On 09 December 2010, Mr. Abul Maal Abdul Muhith, honorable Finance Minister, Government of the People’s Republic of Bangladesh inaugurated the academic activities of BICM. The government has been extending its unflinching support to elevate the institute as a center of excellence.
BICM has started its flagship “Postgraduate Diploma Program in Capital Market” in January 2015 for existing professionals of capital market and those who aspire to start their career in the capital market.
To fulfill the commitment of the government of increasing awareness of general investors, BICM has been conducting ‘Investor Education Program’ at free of cost. General investors have been encouraged to assess the financial health of the listed companies prior to making investment. To date, 2900 existing investors and future/ potential investors have been trained on the basics of capital market investment. Considering the increasing demand of the investors, BICM has started offering four investor awareness programs monthly instead of two.
Till date BICM has conducted 24 “Certification Programs” of different durations (two weeks to six weeks long). A total of 508 participants have been certified on the areas of:Securities laws, Corporate governance, Financial statement analysis, Legal drafting, International financial reporting standard, Investment in capital market, Investment analysis and securities valuation, Trading software, Financial journalism etc.
To implement the recent reforms taken by Government as to allowing trading of derivatives, commodities and exchange traded fund, BICM is designing curricula and training programs on the same.
The institute also expects to start “Master’s Program on Capital Market” obtaining affiliation of the University of Dhaka.
With the help of expatriate consultant engaged under ADB- TA project, BICM has designed course materials for “Mandatory Licensing Examination for Securities Market Intermediaries”. If authorized by BSEC, the institute will impart training and conduct examination on the same.
BICM is also preparing and equipping itself to start “Distance Learning Programs” at school and college level for wide dissemination of capital market knowledge at national sphere.
There is paucity of research, case study and documentation on financial market in general and capital market in particular. BICM will put maximum emphasis and invest time, energy and efforts in research and knowledge management activities to bridge the gap. These activities of BICM will be aiming at setting standards, preparing best-practice examples, assisting policy formulation and preparing guidelines to help the stakeholders. The research outcomes, lessons of cross jurisdictional study, policy papers and recommendations will facilitate the government and policy makers in devising policy, regulator in formulating rules and professionals in implementation and practice. Co-operation from Development Partners
Since there is dearth of knowledge and expertise as of new instruments viz. derivatives, futures, commodities, exchange traded funds (ETFs), structured products, state of the art securities and settlement system, cooperation of development partners is of utmost importance to equip faculty members. This co-operation, in the form of technical assistance and fielding capital market experts, will enhance and elevate the knowledge and expertise of the faculty members for enabling them to impart quality education and training.
Bangladesh Institute of Capital Market, with the policy direction of Bangladesh government and under the leadership of BSEC, is confident to play a catalytic role in equipping a fair, transparent, informed and vibrant capital market; and poised to be a regional hub of excellence in education, research and knowledge management in the days ahead.