The New Nation - Internet Edition

Mahmuda Shaolin

She says, "After having a clear idea about the market, I started buying shares. But, women hardly have any interest in the share market because they don't know enough about it. To attract other women to the share market, I've formed an organisation, 'Women Investors' forum'. And I've launched a campaign with my forum and I've been successful."

Meher goes on: "When I joined the share market, there were two or three women. But, the number is now about 500 and only 10 percent of them came on their own while the rest were encouraged by my forum. If the women get active in this business, then the country's capital market will get a boost and the women will be financially solvent. And the number of women investors will

increase rapidly if they get financial support."

According to sources, the number of women among investors in share market is less than one percent.

Tahmina Akhter, another female investor, says, "I began investing in the share market in 1987. I used to work in a garment factory where my salary was irregular. Then I borrowed money from my friends and relatives, and joined the share market. As a production manager of a garment factory, I had good contacts with a few banks. So, I took a loan ofTk 3 lakh against my stationery shop. I buy shares from the primary market and then sell those when the prices go up a bit."

She says the share market is a safer place for women to invest. "It was difficult for me to mn my family when I used to work in the garment factory. Now I'm fine. The women who are wasting time staying home or frustrated having failed to get a job, can invest in the share market. It'll be interesting. Despite having a prospect, women are not taking interest in the business for various reasons."

Kazi Manjur Hossain, who is involved with the share market, says women cannot join the share market mainly because they do not have money to invest. "Besides, they have little idea about the market. Furthermore, women are very careful about money. Generally, they don't want to take risk and share market business is a bit riskier."

A senior official at the Dhaka Stock Exchange (DSC) says, "It's not correct to say that there is no woman investor in" the share market. They are involved with it, but they hardly come to the share market for various reasons. They buy and sell shares over phone."

Successful women investors have identified the following reasons why women do not directly come to the share market:

#The environment in the market is not suitable for them

#They do not have a clear idea about shares or share market

#- They have no capital to invest

#They hardly want to take risks

#There is no separate booth for women

#Lack of initiatives by the authorities to attract women to the market

A female investor, requesting anonymity, says, "It's not true that all the women don't have capital. The fact is that they don't want to invest in the share market, as there is no congenial environment to come and do business. It is the responsibility of the DSC to encourage women to invest in the share market. Unfortunately, they are reluctant to take initiatives in this regard. The DSC should set up an infom1ation centre to help the women with ideas about the share market. It should also arrange workshops and symposiums to make them aware about the risks of direct investments."

Mahmudul Haque, a senior official of Hedayetullah Securities Ltd, also finds the environment in the share market unpleasant for women to join the share market. "Besides, there are financial problems and risk factors. Women have no idea about share markets. Separate workshops or symposiums need to be organised to make them familiar with the share market."

Nasiruddin Chowdhury, the chief executive officer and director of Lanka-Bangia, one of the main broker houses of the DSC, says, "It's wrong to say that women are not there in the share market. They are there, but they carry out their business over phone. There is actually no need for women to come physically to the share market because they can see the market condition online sitting at home. Shares could be bought and sold by orders over phone. And that is enough for them."

Making a pointed-reference to some neigbouring countries, Nasir said there is no direct participation of women in share markets in India and Sri Lanka. But women in Thailand and Singapore are directly involved in trading shares. Of course, the opportunity to invest by women has been created over there. Like Chittagong Stock Exchange, the DSC can arrange special training for encouraging women to invest directly.

The 1996 share market turmoil was the most dreadful incident in the country's capital market. It had made many just paupers. After that even male investors hesitate to invest. So, it is quite natural for women to be discouraged to invest in the share market.

After 1996, many initiatives, including introduction of modem technology, have been taken to put things back on track. But, no effective measure has been taken for the women investors.

Eminent economist Atiur Rahman says, "There is no active women participation, as our share markets are under-developed and there is lack of necessary information. The surrounding environment is not women friendly. If women participation can be ensured, it will have a positive impact on the country's economic growth."

According to researchers, the number of women investors in Bangladesh is very negligible. Not only in the share market, the overall the number of women investors in the country's businesses and commerce is also insignificant.

But, equal participation of men and women is necessary for rapid development of the share market.

MD. Mahbubur Rahman Bulbul

It is quite possible if a man or woman can do hard work and to get proper financial assistance for becoming a self-sustainable through any Bank or any financial Institutions, certainly she will go to a great success in life. In Bangladesh, job oppertunity is not available here. It may be for Government or Non-government sector. But every person in Bangladesh does not want to live as a jobless. Everybody has need a job for staying here.There are huge number of projects in Bangladesh for self-sustainability of a man or woman. Just need for this purpose proper initiative and financial support as per requirement. It is prime duty of Bangladesh banking sector to do wel-stublished them by financial assistance. But all goernment and non-government banks are fully failure for this purpose. Honourable Governor of Bangladesh Bank Dr. Shaleh Uddin Ahmed recently said with his speech at a seminer that NGO sector in Bangladesh are playing a vital role and they are giving their best financial assistance for creating development projects. Many kinds of important projects, fishery project is a very profitable and potential sector in Bangladesh among them to build-up a huge number of men or women entrepreneurs and to reduce poverty from Bangladesh. All men or women entrepreneurs get loan from NGOs by very easy way. The loan disburshing system of NGOs is very flexible. But Bureaucratic system of government or non-government bank is a main problem there. There are huge number of successful case stories whose became self-dependent by own initiative with NGO's financial support. Here a very successful case story of a woman micro entrepreneur who is an example that others can follow.

Microcredit could help millions of poor women to become self-sustainable and to support own family and the employees working in their projects. Ayesha Begum is a very happy and successful woman micro entrepreneur in Bnagladesh who became rich by starting Fishery project within a very short time. She is 47 years old. The name of her husband is Md. Shafar Uddin.

Her husband was a former member of Madanpur Union Porishad of Narayangonj district. He is a very popular powerful person of Madanpur area. Once, she was purely a house wife and poor. But she turned herself into a model to others by earning a very good amount of taka by selling different kinds of fish from her well established fishery project.

The name of her project is "Ayesha fishery project". It is her own project. Her academic background is upto class seven. She obtained unofficial special Degree on fishery project and she has been recognised by fisheries ministry of Bangladesh government for her great achievement. She had a great ambition about her life. She tried herself heart and soul to get a better work to stublished her family by several time. She became frustrated for not getting a suitable source of income. From that time, she took decision; she will do something in her life by self initiative.

She got married with her husband in 1990. Their conjugal life was not happy at the initial stage. They faced a lot of financial crisis. Just then, she came into touch with ASA, Madanpur Branch in Narayanganj district. First time, she got 15,000 taka from that Branch as a small female borrower in 1993. With that financial support, Ayesha started her new road map of her life. She started a fishery project in her husband's own landing area in Fulhar area of Madanpur under Bandar Thana of Narayanganj district. Gradually, she got micro loan from ASA Madanpur Branch 20,000, 25,000, 30,000 and lastly 40,000 taka. Branch Manager Md. Shafi Uddin Sheikh encouraged to build-up her fishery project every time. She is a successful mother of 2 daughters. She has been living with her family in Madanpur area of Naraynganj district for a long time. Now, she is very rich and self-sustainable women. But her previous financial condition was not rich and satisfactory. When she had needed big amount to develop her project then she got a big financial support from "ASA Madanpur Branch" of Narayanganj.

That was her turning point to positive change in her life style. At first she got 50,000/ taka as a big amount from ASA under SEL loan program in 2003. Gradually, she increased her project day by day by the profit of her business. Now she is well established and self-sustainable woman. ASA local concern authority was highly pleased with her fishery project. Lastly Ayesha Begum got 2 lakhs taka from ASA, Madanpur Branch of Narayanganj district as a Small Entrepreneur Lending (SEL) loan for investing her project. She invested that amount with all cooperation of her husband in her Fishery project and yielded good profit.

There are many kinds of fishes in her project, like as Katla, Ruee, Mrigal, Boal, Pungas, Silver curb, puti etc. are available in her different kinds of pond of her project area. She always busy with her business. She arranges all formalities for selling fishes per a week and sells as a hole by big profit. She has 15 fish ponds in her project area. She has own 5 fish ponds and she has taken liege from any other persons 10 ponds. Number of 30 workers are doing job in her fishery project. After all cost, she gets profit from her project 80,000 taka per month.

She has done all things for her family and residance by the profit of her project. She is not pleased to other NGO's and Bank. She is involed with only ASA's activities. She is always pleased to ASA's authority for the financial assistance under SEL loan program. District Manager Md. Mahmud Kadir Talukder and Additional District manager Md. Mahbubul Alam played a vital role to develop her project. It's a very successful story for any women micro entrepreneurs in Bangladesh as for example.

In this way, there are big MFIs in Bangladesh whose are playing vital role for creating a huge number of women micro entrepreneurs and empowerment of Women by their micro finance assistance. Among them- ASA, BRAC, GRAMIN Bank, BURO Tangail, Jagoroni Chakraw TMSS etc. are very popular and effective MFI in Bangladesh. ASA is one of them who is the largest MFI in the world. Here, it is very essential to explain that recently, ASA being included in the prestigious Forbes' Magazine first-ever list of the world's Top 50 Microfinance Institution (MFI). It is a tribute to ASA's outstanding work and devotion over the years. The fact that the second position has gone to Bandhan which has been nurtured by ASA says a lot about the sustainability and scalability of ASA's model. ASA provides number of six loan products in Bangladesh very successfully.

Small Entrepreneurs Lending (SEL) loan is one of them. It is very effective and successful loan program for building-up women empowerment and women micro entrepreneurs in Bangladesh. Men and women, both are highest benefited from ASA's SEL program. It is proved by many case stories in Bangladesh. Specially, a large number of women in Bangladesh is highest benefited and to built-up them self-sustainable by the financial assistance of ASA's SEL loan program. Now in Bangladesh, ASA is providing their microfinance program to 80 lacks poor and helpless people through their 4000 Branches.