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.