• Financial

Bank-insurance-share market is opening

  • Financial
  • 27 July, 2021 10:36:28

Photo: Collected

News Desk: Banks, insurance and stock markets will reopen from Sunday after the Eid holiday. However, due to the restrictions announced by the government, transactions will be limited in all the three cases of banking, insurance and stock market.

The government imposed strict 14-day restrictions on Friday (July 23rd) from 8am to 12pm on August 5 as the epidemic of coronavirus infection increased at an alarming rate.

The government has issued a circular directing people not to go out of the house without the need to keep the bank open. Then came the decision to open the office of the stock market and insurance company.

The decision to open banks, insurance and stock exchanges was taken on July 20, 21 and 22 as the holy Eid-ul-Azha was celebrated on July 21. With this, they get the opportunity to spend their holidays on July 23 (Friday) and July 24 (Saturday) as it is a weekly holiday. As a result, banks, insurance and stock markets are closed for five consecutive days.

After a five-day holiday, banks, insurance and stock market stakeholders will resume operations from Sunday. As per the decision of Bangladesh Bank, the transactions of the bank will be limited.

Tomorrow, from Sunday to August 5, the bank's transactions will be from 10 am to 1:30 pm. Banks will be closed on Fridays and Saturdays during the weekly holidays. The decision was announced by the central bank before the Eid holidays began.

The Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market, decided to continue trading in the stock market under strict restrictions soon after the bank directed the bank to open a bank.

According to the decision of BSEC, the stock market will be traded from 10 am to 1 pm tomorrow, Sunday to August 5. The transaction will have a 15-minute pre-opening session as usual and a 15-minute post-closing session at the end of the transaction.

Following the decision to open banks and stock exchanges, the Financial Institutions Division of the Finance Ministry directed the Insurance Regulatory Authority (IDRA) to issue necessary instructions to ensure the services of insurance companies from July 23 to August 5.

Following such instructions from the Ministry of Finance, the IDRA decided to open an office for the insurance company under strict regulations. According to the IDRA decision, the head office and important branch offices of the insurance company will be open from 10 am to 3 pm amid tight restrictions.

Meanwhile, the government's 14-day strict ban on coronavirus infection began on Friday (July 23rd).

The police, BGB and the army are on the ground to ensure the ongoing restrictions by keeping public transport and industries closed, including controlling the movement of people.

According to the Ministry of Shipping, all types of vehicles and passenger transport on the ferry will be closed under the restrictions. Only emergency goods vehicles and ambulances will be allowed to cross in compliance with strict hygiene rules. However, outside the scope of strict restrictions, there are sectors related to the skin of sacrificial animals, food products and industries that produce products and medicines for the prevention of Covid-19.

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