There is no stability in the capital market even though there is stability in the country's political arena, Information and Broadcasting Minister Hasan Mahmud said today.

"Due to political stability, the country's economy has become multi-dimensional," he said while addressing a meeting as chief guest on the capital market at the Dhaka University's Faculty of Business Studies on Thursday (5 October).

The Bangladesh Merchant Bankers Association (BMBA) organised the meeting on the occasion of World Investors' Week.

Mentioning the role of the money market and the capital market to keep the economy moving, Hasan said, "There has been a lot of growth in the money market… There has been growth in the capital market as well. However, there is still some vulnerability."

Calling for more work to bring stability to the capital market, he said, "If the money market and the capital market work together, it will help to move the country towards development."

Highlighting development of the country's economy, the minister said, "Many people have no idea how far the country's economy has increased in the last 15 years. The economy used to be [worth] $100 billion, which is now $5 billion, a five-fold increase. The size of the budget has also increased by 12 times. Without political stability, such progress would not have been possible."

Comparing Bangladesh's situation to Pakistan, he said, "Pakistan has gone into a state of bankruptcy due to lack of political stability. Militancy is rising there."

"If we can drive away fraudsters from the money market, it will be possible to enrich the country. Money market and the capital market also have some middlemen who are increasing instability, which is affecting growth.

"If they can be thrown out, the country's economy can be further advanced," Hasan said.