At the meeting with the US envoy, the DSE councillors and members will urge him to invite more American companies in Bangladesh as the market is now showing a resilience, a councillor said yesterday.

The ambassador will be briefed about current market situation, electronic transaction system and central depository system, which is likely will go live from next month.

"The introduction of central depository system for electronic settlement will definitely encourage US businessmen to invest in Bangladesh capital market," the councillor said.

The capital market is recovering fast and if more quality companies can be brought in, the market will see bullish trade ahead, he said.

The DSE councillor think if US companies come to capital market with joint venture, local and foreign companies will regain confidence in the capital market.

He said many US companies wound up from capital market following 1996 share scam.

US has long been associated with DSE, he said mentioning that a US company installed automation system in DSE on August 10, 1998 for electronic transaction.

DSE Chairman Ahmed Iqbal Hasan, senior vice-chairman, vice-chairman, councillors, members and chief executive officer will be present at the meeting with the US envoy.

Chairman of the Securities and Exchange Commission (SEC) Mirza Azizul Islam will also visit the DSE on December 7. This will be his first visit to DSE after assuming the office of the chief of SEC.

During the meeting with the SEC chief, DSE officials would highlight the issue of floating quality shares by public limited companies (PLCs) as the market is being affected due to absence of quality shares of PLCs.

Mandatory credit rating for companies entering capital market, speedy punishment for errant companies and enlisting and delisting of regulations will also come up for discussion with the SEC chairman, the source said.

Since inception of SEC in 1993, share prices of 56 per cent PLCs went under face value levels, said a study of the DSE in August this year.

Besides, the existing weighted average share price index issue will also be raised. Both DSE and CSE have been repeatedly demanding withdrawal of the index which they think does not reflect the real price movement.

The SEC introduced the new index replacing the age-old 'all share price index' in both the bourses in late November of 2001.