Bangladesh Institute of Capital Market- BICM

Bangladesh Institute of Capital Market

 

            Bangladesh Institute of Capital Markets (BICM) is the institution for spreading education and imparting training on the capital market. It was established, on 24 July 2008. The Institute is fully funded by the Government of the People’s Republic of Bangladesh. The Government approved the organogram of the Institute in 2010 and the compensation structure for the Institute in 2013. The policy direction of the Institute is given by a Board of Directors chaired by the Chairman, of the Bangladesh Securities and Exchange Commission (BSEC) and members with a wide range of expertise representing a cross-section of stakeholders, Government, Commission, Academia, Exchanges, key market intermediaries and different professional bodies.

 

Academic Activities

Postgraduate Diploma in Capital Market Program (PGDCM)

BICM offers Postgraduate Diploma in Capital Market (PGDCM) for the market intermediaries, the full spectrum of market professionals in the capital market, and graduates who aspire to pursue careers in this field. The Diploma provides a blend of theoretical and practical knowledge on market mechanisms, new instruments, techniques, and legal frameworks. The year-long PGDCM Program consists of 13 courses of 36 credit hours including an internship. The Program is divided into three trimesters. Till July 2018, 10 batches of this flagship Program have been enrolled.

Certificate Courses for Professionals

The Institute has been regularly conducting two-week to six-week long certificate programs for professionals, regulators, market intermediaries, and sector stakeholders on different subjects on capital markets. These courses cater to the need of an individual that ranges from introductory to intermediate to advanced level. These certificate courses include Securities Laws of Bangladesh; Capital Raising and Investment in Primary Market; Fixed Income Securities; Operations of Mutual Fund; Financial Statements Analysis; Understanding IAS and IFRS; Understanding Revaluation of Assets; Corporate Governance; Insider Trading, Fraud, and Market Manipulation; Examination of Prospectus; Legislative Drafting; Research Methodology; Financial Econometrics; Technical Analysis; Investment Analysis and Securities Valuation.

The Institute also started to offer certificate courses at the regional level in 2018. The Institute is continuously updating and designing new programs based on the recent developments of the body of knowledge. Some of the areas are Mergers and Acquisitions, Data Science for Finance, Financial Analytics, Advanced Risk and Portfolio Management, Financial Modeling, Islamic Finance, Blockchain, Cryptocurrency, and New Financial Instruments.

Investor Education Program

To fulfill the commitment of the government of increasing awareness of general investors, BICM has been conducting an ‘Investor Education Program’ at free of cost for existing retail and potential investors on the basics of the capital market investment. General investors are encouraged to know the fundamentals of capital market investors to make informed investment decisions. The Institute is conducting this Program on weekly basis in Dhaka and in regional cities on a certain intervals.

Very recently, the Institute has started to run “e-Virtual Investor Education Program” where the learners and trainers can communicate on a real-time and interactive fashion from dispersed geographical locations.

Customized Programs

BICM also arranges a range of customized certificate programs tailored to the needs of the participants and Institutions. BICM has arranged ‘Foundation Training’ course for the officials of Bangladesh Securities and Exchange Commission; ‘Market Operations’ courses for Stock Exchange members; and ‘Capital Market Basics’ for officials of Bank and Financial Institutions Division, Ministry of Finance; ‘ToT on Corporate Governance’ with IFC and Global Corporate Governance Forum, course on ‘Municipal Bonds’ for Bangladesh Municipal Development Fund (BMDF) etc. The Institute has also arranged programs for different stakeholders, e.g., journalists, women entrepreneurs and university students.  

Workshops and Seminars

As part of Continuous Professional Development Program (CPD), the Institute also arranges workshops for its postgraduate diploma students. It ranges from contemporary developments in capital market on regulatory issues, product structures and their operational mechanism.  The Institute has also arranged seminars on investor protection, good governance and sustainable economic and capital market development issues.

 

Exposure Visits

With a view to enhancing practical skills, knowledge and exposures of postgraduate diploma students, the Institute arranges exposure visit program at international stock exchanges. It provides the students opportunity to exchange knowledge, learn about advanced products and observe operational mechanisms. The students of the Institute had visited National Institute of Securities Market (NISM) and Bombay Stock Exchange (BSE), India in recent years.

 

Infrastructural Facilities

BICM is housed at 34 Topkhana road (with 29,827.22 sqft. area) in the commercial hub of the city. The institute is equipped with state of the art education and professional training facilities as well as advanced learning amenities for imparting national and international training programs, workshops, seminars and conferences with accommodation capacity for 350 participants at one go.

 

The multipurpose conference rooms, class rooms, computer lab, digital library and archives of the Institute are equipped with technologically-advanced audio visual equipments and modern gadgets. It has break-away-session rooms and lobby for participants interface, interaction and brainstorming. The audio-visual and video conferencing facilities with dedicated 60 mbps fiber optics internet connection enables the Institute to establish its linkage with institutions from home and abroad in disseminating knowledge. It also facilitates students and faculty to serf, browse and harness the facilities that internet offers. The Institute has facilities of prayer hall. It also has full-time doctor and female nurse to address emergency medical needs of the employees and students.

 

BICM has the unique and enriched library of the country that is the repository of the books on business, finance, trade, banking, insurance, ICT, law and wide array of financial topics. To date, BICM has stocked over 11,000 physical books, about 16 international and national magazines such as Harvard business review, The Assets, Time, The Economist etc. BICM is also in process of procuring e- books, renowned journals, documentaries and other learning and reference materials. BICM is also enriched by a good repository of research data and also in process to procure Bloomberg terminal, Thomson Reuters DataStream and Eikon to facilitate researches. The Institute is also contemplating to hook up its server with the e- library of University Grant Commission, Bangladesh if allowed.

 

Future Activities of BICM

 

     Training on New Products of Capital Market

To implement the recent reforms taken by the Government as to allowing trading of Derivatives, Commodities, Exchange Traded Fund and Alternative Investments etc., BICM is designing curricula and training programs on the same.

           

     Masters in Capital Market

The Institute also expects to start “Master’s Program on Capital Market” obtaining affiliation of the University of Dhaka.Mandatory Licensing Examination

In association with BICM, the expatriate consultant engaged under ADB- TA project designed course materials for “Mandatory Licensing Examination for Securities Market Intermediaries”. If authorized by BSEC, the Institute will impart training and conduct examination on the same.

     Distance Learning Programs

BICM is also preparing and equipping itself to start “Distance Learning Programs” at school and college level for wide dissemination of capital market knowledge at national sphere.

     Regional Center

The Institute has taken initiatives to extend its activities in divisional cities by having regional center. Establishment of these centers will enable the investors across the country to know investment basics and help taking informed investment decisions.

         

     Research and Knowledge Management Activities

There is paucity of research, case study and documentation on financial market in general and capital market in particular in Bangladesh. BICM will put maximum emphasis and invest time, energy and efforts in research and knowledge management activities to bridge the gap. These activities of BICM will be aiming at setting standards, preparing best-practice examples, assisting policy formulation and preparing guidelines to help the stakeholders. The research outcomes, policy papers and recommendations will facilitate the government, regulators and practitioners in devising policy, formulating rules and implementing best practices.

 

To augment the ‘Vision 2021’, attainment of ‘Sustainable Development Goal- 2030’, and to be in the group of Developed Nation by 2040, the Institute has been persistently working to build capacity of the capital market stakeholders to have a fair, transparent and vibrant capital market of the country.

 

Academic Activities of BICM

Investors Education Program

To fulfill government’s commitment of increasing awareness of general investors, BICM has been conducting day-long free “Investors Education Program” to disseminate the basic knowledge of capital market investment. General investors have been encouraged to assess the financial health of the listed companies prior to making investment decisions. Till February 2019, 265 such Programs were held and 8475 general investors have been  trained from the establishment of the Institute.

Certificate Courses on Capital Market for Professionals

The Institute has been regularly conducting certificate programs for professionals, market intermediaries and sector stakeholders on different subjects on capital markets. These certificate courses include: Securities Laws of Bangladesh, Financial Statements Analysis, Technical Analysis, Investment Analysis and Securities Valuation, Capital Raising and Investment in Primary Market; Fixed Income Securities, Operations of Mutual Fund, Understanding IAS and IFRS, Understanding Revaluation of Assets, Corporate Governance, Insider Trading, Fraud and Market Manipulation, Examination of Prospectus, Legislative Drafting, Research Methodology, Financial Econometrics. . Till February 2019, 92 certificate programs have been arranged with participation of 1991 market professionals and intermediaries.

 The Institute has also started to offer certificate courses at regional level in 2018.

Postgraduate Diploma in Capital Market (PGDCM)

BICM is offering PGDCM for the market intermediaries, full spectrum of market professionals and graduates who aspire to pursue career in the capital market. The Diploma provides a blend of theoretical and practical knowledge on market mechanism, legal framework, new instruments and techniques. The yearlong PGDCM program consists of 13 courses of 36 credit hours including internship. The program is divided into three trimesters. BICM has also started day-PGDCM program. Till February 2019, 13 batches of PGDCM  have been enrolled.

 

 

 Customized Programs

BICM also arranges a range of customized certificate programs tailored to the needs of the participants and Institutions. BICM has arranged ‘Foundation Training’ course for the officials of Bangladesh Securities and Exchange Commission; ‘Market Operations’ courses for Stock Exchange members; and ‘Capital Market Basics’ for officials of Bank and Financial Institutions Division, Ministry of Finance; ‘ToT on Corporate Governance’ with IFC and Global Corporate Governance Forum, course on ‘Municipal Bonds’ for Bangladesh Municipal Development Fund (BMDF).The Institute has also arranged programs for different stakeholders, e.g., journalists, women entrepreneurs and university students. 

 

Workshops and Seminars

As part of Continuous Professional Development Program , the Institute also arranges workshops for its postgraduate diploma students. It ranges from contemporary developments in capital market on regulatory issues, product structures and their operational mechanism.  The Institute has also arranged seminars on investor protection, good governance and sustainable economic development and capital market development issues. Institute has organized 17 workshops and seminars on capital market till February 2019.

 

Inter-University Capital Market Case Competition

For the first time, BICM has arranged `Inter-University Capital Market Case Competition: Invest Maestros, Season-01'. More than 200 teams of different public and private Universities participated in this competition. The main objective of the competition is to disseminate capital market knowledge among University' students.

 

E-virtual Class

The Institute successfully inaugurated its e-virtual class room system, where participants from different geographical location can participate actively. This live program helps the participants by reducing their time, cost and visit simultaneously. Through this class BICM can disseminate capital market related basic knowledge among different participants of different locations of Bangladesh in a convenient way.