Dhaka: A meeting was held between the Bangladesh Securities and Exchange Commission (BSEC) and representatives of the World Bank Group to discuss the feasibility of establishing a Mortgage Refinance Company (MRC) in Bangladesh. The meeting took place at the BSEC headquarters on August 19, as mentioned in a press release issued by the commission on Thursday.

According to United News of Bangladesh, the meeting focused on the proposed framework and role of a Mortgage Refinance Company in Bangladesh’s housing finance sector. The establishment of such an institution could help expand the primary mortgage market by providing long-term refinancing to financial institutions and mobilizing funds from the capital market for housing finance.

The initiative has been undertaken by the World Bank Group following a formal request from the Financial Institutions Division (FID) of the Ministry of Finance to assess the feasibility of establishing a Mortgage Refinance Company in Bangladesh. This proposed initiative is anticipated to contribute significantly to the development and expansion of long-term housing finance in the country.

BSEC Chairman Masud Khan presided over the meeting, which was attended by BSEC Commissioner Tanjir Habib Rahman, Nahid Mahfuz, Md Nazif Al Tariq, Hossain Sadat, and other senior officials. Executive Director and Spokesperson Abdul Kalam and Executive Director Mohammad Jahangir Alam were also in attendance, along with representatives from the World Bank Group.