The article addresses the instrumental role of broker-dealers in Guyana’s capital market amid an economic boom from the oil industry. It emphasizes the necessity of democratizing access to wealth creation for all citizens, as advocated by Angus Young, CEO of NCB Capital Markets. The Guyana Securities Council is also working to enhance the regulatory framework to support this initiative, crucial for fostering economic inclusivity and participation.
Broker-dealers play a pivotal role in capital markets by facilitating the buying and selling of securities for investors. As Guyana experiences a surge in economic vitality driven by its burgeoning oil industry, there is an increasing demand for a conducive environment for broker-dealer firms. This economic transformation is empowering more citizens to seek wealth-building opportunities, thereby highlighting the significance of broker-dealers in fostering an inclusive capital market framework. Angus Young, the Chief Executive Officer of NCB Capital Markets, emphasized the necessity of broker-dealers in democratizing access to wealth creation for all Guyanese. While addressing attendees at the Jamaica Stocks Exchange’s 2nd Regional Investments and Capital Markets Conference held in Guyana, Mr. Young stated, “It is also the role of the broker-dealer to democratise access to wealth creation opportunities to every citizen of Guyana.” He further asserted that by attracting fresh capital into the country, broker-dealers can facilitate participation in what is recognized as one of the fastest-growing economies globally. Mr. Young articulated concerns regarding the exclusivity often associated with capital markets, where wealth generation opportunities predominantly favor the affluent. He remarked, “An economy that grows without the full participation of all, a wide base of its citizenry, is also one where inequalities will thrive.” He posited that for genuine wealth democratization, it is imperative to construct an inclusive capital market ecosystem where every citizen can engage and reap financial benefits. Moreover, he indicated that accessible capital markets could empower regular citizens to invest in businesses, acquire shares, and actively contribute to the economic advancement of their nation. He suggested that broker-dealers must tailor investment products to cater to a diverse range of investors, accommodating various risk tolerances and capital availability. The prevalent scarcity of capital has been identified as a barrier to the growth of the private sector, and broker-dealers are positioned to manage higher risk levels. In alignment with these goals, the Guyana Securities Council (GSC) is working to enhance its regulatory framework to promote the expansion of the broker-dealer industry within the country. Ultimately, the evolution of broker-dealers in Guyana signifies a critical step towards creating a capital market that is accessible to all citizens, enabling them to participate in and benefit from the nation’s economic prosperity.
The article discusses the crucial role of broker-dealers in Guyana’s evolving capital market, particularly in the context of the country’s burgeoning economy driven by oil production. It highlights the need for greater financial inclusivity and the active participation of all citizens in wealth creation opportunities. The involvement of broker-dealers is positioned as integral to democratizing access to financial resources and addressing wealth inequalities that typically arise in burgeoning economies. The comments made by industry leaders at a regional investment conference further reinforce the argument for a robust and inclusive financial ecosystem.
In summary, broker-dealers are essential for promoting an inclusive capital market in Guyana, enabling broader participation from citizens in opportunities for wealth generation. The insights shared by industry leaders underscore the necessity of creating accessible and tailored financial products. The ongoing efforts by the Guyana Securities Council to enhance the regulatory framework aim to foster a vibrant broker-dealer environment, ultimately contributing to the equitable economic growth of the nation.
Original Source: radiojamaicanewsonline.com
