Broker-dealers are vital to Guyana’s capital markets, enabling wealth creation opportunities for all citizens, particularly in light of the country’s economic growth driven by oil. Angus Young, CEO of NCB Capital Markets, emphasized their role in democratizing access to investments, promoting inclusivity, and enhancing the overall economy. The Guyana Securities Council is working to improve the framework for these firms, which can fundamentally transform capital market participation.
Broker-dealers play an essential role in the capital markets, facilitating the buying and selling of securities for investors with ease. With the influx of capital into the Guyanese economy, particularly due to the emerging oil industry, there is a growing impetus to foster a supportive environment for broker-dealer operations in the region. This economic growth is transitioning into increased wealth among the citizens, prompting a significant interest in wealth-building opportunities. Broker-dealers are seen as a pivotal component in Guyana’s efforts to develop its capital market, ensuring that wealth creation opportunities are accessible to all citizens. Angus Young, the CEO of NCB Capital Markets, articulated this perspective at the Jamaica Stock Exchange’s 2nd Regional Investments and Capital Markets Conference held in Guyana, stating, “It is also the role of the broker-dealer to democratise access to wealth creation opportunities to every citizen of Guyana. The broker-dealer will also bring fresh capital from the region into Guyana as investors seek to participate in the fastest growing economy in the world.” He further noted the concern that, in many nations, capital markets often cater exclusively to a wealthy elite, isolating the broader population from the benefits of economic growth. The CEO emphasized that inclusive participation in capital markets is critical to alleviating socioeconomic disparities, asserting that, “An economy that grows without the full participation of all, a wide base of its citizenry, is also one where inequalities will thrive. To truly democratise wealth, we need an inclusive capital market ecosystem where every citizen can participate and benefit.” Mr. Young suggested that when capital markets are readily accessible to local enterprises and individuals, the overall economy experiences substantial benefits. He stated, “Ordinary citizens can invest in businesses, own shares and actively participate in the nation’s economic growth. Broker-dealers therefore have a responsibility to create investment products tailored for the range of investors, small to large scale, who have various risk appetites and degrees of capital to participate.” He emphasized that limited access to capital is often cited as a significant barrier to growth in the private sector, where broker-dealers are adept at managing higher risks associated with capital allocation. In light of these developments, the Guyana Securities Council (GSC) is actively enhancing its regulatory framework to facilitate the expansion of the broker-dealer market within the country, thus paving the way for more individuals to engage in economic opportunities and contribute to the continuum of wealth creation.
The discussion surrounding broker-dealers in Guyana is set against the backdrop of a rapidly growing economy, largely fueled by the discovery and exploitation of oil reserves. This economic surge presents a unique opportunity for Guyana to enhance its capital markets and broaden wealth distribution among its citizens. Broker-dealers, as intermediaries in the financial market, serve not only to facilitate trading but also to democratize access to investment opportunities, allowing individuals from various socioeconomic backgrounds to participate in wealth generation. As the regulatory landscape evolves, particularly with initiatives from institutions such as the Guyana Securities Council, the potential for an inclusive and robust capital market structure is increasingly recognized.
In conclusion, broker-dealers are integral to fostering an inclusive capital market ecosystem in Guyana that supports wealth democratization. As noted by industry leaders, their role extends beyond mere facilitation of transactions; they are essential in bridging the wealth gap by making investment opportunities accessible to all citizens. The commitment from both the private sector and regulatory bodies to enhance the broker-dealer market is poised to yield significant economic benefits, ultimately contributing to a more equitable society.
Original Source: radiojamaicanewsonline.com
