Affected investors of four brokerage houses in the country's capital market will receive a maximum compensation of Tk 5 lakh each. The Bangladesh Securities and Exchange Commission (BSEC), the capital market regulator, has directed the refund of this money from the 'Investors' Protection Fund'.
This decision was made on Monday during an emergency meeting of the BSEC, presided over by Commission Chairman Masud Khan. Later, the BSEC disclosed the matter through an official press release.
The four brokerage houses whose affected investors will receive the refunds are Banco Securities Limited, Tamha Securities Limited, Crest Securities Limited, and Shah Mohammad Sagir & Company Limited. According to the notification, the funds will be disbursed against the verified and pending claims of the affected investors of these institutions, and the commission has issued necessary directives to the concerned parties.
Earlier, on September 29, the Dhaka Stock Exchange (DSE), the country's premier bourse, initiated the process of refunding investors who had fallen victim to embezzlement and fraud in the share market. In the first phase, compensation cheques were distributed among the investors of Mashiur Securities.
The DSE is set to clear dues amounting to Tk 72 crore for 17,332 affected investors across five defaulting brokerage firms embroiled in market embezzlement and fraud.
Meanwhile, six brokerage houses have received approval to trade in the country's maiden commodity exchange, which is set to launch soon. The approval was granted during the BSEC meeting. The newly approved institutions are Sohel Securities Limited, Island Securities Limited, and NLI Securities (note: text truncated in source).
