Tk 37.6cr compensation from Sept 28
The Dhaka Stock Exchange (DSE) is offering a 50 percent waiver on listing fees to attract foreign and local companies, including established brands and banks, to the country's capital market.
The initiative is aimed at increasing the number of listed companies and maintaining a better balance between the country's economy and capital market, DSE Chairman Mominul Islam said at a press conference at the DSE Tower in Dhaka's Nikunja on Tuesday.
The DSE plans to bring at least 10 foreign and local companies to the capital market by March next year, he said.
Mominul said the bourse is working to strengthen investor protection by reducing risks and improving monitoring of listed companies.
"The DSE will closely monitor the activities of all listed companies to protect investors' capital," he said.
He also said the stock exchange is strengthening its regulatory supervision and monitoring mechanisms to prevent brokerage firms from defaulting and misappropriating investors' funds.
Meanwhile, the DSE will begin distributing Tk 37.60 crore from its Investor Protection Fund among 17,332 investors affected by the defaults of five brokerage firms.
The compensation distribution will start on September 28, the DSE chairman said.
The affected investors are clients of Mashiur Securities, Tamha Securities, Crest Securities, Shah Mohammad Sagir & Co Ltd and Banco Securities.
According to DSE data, the total amount of funds misappropriated by the five brokerage firms exceeds Tk 250 crore.
Mominul said each affected investor would receive a maximum of Tk 5 lakh against their verified claim.
"It will take slightly over two months to complete the entire fund distribution process," he said.
The DSE chairman said regulatory oversight and monitoring systems had been strengthened to prevent similar incidents in the future.
He added that four cases involving the misappropriation of investors' funds by the brokerage firms are currently under investigation by the Anti-Corruption Commission (ACC), while another case is pending before a court.
