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BSEC Freezes All Stock Accounts of Former IGP Benazir Ahmed & Family

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The Bangladesh Securities and Exchange Commission (BSEC) has directed the freezing of all stock market accounts belonging to former Inspector General of Police (IGP) Benazir Ahmed, his wife Jishan Mirza, and their younger daughter Tahsin Raisha Binte Benazir.

On Monday, May 27, BSEC instructed the Central Depository Bangladesh Limited (CDBL) to freeze all beneficiary owner (BO) accounts held by them. This order prohibits any deposits or withdrawals from these accounts while the freeze is in effect.

Additionally, BSEC sent related directives to CDBL and the Anti-Corruption Commission (ACC) on the same day. The family collectively holds six BO accounts in the stock market.

Benazir Ahmed’s accounts are with IFIC Securities Limited and Dragon Securities Limited. His wife, Jishan Mirza, has accounts with Southeast Bank Capital Services Limited and EBL Securities Limited. Their elder daughter, Farhin Rishta Binte Benazir, holds an account with EBL Securities Limited, while their younger daughter, Tahsin Raisha Binte Benazir, has an account with Dynasty Securities Limited.

The BSEC’s directive stated that in accordance with an order from the Senior Special Judge’s Court, six BO accounts across five brokerage houses are to be frozen until further notice. As per the court’s order, no funds can be withdrawn from these accounts while the freeze is in place.

Previously, on May 23, the court ordered the confiscation of assets belonging to the former police officer. This order was issued by Dhaka Metropolitan Sessions Judge Mohammad As-Sams Jaglul Hossain following the submission of 83 documents by the ACC.

On the following day, the court ordered the seizure of 119 movable and immovable assets, including four apartments in Gulshan, owned by Benazir Ahmed and his family.

Meanwhile, the ACC continues to investigate Benazir Ahmed’s assets. The ACC lawyer stated that more properties might be seized as further evidence is uncovered.

ACC lawyer Khurshid Alam mentioned that if additional assets are found, the ACC will seek court approval for their confiscation. So far, 35 bank accounts linked to the former police chief have been frozen.

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Weekly U.S. Stock Market Reports Diverse Performance

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Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent hike of 555 points, reaching a closing value of 17,688 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, gaining 85 point to settle at 5,431 points. Meanwhile, DJIA Index experienced a notable drop, losing 209 points during the week and concluding at 38,589 points after a week of gaining.

In contrast, Russell 3000 Index saw a gain in week performance, with a slight hike of 40 points to reach 3,077 points by the end of the week.

Moving to Russell 2000 Index, demonstrated a notable drop of 20 point, ending the week at 2,006 points.

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Weekly European Stocks Shows Negative Result

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In the Outgoing week, the European stock market displayed a massive losing performance.

Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a drop of 12.5 points to close at 511.05.

The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 99 points or finishing the session at 8,146.

In Germany, the DAX 30 index, lost by 555 points to reach 18,002, while France’s CAC 498 decreased by 9 points to stop at 7,503 at the end of the trading day.

Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, decreased by 1,995 points to 32,665. However, Spain’s IBEX 35, added by 412 points, to close at 10,992.

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South Asian Stocks Reports Gaining Performance in Recent Week

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A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has added 299 points during the week. At the end of the week, the index stood at 76,992 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange gained by 175 points last week. At the end of the week, the index stood at 23,465 points.

Pakistan Stock Exchange Index ‘KSE 100’, shed 2,926 points last week. After a week of losing, the index settled at 76,742 points.

On the other hand, The Sri Lankan stock market index adds, and the Colombo Stock Exchange index ‘ASPI’ increased by 208 points in a week. After a week the index settled at 12,314 points.

Bhutan’s stock market index ‘BSI’ added 68 points hence the index stood at 1,515 points throughout the whole week. Nepal’s ‘NEPSE’ gain 35 points, therefore the index stands at 2,112 points.

Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ dropped by 119.51 points or 2.28 percent, in the outgoing week. At the end of the week, the index stands at 5,117 points.

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