Uncategorized
BSEC Orders DSE Brokers to Repatriate Funds Invested Outside Core Business
The Bangladesh Securities and Exchange Commission (BSEC) has instructed 57 stockbroker and dealer firms of the Dhaka Stock Exchange (DSE) to repatriate nearly BDT 400 crore invested outside their core business operations.
In a recent order signed by BSEC Chairman Professor Shibli Rubayat-Ul-Islam, the DSE has been directed to ensure these funds are returned to their primary business activities by October. The order outlines that these firms had invested in various non-core areas such as deposits, land purchases, loans to related companies, unlisted company investments, and loans for directors’ vehicle purchases.
The BSEC directive follows a compliance report from the DSE and audited financial statements of the stockbroker and dealer firms, revealing that these entities were diverting funds away from their registered primary activities. To safeguard the capital market’s interests, the BSEC issued two specific instructions to the DSE: ensure the repatriation of funds by October 31 and monitor the reinvestment of these funds in core business operations. The DSE is required to submit a compliance report to the BSEC within seven working days of the fund repatriation.
According to BSEC data, the 57 stockbroker and dealer firms have invested a total of BDT 399.49 crore in non-core activities.
The BSEC order also stipulates that any investments in other areas must be returned and utilized within the firms’ primary business operations. The DSE has been tasked with overseeing this process and submitting a compliance report to the BSEC within seven working days after the funds have been repatriated.
The directive is effective immediately, emphasizing the urgency of the situation.
Stock brokers and dealers investing in sectors other than value trading include AB Ispahani Securities, ACE Capital Management Services, Rashid Investment Services, Daulatunnesa Equities, Rapid Securities, M-Securities, Ariz Securities, First Capital Securities, Multi Securities and Services, Royal Green Securities, Latif Securities, Uniroyal Securities, Md. Fakhrul Islam Securities, Salta Capital, Daytun Holdings, Island Securities, Etihad Securities, Surma Securities Holding Co., Noveli Securities, CMSL Securities, Nabiul Karim Securities, ANF Management Company, Dragon Securities, Shelltech Brokerage, Rose Securities, RNI Securities , Mashihur Securities , Qazi Equities, Alhaj Jahanara Securities, Midway Securities, KHB Securities, Cosmopolitan Equities, Fortune Securities (Pvt.), Shakeel Rizvi Stock, EMES Securities, Peace Securities, Trustee Securities, Mona Financial Consultancy & Securities, Subv Lee Securities, Doreen Capital Management, GMF Securities, Globe Securities, Anwar Khan Modern Securities, Stock & Bond, Total Communications, Prilink Securities, Asadhi Securities, AD Holdings & Securities, Mika Securities, Akiz Capital Management, Dhaka Securities, Prudential Capital, Bay Rich, Rahman Equity Management, Burma Securities , Inova Securities and Gibson Securities.
Weekly Dhaka Stock Exchange, DSE, Dhaka Bourse has seen a negative performance in Indices, Turnover & Market Capitalization throughout the whole week, This information was disclosed in the weekly market review from the DSE.
According to sources, (5 working days) the turnover of DSE lost by Tk 3 thousand 289 crore 7 lakh (August 18 – August 22). At the same time, the market capitalization has decreased by 16 thousand 132 crore 59 lakh taka.
The benchmark index ‘DSEX’ lost by 203.92 points or 3.45 percent, in the outgoing week. At the end of the week, the index stands at 5,699 points. The Shariah-based index ‘DSES’ dropped 45.64 points or 3.61 percent and therefore the index stands at 1,264 points. The blue-chip index ‘DS30’ decreased by 88.76 points or 4.07 percent, hence the index stands at 2,090 points.
Shares and units worth 3 thousand 122 crore 5 lakh taka were traded in Dhaka Stock Exchange. At the end of the week, the market capitalization stood at 6 lakh 92 thousand 831 crore 80 lakh taka.
Shares and units of 394 companies were traded on Bourse during the week. Of these, 5 shares were unchanged, 357 companies declined, and 32 companies advanced.
Grameenphone Limited has ranked at the top of weekly trading on DSE. The Company records an average turnover of 57 crore 69 lakh taka.
Midland Bank PLC ranked at the top of weekly gainers on DSE. The share has risen 12.09 percent to its highest price.
SEML FBLSL Growth Fund has ranked at the top of weekly losers on DSE. The unit has dropped 14.52 percent lowest in the last week.
Prime Minister Sheikh Hasina today offered solace to the families of those killed during the chaos instigated by BNP-Jamaat terrorists, who exploited the recent quota reform movement. The grieving families met her at her official residence, Ganabhaban.
Among the bereaved were the family members of Abu Sayeed, a student from the English Department at Begum Rokeya University, Rangpur (BRUR), along with 33 other families. Sheikh Hasina presented them with saving certificates and cash as a gesture of assistance.
The sight of the prime minister brought the grieving families to tears. As each family member approached Sheikh Hasina, their emotions overflowed, and they broke down crying.
The prime minister, visibly moved, also struggled to contain her emotions. Tears streamed down her face as she listened to their stories, and she appeared deeply distressed.
In her attempt to console the families, Sheikh Hasina shared her own pain, saying, “Look at me, I am living with so much pain.” She reassured them of her support, expressing that she, too, understands the agony of losing loved ones. “It’s my misery that I have to see your tears,” she continued.
The atmosphere at Ganabhaban was heart-wrenching, filled with grief and shared sorrow.
Present at the event were Speaker Shirin Sharmin Chaudhury and Home Minister Asaduzzaman Khan, with Prime Minister’s Office Secretary Mohammad Salahuddin moderating the proceedings.
Abu Sayeed’s father Makbul Hossain, mother Monwara Begum, and other relatives traveled from Rangpur to Dhaka and attended the gathering at Ganabhaban.
Abu Sayeed, a 12th batch student in the English Department at BRUR, died on July 16 during the quota reform movement in Rangpur. Earlier, on July 26, the BRUR administration provided financial support to Sayeed’s family, delivering a cheque of Taka 750,000 to his parents in Pirganj, Rangpur.
Dhaka Stock Market DSE, Bourse on the first working day of the week, 28th July, ended with a drop in Indices and Turnover from the previous working session. This information is known from DSE sources.
488 crore 38 lakh taka shares were traded on this day. 8 crore 96 lakh less tradings were done in DSE today compared to the previous workday, July 25th, Shares worth Tk 497 crores 34 lakh shares were traded last time, Thursday.
The benchmark DSEX decreased 29.92 points or 5,383 The Shariah-based index DSES lost 5.65 points or 1,177 and the blue-chip index DS30 dropped by 11.51 points or 1,951.
Of the issues traded, 88 advanced, 261 declined and 43 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 4.20 paisa or 9.93 percent. On this day, the share was last traded at Tk 46.50 paisa.
Shurwid Industries Limited ranked top loser on the DSE, the share price dropped by Tk 0.30 paisa or 3.00 percent. On this day, the share was last traded at Tk 9.70 paisa.
DSE topped on trade is Agni Systems Limited 28 crore 71 lakh takas of company shares have been traded.
A total of 33 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 31 lakh 74 thousand 737 shares of the companies were traded. The financial value of which is 30 crore 93 lakh taka
