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Staff Correspondent
29 Jun 2020 20:05:53

Capital market investors demand increase in paid-up capital

Capital market investors demand increase in paid-up capital

Bangladesh Capital Market Investors' Unity Council has demanded the increase of paid-up capital of each brokerage house to least Tk 100 crore for the security of investors in the capital market.

The representatives of the council made the demands in writing to Bangladesh Securities and Exchange Commission (BSEC) and Dhaka Stock Exchange (DSE).

The investors' organization also demanded the suspension of brokerage houses that have failed to raise paid-up capital.

The council also demanded the formation of an impartial inquiry committee within 72 hours into the recent corruption and fraud at Crest Securities, severe punishment of the owners and others involved and the return of money and shares to customers.

At the same time, they demanded that necessary steps be taken to overcome the existing liquidity crisis to restore momentum in the capital market and not to approve or recommend the issuance of any IPO, Right shares, Preference shares in the next one year.