DSE suspends Reliance Brokerage’s operations

The Dhaka Stock Exchange (DSE) has suspended the share transaction operations of Reliance Brokerage Service Limited, a stockbroker, due to its failure to renew the brokerage license.

The operations of the stockbroker have been halted since Monday and will remain the same until it renews its license, according to DSE sources.

DSE officials having knowledge with the matter said, the validity of the license of Reliance Brokerage expired on September 15 last year. But, it did not renew it even after five months of the validity expiry.

Following the DSE move, investors could not make any share transactions through this brokerage firm in the two last days.

It was previously learnt that Reliance Brokerage wanted to rename Aviva Equity Management.

But, the license could not be renewed because of the absence of the CIB report of one of its directors.