Cash transaction limit to double at brokerage houses: BSEC chairman

The daily limit on amount of cash transaction by investors at brokerage houses will be increased from 5 lakh taka to 10 lakh taka soon.

This was stated by Bangladesh Securities and Commission (BSEC) Chairman Prof Shibli Rubaiyat-ul Islam at a courtesy meeting with members of DSE Brokers Association of Bangladesh (DBA) on Monday (August 31).

It was the first meeting between BSEC and DSE TREC holders with Prof Shibli Rubaiyat-ul Islam as the chief guest.

Besides, BSEC Commissioner Khandaker Kamaluzzaman, Dr Sheikh Samsuddin Ahmed, Dr Md Mizanur Rahman and Md Abdul Halim attended the meeting as special guests.

The meeting was chaired by DBA President Sharif Anwar Hossain and was attended by representatives of about 180 brokerage houses.

The DBA president said BSEC chairman at the meeting sought everyone's cooperation to maintain discipline in the stock market.

Quoting BSEC chairman, he said, “The chairman will work to solve the minor problems of the brokers.”

“The amount of cash transactions of investors will be increased to Tk 10 lakh very soon,” he added.

A letter signed by DBA President Sharif Anwar Hossain on August 19 requested the BSEC to increase the amount of cash transactions of investors to Tk 10 lakh.

sr/zn