Reduced maintenance fees for capital market investors’ beneficial owners accounts (BO accounts) have finally been approved by the Bangladesh Securities and Exchange Commission (BSEC), the regulating body.

At the commission’s 971st meeting, which took place on Tuesday (September 2), this plan was accepted in light of stakeholder thoughts and ideas as well as public opinion. The organization’s chairman, Khandaker Rashed Maksud, chaired the meeting.

This information was given in a press release signed by BSEC Director and Spokesperson Md. Abul Kalam.

According to the information, the maintenance fee of the beneficial owners account (BO account) of the investors will be 150 taka. This will be divided equally in 3 ways, which will be distributed at the rate of 50 taka between the depository, depository participants (DPs) and BSEC.

This proposal will be published in the form of an official gazette soon. After the gazette is published, it will be effective for the fiscal year 2025-26.

However, for previous years, the BO maintenance fee will have to be paid at the rate of Tk 450 as per the previous provision.

Meanwhile, the deadline for calculating the BO account maintenance fee has been extended once again to October 15. Earlier, BSEC had extended this period to August 31 following the application of Central Depository Bangladesh Limited (CDBL).