Around two lakh BO account cancelled

Date:

Post View:

Around two lakh BO account cancelled

One lakh 11 thousand more BO accounts have been added to the cancellation register in the outgoing week. Earlier, 74,000 BOs were canceled. In other words, the total number of canceled or closed BO accounts this year stood at one lakh 95 thousand, which is two thousand more than the previous year. One lakh 93 thousand BO accounts were canceled at this time last year.

There is usually an opportunity to renew the BO account till June 30. But most brokerage houses keep this opportunity until mid-July, out of concern for BO account holders. After that CDBL has to give the account of the canceled BO. Most houses have been waiting for investors this year because of the coronavirus. But there was no response, which is why many House authorities have given a closed BO account at the last minute. As a result, the number of canceled BOs has more than doubled in a week.

It is learned that due to the Corona situation, the presence of investors in the House is less this year. Therefore, they did not think of renewing the accounts of BOs which do not have shares or cash, which is why many BOs have been canceled. Brokerage House authorities said the number of canceled BOs could have increased further this year. In addition to the possibility of Robi’s IPO approval ahead, there is also Walton’s IPO, which is why many have renewed their BOs despite their reluctance.

The capital market could not return to normal after the catastrophic collapse of Smaranakal (2010). Attempts have been made to turn around from time to time, but the market has fallen again. As a result, ordinary investors have turned away from the market, which has been hit hard by the BO account.

In the last six years, more than eight lakh BO accounts have been closed due to non-renewal. According to Central Depository Bangladesh Limited (CDBL), a company that stores shares electronically.

According to the information received, at the end of the financial year 2014-15, the total number of BOs was 32 lakh four thousand 602. In the 2019-20 financial year, it has come down to 23 lakh 95 thousand 84.

It is learned that, like other years, a significant number of the accounts that have been closed this time are BOs applying in the primary market or IPO. Besides, some investors have left the capital market as they could not take advantage of the secondary market. Again, a small number of shareholders have closed their accounts.

In the last six years, more than eight lakh BO accounts have been closed due to non-renewal. According to Central Depository Bangladesh Limited (CDBL), a company that stores shares electronically.

According to the information received, at the end of the financial year 2014-15, the total number of BOs was 32 lakh four thousand 602. In the 2019-20 financial year, it has come down to 23 lakh 95 thousand 84.

Bmirrorhttps://bmirror.net/
businessmirror20@gmail.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_img

Popular

More like this
Related

IFIC Bank inaugrates ‘Smart Booth’

B Mirror Desk: IFIC Bank Plc has opened smart booth...

The share market is one of the weakest ‘pillars’ of the country: Dr. Salehuddin Ahmed

The former governor of Bangladesh Bank. Salehuddin Ahmed said,...

Big deal of six companies on the block

On Thursday (June 13), the last working day of...

Shahjalal Islami Bank holds 876th executive committee meeting

B Mirror Desk: The 876th meeting of the Executive Committee...