Not just Crest, but the integrated customer accounts of 10 brokerage houses on the Dhaka Stock Exchange have found evidence of a deficit. The main bourse authorities of the country got this information by inspecting 16 houses.
But clients claims that not only 10 at least 40 houses have been found to be short of money deposited by customers. Although in most houses it is less than crores of rupees. The stock exchange and regulator BSEC has directed everyone to fill the gap within the current month.
The DSE has issued show cause notices to these organizations as well as summoned the concerned, sources said. However, due to the strict measures taken in this regard, many houses have started to cover the deficit by borrowing or returning the withdrawn money to the account.
Many houses have run out of money due to the withdrawal of money from customers’ accounts to pay salaries and allowances to officials and employees during the Corona holiday, the sources said.
In such a situation, it has been decided to inspect the brokerage house without notice to stop the transfer of money from the customer’s account. Shanaul Haque, Managing Director, DSE, said they have a plan to launch an integrated software with brokerage houses, central depository system (CDBL), bank accounts and BSEC to automatically verify customers’ money and shares in real time.
Besides, after analyzing the information submitted by the houses, the officials came to know that there is a deficit in more than two dozen houses. They fear that the number could increase if the bank accounts of the houses are examined and verified on the spot.
Meanwhile, the DSE has taken many immediate steps, but the other stock market, the Chittagong Stock Exchange (CSE), has not yet taken any additional steps beyond taking regular information, CSE sources said.
According to stock exchange sources, the highest deficit of more than Tk 21 crore has been found in the brokerage house called Apex Securities. Apart from this, Sinha Securities has a deposit short of Tk 8 crore in customers but only Tk 2 lakh in its bank account. The deficit in Unicap Securities was Tk 6 crore.
Dilip Kazuri, CEO of Apex Securities, said the company had no income during the holidays in Corona. The customer’s money is taken as another bank to pay the salaries and allowances of the employees. It is not embezzlement. He claimed that the money has already been returned to the customers.
Wali-ul Islam, CEO of Unicap, made a similar demand. He said the customers had a deficit of Rs 6 crore out of Rs 150 crore. Most have already been adjusted. The rest will be adjusted soon.