In order to increase its business, the Dhaka Stock Exchange (DSE) will issue stock brokerage licences to new companies, allowing them to buy and sell shares on the capital market.
However, new brokerage houses will not get any share of the country's premier bourse.
Currently, there are 250 brokerage firms which are the primary shareholders of the DSE.
In a meeting on Tuesday, the DSE's Board of Directors decided to issue the brokerage licences, read a press release.
Trading Rights Entitlement Certificates (Trec), or brokerage licences, will be issued as per the rules of the Exchanges Demutualization Act, 2013.
In November last year, the stock market regulator issued a rule titled Bangladesh Securities and Exchange Commission (Trading Right Entitlement Certificate) Rules 2020.
To avail a Trec licence, a local firm must invest at least Tk9 crore in total in the form of paid-up capital, security deposit and registration fee.
The amount is as high as Tk16 crore for foreign applicants, while local-foreign joint ventures will require at least Tk13 crore to avail a brokerage licence from the local bourse, according to the Bangladesh Securities and Exchange Commission's (BSEC) rules.
A local firm must have Tk5 crore paid-up capital, Tk3 crore for a security deposit and Tk1 crore for the registration fee.
Foreign applicants need Tk10 crore paid-up capital and Tk5 crore for a security deposit; while joint venture applicants need Tk8 crore for paid-up capital and Tk4 crore for a security deposit.
The registration fee is Tk1 crore for both foreign and joint venture applicants.