Firms get 10 more days to apply for brokerage licence  
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Friday
August 12, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
FRIDAY, AUGUST 12, 2022
Firms get 10 more days to apply for brokerage licence  

Stocks

TBS Report
16 March, 2021, 10:15 pm
Last modified: 16 March, 2021, 10:24 pm

Related News

  • 5 firms asked to explain failure to file dividend compliance report
  • India mothballs plan to let local firms list overseas
  • 34 sick firms deprive shareholders of dividends
  • Influence of outsourcing human resource activities on organisational performance
  • Cricketer Shakib’s firm gets CSE brokerage licence

Firms get 10 more days to apply for brokerage licence  

As the initial deadline was scheduled to expire on 18 March, the DSE officials are “yet to know” the information on how many applications have already been submitted

TBS Report
16 March, 2021, 10:15 pm
Last modified: 16 March, 2021, 10:24 pm
Firms get 10 more days to apply for brokerage licence  

The deadline to apply for a new brokerage licence from the Dhaka Stock Exchange (DSE) has been extended by 10 days to 28 March.

In a statement on Tuesday, the country's premier bourse said its management decided to extend the deadline for application to avail a new brokerage licence technically called Trading Rights Entitlement Certificate (Trec).  

As the initial deadline was scheduled to expire on 18 March, the DSE officials are "yet to know" the information on how many applications have already been submitted.

One of the officials, however, told The Business Standard that a number of businessmen had long been interested in receiving a brokerage licence.

But the call for applications appears to have been a little premature as the interested ones barely got enough time to prepare themselves in line with regulations concerned, they added.

Following the final Trec rules, the DSE invited applications at the beginning of February and asked for Tk1 lakh in application fees from each of the interested companies.

According to the Trec rules, a company must have at least Tk5 crore in paid-up capital before it looks for a Trec. The mandatory capital is Tk8 crore if the firm is a joint venture between local and foreign owners, which is set at Tk10 crore for sole foreign ownership.

In no cases, net asset of the applicant firm can go below the level of 75% of its paid-up capital.

Also, a company will have to keep Tk3 crore with the DSE as the security deposit, which is Tk4 crore for joint ventures and Tk5 crore for foreign firms.

A local firm, if not disqualified on some common specific grounds, must invest at least Tk9 crore in total in the form of paid-up capital, security deposit and the registration fee to get a stock brokerage licence.

The amount goes as high as Tk16 crore if the applicant company is a foreign-owned one while local-foreign joint ventures are required to invest at least Tk13 crore for availing a brokerage licence, according to the Bangladesh Securities and Exchange Commission (Trading Right Entitlement Certificate) Rules 2020.

The applicant firms also must have required manpower with skills alongside fulfilling other criteria such as their ownership and board structure, transparent disclosures for an acquaintance, and tax and credit market compliances.

However, the new licence holders will only get a Trec or brokerage licence, not any share or membership of the bourse concerned, said the rules to outline the way for awarding new stock brokerage licences to non-members of the bourses.

 

Economy / Top News

firms / Application deadline / Brokerage licence

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Default loans jump Tk22,000cr in six months
    Default loans jump Tk22,000cr in six months
  • File Photo: Mohammad Minhaj Uddin/TBS
    ICDs hike imports handling charge by 35%
  • A shopping cart is seen in a supermarket as inflation affected consumer prices in Manhattan, New York City, US on 10 June 2022. REUTERS/Andrew Kelly
    Is global inflation nearing a peak?

MOST VIEWED

  • Photo: Collected
    Savar Refractories seeks to delist, directors to buy each share at Tk84
  • Sunlife Insurance declares no dividend despite soaring share prices
    Sunlife Insurance declares no dividend despite soaring share prices
  • Infographic: TBS
    Fareast Islami Life to sell assets to pay insurance claims
  • Representational Image
    Inflation worries drag down stocks again
  • 5 firms asked to explain failure to file dividend compliance report
    5 firms asked to explain failure to file dividend compliance report
  • GSP Finance declares 10% dividends
    GSP Finance declares 10% dividends

Related News

  • 5 firms asked to explain failure to file dividend compliance report
  • India mothballs plan to let local firms list overseas
  • 34 sick firms deprive shareholders of dividends
  • Influence of outsourcing human resource activities on organisational performance
  • Cricketer Shakib’s firm gets CSE brokerage licence

Features

Bye bye! Photographer: Michael Zarrilli/Getty Images North America via Bloomberg

Three major takeaways from the FBI search on Trump’s home

10h | Panorama
Photo: Noor A Alam/TBS

Big dreams in small rooms: The aspiring nurses of Geneva Camp

13h | Panorama
Illustration: TBS

How to deal with toxic people at work

13h | Pursuit
Women were more likely to report leaving the workforce between March 2020 and September 2021 than their male counterparts. PHOTO: BLOOMBERG

Being single and smart is bad for your career if you are a woman

13h | Pursuit

More Videos from TBS

Control on liquor import boosts local Carew sales

Control on liquor import boosts local Carew sales

2h | Videos
Is Bangladesh losing opportunity to sent more expats to the Middle East?

Is Bangladesh losing opportunity to sent more expats to the Middle East?

3h | Videos
When hassles at airport will come to an end?

When hassles at airport will come to an end?

5h | Videos
How to spot a Pyramid Scheme?

How to spot a Pyramid Scheme?

6h | Videos

Most Read

1
Dollar crisis: BB orders removal of 6 banks’ treasury chiefs 
Banking

Dollar crisis: BB orders removal of 6 banks’ treasury chiefs 

2
Diesel price hiked by Tk34 per litre, Octane by Tk46
Energy

Diesel price hiked by Tk34 per litre, Octane by Tk46

3
Photo: Collected
Transport

Will Tokyo’s traffic model solve Dhaka’s gridlocks?

4
Infographic: TBS
Banking

Dollar rate will be left to market after two months: Governor

5
Arrest warrant against Habib Group chairman, 4 others 
Crime

Arrest warrant against Habib Group chairman, 4 others 

6
File Photo: State Minister for Power, Energy and Mineral Resources Nasrul Hamid
Energy

All factories to remain closed once a week under rationing system

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]