BSEC to allow foreign outlets for brokerage firms
The Bangladesh Securities and Exchange Commission (BSEC) will allow the brokerage firms to open foreign outlets for non-resident Bangladeshi investors.
BSEC Chairman Professor Shibli Rubayat-ul-Islam recently gave informal directions to the managing directors of both stock exchanges.
The stock exchanges will take necessary steps in this regard.
According to the direction, interested brokerage firms will be able to open foreign outlets for non-resident Bangladeshi investors in several countries.
The investors will be able to complete money settlement, cash deposit and withdrawal by using the outlets. Share trading-related activities will be completed through the outlets.
When investors deposit any currency from abroad, that currency will be converted into taka in their Beneficiary Owners Account.