The Beneficiary Owners Account (BO Account) will be open for trading in the capital market from Tuesday (February 9). Both domestic and foreign investors will be able to open this BO account.
Mohammad Rezaul Karim, executive director and spokesman of the Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market, confirmed the matter to Jago News.
He said the opening of the online BO account would be officially inaugurated on Tuesday. BSEC Chairman Professor Shibli Rubaiyat-ul Islam Bideshi in Dubai and Commissioner from the BSEC office. Sheikh Samsuddin Ahmed will inaugurate the online BO account of domestic investors.
On this occasion, an event has been organized at the BSEC Multipurpose Hall at 3 pm on Tuesday, the BSEC spokesperson said.
According to the relevant sources, an investor has to go to the designated website and log in with his mobile number and e-mail in the first step of opening a BO account. Immediately a secret password will be sent to the investor’s mobile and e-mail. It can only be used once, hence it is known as OTP or One Time Password. That one investor will have to go to the next step with that password. In a few steps, the investor’s national identity card, bank account number, copy of bank check, investor’s photo, scanned copy of signature must be uploaded.
Even the investor has to choose the brokerage house of his choice. The application will then go to the investor’s preferred brokerage house. The application will be accepted if all is well after verification and selection by the brokerage house. Then a notification will automatically go to the investor’s mobile and e-mail. After receiving that notification, the investor has to pay the BO fee. After depositing the BO fee, the concerned brokerage house will upload it in the system of CDBL. And the investor will get the successful message in mobile and e-mail.