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24-May-2015
IPO Application Form (A4)

20-Feb-2014
Notice for change Margin Loan Ratio

28-Nov-2013
Notice for Fund Withdrawal in Margin Account

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Notice for maintaining minimum purchase power in Margin Account

Daily Business News All Daily Business News
06 Jul 2014
ICB seeks another Tk 300cr for affected stock investors

The Investment Corporation of Bangladesh has sought the second instalment or Tk 300 crore of a Tk 900-crore refinance scheme from the central bank for the stock investors who were affected by a market debacle two and a half years ago. The state-run ICB has already disbursed around Tk 300 crore among the investors and sent a letter to Bangladesh Bank on Thursday for the new fund.

The finance ministry approved the refinance scheme in August last year in line with a government compensation package for the ailing stockmarket. “From the first instalment, we have disbursed Tk 299.82 crore to 10,568 affected investors through 11 merchant banks and four stockbrokers,” said Md Fayekuzzaman, managing director of ICB. “But we have allocated Tk 419.65 crore so far to 14,353 investors through 19 merchant banks and 16 stockbrokers. So, we need the second instalment,” he said.

Retail investors with less than Tk 10 lakh in exposure during the period between January 2009 and November 2011 are eligible for the fund. The ICB receives the fund from the central bank at an interest rate of 5 percent and lends it to merchant banks and stockbrokers at 7 percent. The merchant banks and stockbrokers disburse the fund among retail investors at a rate of 9 percent, while borrowers have to clear payments in three months.

Until last week, 20 merchant banks and 23 stockbrokers have applied for Tk 483.76 crore involving 16,380 affected investors. However, the ICB managing director said some merchant banks and stockbrokers have lost interest in the refinance scheme as it offers low returns for them. “We sat with some top merchant banks last week to encourage them to apply for the fund,” he said. “If the merchant banks and stockbrokers do not use the fund, retail investors will be affected,” Fayekuzzaman added.

The surveillance committee of the refinance scheme also extended the deadline for applications for credit by three months to September. The surveillance panel, comprising representatives from the central bank, Bangladesh Securities and Exchange Commission and ICB, is responsible for monitoring the scheme's operations and submitting a report to the finance ministry every quarter.

Source :: The Daily Star