Letter to inform the amount of money of the banks in the stable fund of capital market

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Bangladesh Bank has written to the banks to know how much money or undistributed and unclaimed dividends have been paid by the banks in the Capital Market Stabilization Fund (CMSF).

capital market
capital market

Today, Thursday (January 13), Bangladesh Bank sent a letter to the listed banks asking for information in this regard. It has been asked to send this information by January 18. The concerned official of Bangladesh Bank has confirmed the matter.

Incidentally, on July 1 last year, a gazette was issued to form a stable fund in the capital market. According to the BSEC, the fund was set up to invest huge amount of unclaimed and undistributed money of various companies in the capital market.

The company also gave the idea that the amount of unclaimed and undistributed money is 16 thousand crore rupees. However, according to BSEC sources, about Tk 400 crore has been deposited in the fund so far.

According to the rules of fund formation, from now on, if the money of an investor or a customer of a company in the stock market has been in a state of disrepair for more than three years, it will have to be transferred to the new fund.

The funds will be used for the development of the stock market. However, if any investor ever claims his dividend by showing the required documents, it will be disposed of from the fund after scrutiny.