Under the deal the CDBL will convert the paper shares of Bank Asia into electronic ones through Central Depository System (CDS) which will help eliminate the risk of damage, loss, forgery and duplication of the share certificates, says a press release.

Syed Anisul Huq, president and managing director of Bank Asia, and MH Samad, managing director and CEO of CDBL, signed the agreement on behalf of their organisations.

The electronic book entry under CDS will also ensure prompt transfer of share ownership, the release added.