DSE halts trade of Tamha Securities

Dhaka Stock Exchange yesterday halted trade of stock brokerage firm Tamha Securities on receiving allegations of it embezzling investors' money.

"For the sake of general investors, Tamha Securities' trading, business operations and activities as a depository participant has been halted," said the premier bourse in a circular.

However, investors are allowed to transfer shares by opening a linked account with any other stock brokerage firm, it said.

The DSE also sought observations and allegations against Tamha Securities.

This is the fourth such firm facing such allegations. Previously Dawn Securities, Crest Securities and Banco Securities were accused of engaging in the malpractice.

"We found a huge number of allegations against the brokerage firm of embezzling investors' funds, so we decided to halt its trading," said a top DSE official, preferring anonymity.

The DSE is now working to compile all allegations, he said.

"Such embezzlement have an effect on investors' confidence so we are strict on it," he added.

Md Harunur Rashid, managing director of Tamha Securities, did not receive The Daily Star's phone calls for comment.