The Bangladesh Securities and Exchange Commission (BSEC) inaugurated the digital Beneficiary Owners' (BO) account opening system on Tuesday, February 9. The move opens the path for stock market investors, especially non-resident Bangladeshis (NRBs) to open BO accounts online.
According to the regulator, opening BO accounts will now be easier as investors will not need to go to brokerage houses in person and online BO account opening will also increase investors' participation in the stock market.
In order to open BO accounts online, investors need to go to the Central Depository Bangladesh Ltd (CDBL) website and select the "depository participant" option after which they will be prompted to fill in the necessary information including their NID card numbers.
They also need to fill in banking information and will receive a confirmation message if the information is correct.
Tk 450 will be charged to investors for opening a BO account with a brokerage house. Investors will also be able to pay BO account charges, through online payment systems.