Star Business Report

Bangladesh Bank has frozen the bank account of Banco Securities.

The central bank took the decision on Monday following a request from the Dhaka Stock Exchange (DSE).

The banking regulator has also frozen 10 accounts of other companies owned by the directors of Banco Securities.

A top official of the DSE said to protect investors’ money, they asked the central bank to freeze the accounts so that they cannot withdraw any funds.

Earlier on June 15, the DSE had filed a general diary against Banco Securities on discovering a shortfall of Tk 60 crore in its consolidated customers’ account.

Such accounts are meant to hold money that investors provide to a brokerage house to do trade on their behalf. Whatever transactions made are supposed to add up in the balance.