BSEC unveils draft rule to form stock market stabilisation fund

[Source: TBS] Aiming to provide liquidity support to the capital market, the Bangladesh Securities and Exchange Commission (BSEC) will form a fund with the unpaid dividends.

The fund will be run under the name of Stock Market Stabilisation Fund. The BSEC claimed that there are dividends worth Tk21,500 crore which have remained unsettled for a long time in several companies.

The securities regulator has framed a draft regulation and unveiled it for the public opinion for formation and execution of this fund.

The draft rules said the main objectives of the fund are ensuring liquidity support to the capital market by buying and selling listed securities, lending and borrowing of listed securities for short selling and through settlement of the investors’ claim.

The fund will be formed by transferring dividends which have remained unpaid, unclaimed or unsettled for more than three years.

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