DSE promises to pay out Crest customers in move to relieve financial specialist fears

Dhaka Stock Exchange vowed to return offers and assets to the customers of Crest Securities Ltd after its proprietor covered the business house and vanished.

The DSE says it needs to “set a model” by discovering ways for the financial specialists to get back their cash soon.

The financial specialists will be required to send data inside 15 days, DSE Managing Director Kazi Sanaul Hoq said in an online media instructions on Sunday. “We need to complete everything as quick as could be expected under the circumstances.”

The DSE was evaluating the total assets of Crest’s resources for look at in the case of selling them would be sufficient to pay out the speculators, as per Hoq.

The stock trade has taken the issue “truly” as the conclusion of the financier house with no earlier notification has left its speculators stressed over their cash and offers in the midst of the coronavirus emergency, Hoq said.

Around 21,000 records on Crest Securities have shares worth Tk 820 million as of Jun 25, the DSE overseeing chief said refering to information from the Central Depository Bangladesh Limited, or CDBL.

The DSE will sell its Tk 100 million worth of offers with CDBL to pay the Crest speculators, if vital, Hoq said.

Hoq said the DSE offered shares from Crest to “modify its settlement disappointment” on Jun 23 and stopped its exchanges on the next day.

It asked Bangladesh Bank through Bangladesh Securities and Exchange Commission to freeze financial balances of Crest chiefs.

The stock trade additionally educated police and migration specialists so the individuals associated with Crest can’t escape Bangladesh, Hoq said.

As indicated by the data given on the site of the financier house, Crest Securities was consolidated in 2006. The organization has three branches in Dhaka, Narayanganj and Cumilla. The proprietor of the house is Md Shahid Ullah.

The organization couldn’t reimburse bank credits due to the coronavirus emergency, the proprietor of another financier house told bdnews24.com, looking for secrecy. The financial specialists’ cash has likewise been stuck and the entire circumstance has constrained the Crest specialists to close the workplaces, he included.

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