The money kept in the investors in the capital market is deposited in a single account. It is known as CCA or integrated customer account. The interest that comes from the bank at that money was a controversial resource for so long. Although the investors had the right to the money, they did not have direct ownership on interest. Again the brokers could not say this money completely their income.
Over the years, this interest money has gone to the brokers' house. Taxes have been paid; As shown as income. However, the Bangladesh Securities and Exchange Commission (BSEC), the regulatory body of the capital market, is going to interfere with that continuation. BSEC observations, this rule can no longer be allowed to continue. For this purpose, the law is being reformed. The BSEC's initial draft law points out, 'CCA's profit is not anyone.' That is, neither investor nor brokers. That is why CCA's profit will not fall. However, how to use that money, who will enjoy it; It has been clarified in the draft of the law. Where it is indicated, the BSEC will directly control the profit of the CCA.
The draft rules say that this interest is not a personal income of the brokers. 20 percent of this will go to the Investors Protection Fund of the Stock Exchange and the remaining 5 percent will cost investors to invest in investment education and awareness. This decision should not be claimed by anyone to claim their wealth. However, this new decision has created some more controversy.
According to analysts, the main source of this money is the capital of investors. So without the permission of the investors, the question of spending money is arising. Many people say, where is the money spent in the name of education, where is the calculation? How much is useful? Who will see
Brokers are dissatisfied with this decision. President of the DSE Brokers Association Saiful Islam told today's newspaper, 'Tax is paid in this money. Then it is not income – it is legally inconsistent. '
The BSEC says the brokers could return the profit from the beginning to the proportion of investors from the beginning. But they did not do so, but this money went to the brokers' undisclosed income sector. So this time the regulatory organization is directing the use of direct use.
Here are some more questions, such as the effectiveness of the investment education project? What is the impact of the projects that have been done before? Now the money will be spent, where will it go? Who will oversee? The BSEC draft did not answer these questions.
Analysts say it is a kind of resource transfer. Investors' income is being removed in a new sector, which they have no control. Al-Amin, an analyst in the capital market and associate professor of accounting at Dhaka University, said that when the market is in confidence, such decisions can reduce the confidence of investors.
According to the people concerned, this decision will have a big impact on the brokers. Because, from CCA interest, they received a regular income. If it is closed, their income will be reduced. As a result, there may be a crisis of wars and the cost of the technology sector can be reduced. So as the controller's draft is bringing control, it is creating uncertainty.
Asked about this, BSEC director and spokesman Abul Kalam said the draft website had been published on the website. Public opinion was sought there. Anyone can advise or objection to the matter till May 12.
Now, the money that is being taken in other sectors by the interests of investors' interests, whether it benefits them; Or is it a kind of money transfer, which does not have any accountability or transparency.
