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How to open an account

Customer Account Information Form:

Foreign investors need to fill a Customer Account Information Form with BRAC EPL STOCK BROKERAGE LTD. The form is different for individual investors and institutional investors. Foreign investors need to send the form (hard copy) to the brokerage house, duly filled and signed by authorized personnel. They also need to attach photocopy of other required documents (hard copy), stated below:

For institutional investors

 

  • A copy of the Memorandum and Articles of Association of the company.
  • A copy of the Certificate of Incorporation of the company.
  • A copy of the Authorization/Board Resolution to open and operate the account with us.
  • A copy of the Authorization/Board Resolution authorizing the executives to operate the account, including their photographs.

For institutional investors

  • A copy of the Memorandum and Articles of Association of the company.
  • A copy of the Certificate of Incorporation of the company.
  • A copy of the Authorization/Board Resolution to open and operate the account with us.
  • A copy of the Authorization/Board Resolution authorizing the executives to operate the account, including their photographs.

B/O Account Opening:

For BO account opening, foreign investors need to open a Custodian Account with any custodian bank in Bangladesh. Previously, the foreign banks, such as Standard Chartered Bank (SCB) & Hong Kong and Shanghai Banking Corporation (HSBC), were providing custodian services to foreign investors. However BRAC Bank and some of the other local banks are also providing the same service to the investors. Together with BO account opening, the custodian bank will take care of other account opening, such as Cash Account (or NITA A/C), Securities A/C and F/C Account. Following is a list of custodian banks:

  • BRAC Bank Limited
  • Hong Kong and Shanghai Banking Corporation
  • Standard Chartered Bank
  • Citi NA