July sees decline of nearly 23,000 BO accounts, average 915 closed per day

Despite signs of an upward trend in the stock market, the number of Beneficiary Owner (BO) accounts has declined significantly in the recently concluded month of July. Nearly 23,000 BO accounts were closed in a single month, averaging 915 per working day.

According to data from the Central Depository Bangladesh Limited (CDBL), the total number of BO accounts in the country stood at 16,52,365 as of August 4. At the end of June, the number was 16,75,252. As a result, 22,887 BO accounts were closed in one month.

During this period, BO accounts of local investors decreased by 21,578, while accounts of foreign and expatriate investors fell by 1,180. At the same time, accounts of male investors dropped by 17,228 and female investors by 5,530.

According to the data, single-name BO accounts declined by 15,028, while joint-name BO accounts fell by 7,730. Additionally, corporate BO accounts also decreased by 192.

Investors use BO accounts to trade in the stock market, and CDBL is responsible for maintaining records of these accounts.