The securities regulator has ordered freezing of BO (beneficiary owner's) accounts of five former cabinet members, a lawmaker and their family members.
The individuals, whose BO accounts will be frozen, include former home minister Asaduzzaman Khan Kamal, his wife Lutful Tahmina Khan, his son Safi Muddaser Khan and daughter Shafia Tasnim Khan.
To this effect, the Bangladesh Securities and Exchange Commission (BSEC) on Thursday issued an order and asked the depository authority to implement the order.
The BSEC said the said cabinet members, a lawmaker and their family members have or may have investments in listed securities and many of them were on the boards of the listed companies.
The commission said it feared investment related irregularities by the individuals and that it sought to contain such possibilities.
"The BO accounts of the individuals mentioned in the BSEC order will be closed before the opening of Sunday's trading session," said acting managing director of Central Depository Ltd. (CDBL) Md. Abdul Mutaleb.
The BO accounts of former foreign minister Mohammed Hasan Mahmud, his spouse Nurun Fatema Hasan, and his daughter Nafisa Zumaina Mahmud will also come under the regulatory action.
The BSEC has asked the depository authority to freeze the BO accounts of former state minister Zunaid Ahmed Palak and his spouse Arifa Jesmin Konika too.
Moreover, the BO accounts of former land minister Saifuzzaman Chowdhury Javed, his spouse Rukhmila Zaman Chowdhury, his sister Roxana Zaman Chowdhury, his brother Anisuzzaman Chowdhury, his daughter Zeba Zaman Chowdhury and an individual, related to this minister, namely Zara Zaman will also be frozen.
The BO accounts of former state minister of the information ministry Mohammad Ali Arafat and his spouse Sharmin Mustary will be frozen as well.
Former lawmaker Mohiuddin Maharaj and his spouse and son will face the same regulatory action.
The securities regulator said funds could be deposited into the BO accounts of these individuals but no withdrawal would be allowed during the period of account suspension.
Meanwhile, the central bank has taken measures to freeze the bank accounts of the individuals.
The securities regulator recently has frozen the BO accounts of 13 other individuals, including former BSEC chairman Prof Shibli Rubayat Ul Islam, and their family members.
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