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Bank Asia going scripless with CDBL
FE Report
12/27/2005
Bank Asia signed an agreement with the Central Depository Bangladesh Ltd. (CDBL) in the city recently.
President and Managing Director of Bank Asia Syed Anisul Huq and Managing Director and CEO of CDBL MH Samad signed the agreement on behalf of their respective organisations.
The agreement provides for dematerialisation of shares of the bank traded on both the local stock exchanges through the central depository system (CDS) of the CDBL involving conversion of the share certificates of the bank into an electronic form.
This will help eliminate the risk of damage, loss, forgery and duplication of the share scrips. The electronic book entry under the CDS will also ensure prompt transfer of share ownership.
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