The commission has extended the time for provisioning till December 31, 2023 due to the Covid-19 pandemic
The Bangladesh Securities and Exchange Commission (BSEC), has extended the time limit for provisioning for stock dealer accounts, client margin accounts of stock brokers and merchant banks' own and client portfolios against unrealised losses.
The commission has extended the time for provisioning till December 31, 2023 due to the Covid-19 pandemic.
In response to the application of DSE Brokers Association of Bangladesh and Bangladesh Merchant Bankers Association, the securities regulator has extended the time limit in a meeting held on Thursday.
There is no need for provisioning against unrealised losses in 2020 and anyone can take the opportunity, said the regulator.
But, after this period, all organisations have to follow International Financial Reporting Standards for provisions.
After a terrible collapse in the stock market in 2010, the securities regulator issued a directive about provisions against unrealised losses in 2013.
Later the regulator extended the time period several times responding to the application of related firms.