What is a BO account?
A Beneficiary Owner (BO) account is an electronic account that holds your shares in dematerialized (digital) form. Without a BO account, you cannot buy, sell, or hold any shares on the Dhaka Stock Exchange. It is maintained by a Depository Participant (DP), which is usually your broker.
Types of BO accounts
- Individual account — for a single person
- Joint account — for two people (e.g., husband and wife)
- NRB account — for Non-Resident Bangladeshis
- Company account — for institutional investors
Documents required
- National ID Card (NID) — front and back copy
- Two recent passport-size photographs
- Bank account details (account number, routing number, bank name)
- Bank statement or cheque leaf (some brokers require this)
- TIN certificate (Tax Identification Number) — for accounts above a certain investment level
- Nominee information with their NID copy and photograph
Step-by-step process
- Step 1: Choose a BSEC-registered broker or DP (see the CDBL or DSE website for the full list)
- Step 2: Visit the broker's office or use their online portal if available
- Step 3: Fill out the BO account opening form with personal and bank details
- Step 4: Submit the required documents (originals for verification, photocopies to submit)
- Step 5: Pay the one-time account opening fee (typically ৳400–৳600)
- Step 6: Receive your BO account number (16-digit) within 1–3 working days
Choosing a broker
Pick a broker registered with the Bangladesh Securities and Exchange Commission (BSEC). Consider: ease of online trading platform, customer support quality, brokerage commission rates (typically 0.25%–0.50% of trade value), and proximity of their office. Some well-known brokerage houses include EBL Securities, LankaBangla Securities, UCB Stock Brokerage, and BRAC EPL.
Annual fees and charges
- Annual maintenance fee: ৳400–৳600 (charged by CDBL through your broker)
- Some brokers waive the first year's fee as a promotion
- No charge for holding shares — you only pay when you trade
After your account is open
You will receive a BO ID (your 16-digit account number). Keep this safe — you need it for all transactions, IPO applications, and dividend collection. Link your bank account properly so dividends and sale proceeds are deposited directly.