DSE To Pay Tk 72 Crore To 17,332 Investors Hit By Brokerage Scams: Compensation Begins September 28

Dhaka, September 25, 2026 — The Dhaka Stock Exchange (DSE) will pay up to Tk 5 lakh each to 17,332 investors affected by the embezzlement of five brokerage houses. The compensation process is set to begin on September 28, DSE Chairman Mominul Islam announced at a press conference today at the bourse's office in Nikunja, Dhaka.

🏦 The Five Defaulting Brokerage Houses

The five brokerage houses involved in the embezzlement are:

• 🏢 Moshihor Securities
• 🏢 Banco Securities
• 🏢 Crest Securities
• 🏢 Tamha Securities
• 🏢 Shah Mohammad Sagir & Company Ltd

📊 Compensation Details

• 💰 Total claims submitted: 17,925 investors claimed more than Tk 250 crore
• 💰 Investors receiving compensation: 17,332 (nearly 97 per cent of claimants)
• 💰 Total compensation amount: Tk 72 crore from the Investors Protection Fund (IPF)
• 💰 Maximum per investor: Tk 5 lakh
• 💰 Already paid (earlier phase): Tk 37.60 crore through joint IPF and brokerage house initiative
• 💰 Compensation start date: September 28, 2026

💬 DSE Chairman's Statement

DSE Chairman Mominul Islam said the payout means nearly 97 per cent of the investors who submitted claims will receive their full dues.

So far, some of the affected investors have received Tk 37.60 crore in compensation through a joint initiative of the IPF and the brokerage houses, according to the DSE chairman.

Measures are also being taken to repay the outstanding amounts owed to the remaining investors through the sale of assets and shares of the defaulting brokerage houses and from the IPF, he said.

Terming the compensation initiative a “milestone” event for the country's capital market, Mominul said [the DSE is committed to protecting investor interests].

🏛 The Investors Protection Fund (IPF)

The Investors Protection Fund (IPF) is a mechanism established by the DSE to compensate investors who suffer losses due to broker default or fraud. Key features:

• 🏦 Funding source: contributions from DSE, brokers, and other market participants.
• 🏦 Purpose: compensate investors for losses from broker embezzlement, misappropriation, or insolvency.
• 🏦 Maximum compensation: Tk 5 lakh per investor.
• 🏦 Eligibility: investors with verified BO (Beneficiary Owner) account claims against defaulting brokers.
• 🏦 Management: overseen by a board including DSE, BSEC, and investor representatives.

💼 Why This Compensation Matters For Bangladesh's Capital Market

The Tk 72 crore compensation payout is significant for several reasons:

• 💰 Investor confidence restoration — the payout demonstrates that investors can recover losses from broker fraud.
• 💰 Capital market credibility — the DSE's willingness to compensate investors strengthens the exchange's reputation.
• 💰 Regulatory effectiveness — the payout shows that the IPF mechanism can deliver meaningful results.
• 💰 Deterrent effect — the compensation process sends a signal to brokers that fraud will have consequences.
• 💰 Market participation incentive — knowing that investor protection exists may encourage new retail participation.

📜 The Brokerage Scam Background

The five defaulting brokerage houses were involved in embezzlement of investor funds — a scandal that shook Bangladesh's capital market. Key aspects of the scandal:

• ⚠ Embezzlement method: the brokerages misappropriated investor funds and shares from BO accounts.
• ⚠ Number of affected investors: 17,925 claimants submitted claims.
• ⚠ Total claim amount: more than Tk 250 crore.
• ⚠ Timeline: the scandal emerged in 2024, with investigations and asset recovery ongoing.
• ⚠ Regulatory action: BSEC and DSE investigated the brokerages and initiated the IPF compensation process.

💰 Remaining Compensation For Uncovered Investors

For the approximately 3 per cent of claimants who will not receive full dues from the IPF (which has a Tk 5 lakh per investor cap), the DSE is pursuing additional recovery through:

• 💰 Sale of defaulting brokerage assets — including real estate, equipment, and other holdings.
• 💰 Sale of defaulting brokerage shares — in listed companies.
• 💰 Additional IPF disbursements — as more funds become available.
• 💰 Legal proceedings — against the defaulting brokerages' directors and officers.

💼 Bangladesh's Capital Market Context

The compensation comes at a challenging moment for Bangladesh's capital market:

• 📈 DSEX volatility — the benchmark index has been under pressure throughout 2026.
• 📈 Banking sector stress — with elevated NPLs affecting investor sentiment.
• 📈 Digital platform for mutual funds — expected to go live by mid-November 2026.
• 📈 DSE targeting 10 blue-chip listings by 2027 — to broaden the investable universe.
• 📈 RANCON Motor Bikes planning IPO — demonstrating continued listing interest.

The compensation payout provides a positive counter-narrative to the broader market challenges — demonstrating that investor protection mechanisms can deliver results.

📜 Looking Ahead

For the 17,332 affected investors, the September 28 compensation start date represents the culmination of a long wait for justice. The key next steps include:

• 📝 Compensation distribution — beginning September 28 through the IPF.
• 📝 Remaining investor recovery — through asset sales and legal proceedings.
• 📝 Brokerage regulation strengthening — to prevent future similar incidents.
• 📝 IPF fund augmentation — ensuring sufficient resources for future investor protection.
• 📝 Digital monitoring systems — to detect broker irregularities earlier.

For Bangladesh's capital market, the Tk 72 crore compensation represents a milestone — not just in financial terms, but in demonstrating that the system can hold brokers accountable and protect investor interests. The coming months will reveal whether this milestone can translate into broader market confidence recovery.