BackGround
ICB Securities Trading Company Limited (ISTCL) emerged as a public sector stock broking company just after the introduction of Automated Trading System in the country. The then Transaction Department of Investment Corporation of Bangladesh (ICB) turned into ISTCL adopting electronic trading system and upgraded technology in delivering services. At the opportune moment, ISTCL was established amidst high hopes and aspirations of the country’s investors in trading securities.
The company started with an authorized capital of Tk. 50.00 crore and paid up capital of Tk. 1.25 crore and at present paid up capital has increased to Tk. 33.75 crore. ISTCL has passed 11 years of its voyage of providing full-fledged standard brokerage service and is flying fast to rise and prosper. Now-a-days, ISTCL has become country’s leading stock brokerage service provider and gained trust and reliability of both the individual and institutional investors.
Under the provisions contained in Section-2 of the Companies Act 1994, ISTCL was formed as a fully owned subsidiary company of ICB to act as a member of stock exchanges. It was formed as part of the restructuring programme of ICB under Capital Market Development Programme (CMDP) initiated by the Government of Bangladesh (GoB) and the Asian Development Bank (ADB) and in terms of power conferred in the ICB Ordinance.
The company was incorporated with the Registrar of Joint Stock Companies and Firms under the Companies Act 1994 on 05 December 2000. The company obtained license from the Securities and Exchange Commission (SEC) on 11 August 2002 to carry on the stock brokerage business with Dhaka Stock Exchange Limited. The company started its operation on 13 August, 2002 upon the issuance of gazette notifications by the Government. The company obtained license from SEC for stock brokerage functions with Chittagong Stock Exchange Limited on 07 February, 2004 and it started its function as Stock Dealer from 15 February 2010. The company is being operated pursuant to its own Memorandum and Articles of Association, SEC’s rules and regulations and other applicable laws. It has independent Board of Directors and separate management.
ISTCL is widely recognized today for its exceptional delivery of service, simplicity and transparency. The company has stood out for its financial strength and operational efficiency making its position as the market leader in all core areas of securities market in the country. With an ongoing focus on effecting strategies and priorities, controlling risks and expenses and the finest team of people working together with business ethics, the company will make the best of today for the benefit of all of its stakeholders.