RegulatoryPRIMELIFE
Brokers Asked to Suspend Margin Loans for PRIMELIFE Shares
Announcement summary
- What happened
- Brokers and merchant bankers were asked to stop providing margin-loan facilities for purchases of PRIMELIFE shares.
- Company
- Prime Islami Life Insurance Ltd.
- Announcement published
Original announcement
(Continuation news of PRIMELIFE): by violating the circular of Bangladesh BSEC derivative no. BSEC/CMRRCD/2009-193/203 Dated December 28, 2017. Also, for margin loan of BDT 62,912,383 and BDT 396,656,912 there is doubtfulness over the recoverability as there is no collateral equity share against the receivable amount from the clients. The company has not made any provision against the any possible credit losses according to IFRS- 9 para- 5.5.1 and 5.4.4. (cont. 15)
Source & verification
- Source
- Published company disclosure
- Published through
- Dhaka Stock Exchange
- Announcement ID
- 616ace8c5a6b000040055fbd
- Original publication
- Last verified by BullBD
- Translation
- BullBD
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