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Question: What is a BO Account?
Answer: BO Account stands for Beneficiary Owners Account. This is the account that holds your shares like an inbox holding all your emails. All shares from new IPO’s and most of secondary market shares are in electronic form and a BO account, owned by the investor, holds the electronic shares. Any NRB can open a BO account through Mika Securities Limited by filling required forms and submitting required documents.

Question: Who can open a BO account?
Answer: Bangladeshi Residents, institutions originated in Bangladesh, Foreign Company/Institutions and NRB (Non-Resident Bangladeshi) can open a BO account providing required valid documents.

Question: Can anyone open a BO account?
Answer: Of course, if you are above 18 years of age and have your National Identity Card or Passport, you can open a BO account.

Question: How do I open a BO account?
Answer: To open a BO account, you have to submit all required documents along with a duly filled up form. You also need to pay the BO account opening fee. Then, your documents and information will be verified. After that, your BO account will be opened within 2 working days.

Question: What are Mandatory Requirements for opening a BO Account?
Answer: The requirements of opening a BO account are as follows:

  1. Filled up BO account opening form & KYC Form
  2. 2 copies of Passport size photographs
  3. A copy of National ID card or Passport
  4. Passport size photographs for Nominee/ Power of attorney / Authorized Personnel
  5. Bank Status or Account Details/ Routing Number or photocopy of MICR Cheque leaf
  6. Registered Mobile Number
  7. Valid Email Address