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ACCOUNT

Q: How can I update my account details?

To amend basic details in your BMA Trade account records and CDC records, you are requested to send us a written request duly signed by account holder(s).

 

The signature(s) of account holder(s) should match with records provided in the Account Opening Form.

 

Attached is Account Updation Form for your convenience.

 

You can send us the account updation form through courier at our registered postal address or email us scanned copy of the duly signed account updation form at bmatrade@bmacapital.com from your registered email address.

 

Your request will be entertained as soon as we get your written instructions. The request will be entertained within 24 hour working hours and it will be intimated through email and sms.

 

Please note: signature(s) of Joint Account Holder(s) will also be required in case of Joint Account.

Q:How can I get a new password?

In order to generate new password, you are requested to email us at bmatrade@bmacapital.com from your registered email address with BMA Trade.

 

After verification of your email address, the new password will be emailed to you in the least minimum time.

Q: How to reactivate my account ID / How to unblock my account ID?

Account ID is blocked only after three unsuccessful login attempts by user mainly due to input of wrong user id or password.

 

For reactivation, kindly email us at bmatrade@bmacapital.com along with your BMA Trade Account number from your registered email address.

 

Your Account ID will be activated in minimal time on receipt of your request.

Q: How can I activate CDC web/IVR/SMS services?

To activate CDC SMS/IVR/Web services facility, you are requested to send us a written request duly signed by account holder(s).

Attached is draft written request Account Updation Form for your convenience.

You can send us your written request through courier at our registered postal address or email us scanned copy of the duly signed written request at bmatrade@bmacapital.com from your registered email address.

Your request will be entertained as soon as we get your written instructions. The request will be entertained within 24 working hours and it will be intimated through email and sms.

Please note that signature(s) of Joint Account Holder(s) will also be required in case of Joint Account.

Q: Can I change my account package?

For changing account package, you are requested to send us Account Package form (attached) duly signed by Account holder and Joint account holder(s) if any, after marking your selected package.

 

You can send us the account package form through courier at our registered postal address or email us scanned copy of the duly signed account package form at bmatrade@bmacapital.com from your registered email address.

Q: How can I activate CDC web/IVR/SMS services?

To activate CDC SMS/IVR/Web services facility, you are requested to send us a written request duly signed by account holder(s).

Attached is draft written request Account Updation Form for your convenience.

You can send us your written request through courier at our registered postal address or email us scanned copy of the duly signed written request at bmatrade@bmacapital.com from your registered email address.

Your request will be entertained as soon as we get your written instructions. The request will be entertained within 24 working hours and it will be intimated through email and sms.

Please note that signature(s) of Joint Account Holder(s) will also be required in case of Joint Account.

Q: Can I change my account type?

There are two types of accounts

Classic account: Account Operated by client accessed via web terminal and downloaded terminal and mobile app

Premium account: Trader Facility available along with web and downloaded terminal and mobile app

You can move from one account type to another.

For changing account package, you are requested to send us Account Package form (attached) duly signed by Account holder and Joint account holder(s) if any, after marking your selected package.

 

You can send us the account package form through courier at our registered postal address or email us scanned copy of the duly signed account package form at bmatrade@bmacapital.com from your registered email address.

Q: How can I deposit funds in my trading account

You can deposit amount through cash/cheque/DD/Pay order at any branch of Bank Al Habib Limited. Please mention your Account Title and BMA Trade User ID on deposit slip and send us scanned copy of deposit slip at bmatrade@bmacapital.com

 

“Our Bank Account Details”

Name of BankBank Al-Habib Limited
Title of AccountBMA Capital Management Limited
Bank Account No1012-0081-003828-01-0
IBAN NoPK12BAHL1012008100382801
Bank BranchPakistan Stock Exchange
Branch Code1012
IBFT No1012-0081-003828-01-0
 

On receiving your deposit slip, funds will be credited in your BMA Trade Trading Account as per following:

 

1. Cash deposit: Within the next couple of hours

2. Cheque deposit: Subject to clearance from bank

 

The above timings are subject to working days between working hours i.e. Monday to Friday between 9am to 5pm.

 

Important: Please note that maximum limit to deposit Cash is Rs. 25,000/-. However amount above Rs. 25,000/- can be deposited through crossed cheque and it should be from your Bank account.

Q: Can I transfer funds in my trading account online?

You can transfer funds online directly from your bank account to BMA Capital Management bank account using Inter Bank Funds Transfer (IBFT) facility offered by commercial banks. Once the transaction is executed, you will receive confirmation email from your bank. Kindly forward that confirmation email to us at bmatrade@bmacapital.com from your registered email address and don’t forget to mention your BMA Trade User Id.  

Our Bank Account Details

 
Name of BankBank Al-Habib Limited
Title of AccountBMA Capital Management Limited
Bank Account No1012-0081-003828-01-0
IBAN NoPK12BAHL1012008100382801
Bank BranchPakistan Stock Exchange
Branch Code1012
IBFT No1012-0081-003828-01-0
 

On receiving your email, funds will be credited in your BMA Trade Trading Account within the next couple of hours (subject to working days i.e. Monday to Friday between 9am to 5pm).

Q: How can I withdraw cash from my trading account?

Following is the procedure for submitting cash withdrawal request from your Software, Web based terminal or Mobile App:-

 

1. Select “Cash withdrawal” option from “Trading Menu”

2. Select Operation type “Bank Transfer or Cheque Delivery”

3. Input amount you want to withdraw in “Cash Amount” field

4. Click on “Submit” button

 

Please note that your withdrawal request depends upon availability of amount due on settlement, CGT liability and minimum maintenance balance policy of Rs.1, 000/- cash in your account.

 

You can confirm your Cash Withdrawal Limit from Portfolio > Margin Detail View.

Trading Charges

Q: what are CDC and NCCPL’s account maintenance charges?

Please note that The National Clearing Company of Pakistan Limited (”NCCPL”) and Central Depositary Company (“CDC”) charges account maintenance fee on annual basis to all account holders maintaining UIN and CDC Sub account.

 

Details of annual account maintenance fee by NCCPL and CDC

 

The annual maintenance UIN fee of NCCPL is Rs. 200 per applicant

 

The annual maintenance fee for CDC Sub account is Rs.400 per account.

Q: What types of taxes are charged on my trading? Is there any tax charged on my trading?

The taxes deducted on trading activity are Federal Excise Duty (“FED”) or Sindh Sales Tax (“SST”).

Moreover since the implementation of Capital Gains Tax (“CGT”), the same is also debited from client’s trading account. The National Clearing Company of Pakistan (“NCCPL”), process CGT on monthly basis.

Following are the details:

FED or SST:13% of the brokerage/commission amount
CGT Slabhttps://www.nccpl.com.pk/en/products-services/products-services-1/capital-gain-tax-cgt

* As per Sindh High Court Order C.P. No. 4199/2015 dated August 10, 2016, this date shall be 1st July 2013 instead of 1st July 2012.

CGT Computation Fee:

The NCCPL charges CGT Computation Fee according to the values of trades and transaction used for computation and determination of CGT with respect to different categories of Investors. For details, click on following NCCPL website:

http://www.nccpl.com.pk/files/product_and_services/clearing_settlement_services/30_3_2016_fee_charges_scheduled_secp_letter_dated_dec_29_2015.pdf

Q: what is custody charges?

Following are the details of custody charges and their calculations

 

Charges for CDC eligible securities is 0.03% per annum of market value of shares which is charged on the basis of number of days your shares are in your CDC Sub-account and it is debited on monthly basis.

 

Following is the calculation of Custody charge for CDC shares.

Calculation:

Rate charged: 0.03%
If you have share worth Rs.100, 000/-, the calculation will be as following
100,000 * 0.03% / 12 = Rs. 2.50 (per month)

Q: What is CGT ?

Government of Pakistan (“GOP”) had imposed Capital Gains Tax (“CGT”) on shares holder. CGT is a separate and independent tax, which has no connection with your other incomes like salary or other business. It is calculated based on the profit from dealing in shares.

The Capital Gains Tax collection and deduction is carried out by The National Clearing Company of Pakistan Limited (“NCCPL”), which has been declared a tax collecting agent under the amended law. The Calculation of CGT amount is based on the methodology used by NCCPL which is available on their website.

You can get all CGT related information at http://www.nccpl.com.pk/products-services/products-services-

Holding Period Tax Year 2016 Tax Year 2017
FilerNon-Filer
Tax Rate Tax Rate Tax Rate
Where holding of a security is less than 12 months 15% 15% 18%
Where holding period of a security is 12 months or more but less than 24 months 12.5% 12.5% 16%
Where holding period of a security is 24 months or more but the security was acquired on or after 1st July, 2012 * 7.5% 7.5% 11%
Where the security was acquired before 1st July, 2012 * - 0% 0%

As per Sindh High Court Order C.P. No. 4199/2015 dated August 10, 2016, this date shall be 1st July 2013 instead of 1st July 2012.

Q:What is corporate action of a listed company?

When a publicly-traded company issues a corporate action, it is initiating a process that will bring actual change to its stock. By understanding these different types of processes and their effects, an investor can have a clearer picture of what a corporate action indicates about a company's financial affairs and how that action will influence the company's share price and performance. This knowledge, in turn, will aid the investor in determining whether to buy or sell the stock in question.

 

Corporate actions are typically agreed upon by a company's board of directors and authorized by the shareholders for instance:-

Cash Dividend
Issuance of Bonus Shares
Rights Issue
Mergers and Acquisition etc

Companies also disclose dates of Book Closures subsequently

Q: From where I can find information about company’s payouts ?

We would highly suggest you to visit Pakistan stock Exchange website www.psx.com.pk for notices, announcements, Quotation and other valuable information which would helpful in making your investment decision.

Go to the PSX website, click on Market Information, then click on Quotations

Go to page no 36, Closure of Transfer Books, Distributions & Meetings.

BMA intimate its clients of any payouts by listed companies. An email and SMS has been sent out to those customers who have holding of shares in a company that has announced any payouts.

Q: What are right shares? And how can I subscribe them?

A company implementing a rights issue is offering additional or new shares to existing shareholders to finance their new expansion projects or to meet working capital needs. The existing shareholders are given the right to purchase or receive these shares in proportion to their respective shares holding.

There are two ways to handle the Right Shares:

Option-1: You may sell Right Shares in the market and received 100% gain without making any further payment to company against subscription of Right Shares.

Option-2: You may subscribe it by making payment to company against subscription of right shares.

 

There are two options for subscription of Letter of Rights:

Option-1: Subscribe it by yourself

If you want to subscribe the Letter of Rights by yourself, kindly request BMA for “RSR” Right Subscription Form. BMA will email you the Right Subscription Form at your registered email address, after which you will have to submit the RSR along with subscription amount with the designated bank branches.

Option-2: Subscribe through BMA

BMA provides facility to all its clients for subscription of Letter of Rights on their behalf. After receiving request from yourself, BMA will subscribe Letter or Rights by debiting the subscription amount from your trading account (subject to availability of required subscription amount in your account) and submit the RSR form along with subscription amount with the designated bank branches. Please note that this facility is only valid till three working days prior to last subscription date. For this action we would require your instructions through your registered email address with BMA.

Q: How can I calculate cash dividend issued on my shares?

Cash dividend is issued either on quarterly, bi-annually or yearly basis. When a dividend is declared and issued, the equity of a company is affected because the distributable equity (retained earnings and/or paid-in capital) is reduced. For each share owned, a certain amount of money is distributed to each shareholder. Thus, if an investor hold 100 shares of a stock and the cash dividend is 0.50 or 5% per share, the shareholder will receive Rs.50 in total.

 

Following is an example of Cash Dividend calculation:

Suppose a company announced 17.5% cash dividend

= Face Value x % of Dividend announced
= Rs. 10/- x 17.5%
=Rs. 1.75= Dividend Amount x No. Of Shares
= Rs.1.75 x 5000
= Rs. 8,750/-
 

Withholding tax (WHT) at the rate of 12.50% (Filer) is applicable on Cash dividend

= Dividend Amount – 12.50% Tax
= Rs. 7,656.25/- 

Withholding tax (WHT) at the rate of 20.00% (Non-Filer) is applicable on Cash dividend

= Dividend Amount – 20.00% Tax
= Rs. 7,000/-  

Zakat is also deducted in case if you have not provided Zakat Exemption Certificate for your account with BMA. Dividend is always calculated on face value. The calculation will be as follows;

= Face Value x 2.5% Zakat x No. of Shares
= Rs. 10 x 2.5% x 100
= Rs. 25/-  

Note:

As per amendment made in the income Tax Ordinance, 2001 under section 150 through Finance Act 2015 Government of Pakistan, Please find below the rate of Tax on dividend for Filer and Non Filer. The tax rate on Bonus shares is applicable for all shareholders. 

Rate of tax deduction for filer of income tax returns: 15%
Rate of tax deduction for non-filers of income tax returns:30.00%

Moreover, please note that the Registrar/Companies follow the “Active Tax Payer List” which is available at Federal Board of Revenue (“FBR”) website http://www.fbr.gov.pk/ActiveTaxpayersList.aspx

Q: What is the procedure if dividend is not received?

The concerned Registrar/Company is supposed to send payouts within 45 working days after the end date of Book Closure for the distribution of benefits subject to entitlement. The time duration may vary and is on the sole discretion of Company.

 

If you have not received the Dividend Warrant, then you need to contact the concerned Registrar/Company for inquiry. You will be required to provide your CDC Sub account number and BMA Capital Management’ Participant ID (01826) to the Registrar.

 

Further, you can obtain details of the concerned registrar from PSX website i.e. www.psx.com.pk > Listing & Companies > Address Book > Select Name of company > you will get the Name of Registrar of Company. After having Name of Registrar from above link you can have complete details of Registrar by clicking https://www.psx.com.pk/phps/cmp_registrar.php

Shares Transfer

Q: How can I transfer my shares from another brokerage to BMA trading account?

Procedure for Transfer of Shares from other Brokerage house (TREC Holder) to BMA Trade account

 

If you want to transfer securities from any other brokerage house to your BMA Trade account, then you need to write a letter to them (other brokerage house) with the following information and a copy to us for follow up.

 
Participant Name : : BMA Capital Management Limited
Participant ID :01826
Client Name :__________________________________
Client CDC sub A/C # : __________________________________
Client Trading A/C#__________________________________
Name of Shares : __________________________________
Quantity of Shares :__________________________________

Note:

 

As per the CDC circular dated September 22, 2008, in order to transfer securities from one account to another account, the account title and other credential must be same in CDC or any other brokerage house account.

Q: Can I transfer my shares from BMA to any other brokerage house?

Procedure for Transfer of Shares from BMA Capital Management to Other Brokerage House (TREC Holder)

 

In order to transfer securities from your BMA Trade account, you can send request through BMA Trade terminal, following is the procedure:

Log in your BMA Trade Terminal through BMA Trade User ID and password
Click on VIEWS Menu
Click on Transfer Custody
Input information on Symbol, Volume and CDC Investor Act.
Click on Submit button

Please note that your share transfer request is dependent upon CGT liability (if any) and minimum maintenance balance policy of Rs. 1,000/- cash in your account

Q: Can I transfer my securities from one BMA Account to another BMA account?

Procedure for Transfer of Shares from one BMA TRADE to another BMA TRADE account.

 

In order to transfer securities from your BMA Trade account to another BMA Trade account, you can send request through BMA Trade terminal, following is the procedure:

 

Log in your BMA Trade Terminal through BMA Trade User ID and password
Click on VIEWS Menu
Click on Transfer Custody
Input information on Symbol, Volume and CDC Investor Act.
Click on Submit button

Q: How can I transfer my shares/custody from CDC investor account to BMA trading account?

Procedure for Transfer of Shares from CDC Investor account to BMA Capital Management

If you wish to transfer your securities from your own CDC Investor Account to BMA Trade account, then you have to courier your CDC cheque from your transaction order book to CDC by yourself or you can also transfer through online CDC web access.

Please fill the detail information as mentioned below on the transaction order book of CDC

Participant Name : : BMA Capital Management Limited
Participant ID : : 01826
CDC-Sub Account No : : _______________ (Your CDC Sub Account no. with BMA Trade)

Q: How can I transfer my physical shares to BMA trading account? / How can I convert my physical shares to electronic from?

Procedure to transfer Physical shares to BMA Trade account

 

You can send physical shares along with VERIFIED TRANSFER DEED, Securities Deposit Form (Attached) duly filled with your name and signature, attested Valid CNIC Copies at our mailing address along with a covering letter mentioning your name with USERID/Account no., the details of shares, certificate no. along with Quantity.

Please make sure that the Buyer's portion of Transfer Deed should be blank, without signature.

“IF SHARES ARE NOT IN YOUR NAME”

If physical shares are not in your name, you need to transfer these physical shares in your name through concerned Registrar/ Company.

Once these physical shares are transferred in your name, and then you can forward us physical shares along with verified transfer deed, Securities Deposit Form duly filled with your name and signature, attested Valid CNIC Copies and a signed covering letter stating your account no. of BMA TRADE.

Please note that the verified transfer deed(s) must NOT be signed in BUYER(S) Portion and it should be completely filled along with witnesses' signature and attested CNIC copies of witnesses.

Upon receipt of these shares along with verified transfer deed, same will be forwarded to concerned Registrar/ Company for induction into CDC.

The transfer process takes 10-15 working days and is on the sole discretion of concerned Registrar/ company. After conversion these shares will be updated in your account.

Q: Where can I trade shares less then lot size? / what is ODL market?

Odd Lots are traded in separate ODD LOT market at Pakistan stock Exchange (“PSX”). You can place Odd Lot orders through BMA Trade Trading Terminal, BMA Trade Web Trading Terminal and Mobile App.

In Buy / Sell window, you would be required to select “ODL” in the “Market option” to place orders in ODD Lot market. The regular and Odd lot market timing are same. 

Please note that during the pre-open session the order size will be as follows;

Please note that signature(s) of Joint Account Holder(s) will also be required in case of Joint Account.

Previous day Closing Price of Scrip Minimum Order Size for Pre-Open
Scrip Price less than or equal to Rs. 100 : 500 shares
Scrip Price more than Rs. 100 or equal to Rs. 500100 shares
Scrip Price more than Rs. 500 or equal to Rs. 1000 50 shares
Above Rs. 100020 shares

Q: How much margin is available in future trading?

BMA Trade margin exposure limit is 4 times of Available Equity (cash + reduced custody value of shares). You can utilize margin up to 4 times while trading in “Deliverable Futures Contracts”.

Deliverable Futures Contracts are valid for one month, which starts from last Monday of a month and ends on last Friday of the next month. For instance, AUG Deliverable Futures Contract for year 2016 will be active from Monday 25 July, 2016 and will mature on Friday 26 AUG, 2016. The Deliverable Future Contract’s schedule is announced by Pakistan Stock Exchange.

The open positions are rolled over at each day-end at last 30 minutes weighted average rate. Commission charges and book profit/loss is posted in your Cash book on the basis of day closing, whereas your account gets adjusted with the fluctuation of shares.

You can keep on rolling over your positions until it get matured. You can take delivery of shares purchased in futures contract. For this purpose, there should be sufficient cash balance available in your account and you will have to inform us of your intention before expiry of deliverable future contracts. On the other hand, if you have sold the shares even before buying, which means short sell, which is allowed for future contracts, then you can give us delivery of the shares or you will have to buy from the market before the end of closing session on last trading day of the contract. The cash balance is adjusted on real time basis in your account according to price fluctuation of the open position.

 

“Margin”

Moreover, BMA Trade margin verification system checks the Exposure allowed of every trading account i.e. 4 times (25%) of Available equity (unblock cash + reduced custody value of shares) in your account. The unblocked cash has to be minimum 12.5%.

Note:

You can place buy/sale orders in Deliverable Futures Contract as you place orders in regular market. The only difference is symbol. Futures eligible securities are available with a suffix of initials of the month. For instance if August DeliNote:verable Futures Contract is active then the symbol of August Deliverable Futures Contract will be “PPL-AUG”

You can view the list of securities available at Deliverable Futures counter at PSX website http://www.psx.com.pk/under Market Information > Eligible Scrips

Q: what are roll ever charges on future trade?

 

Please note that all open positions of Futures market are settled on daily basis to adjust mark to market as per procedure of Pakistan stock Exchange (“PSX”), If you have open Futures positions at the end of any day in your account; your open position will be roll over with the weighted average price of last half hour to calculate profit and loss on Futures position.

Weekly Rollover charges for Futures transaction are same as for the trade of share in particular share range.

 

Q: How much time will it take to execute my order?

BMA Trade terminal facilitates you in providing real time fastest order execution. Under normal conditions, orders are placed and executed within two seconds; but it is important to understand that time to execute an order will vary and solely dependent upon market conditions, types of orders being placed, order size, internet connections etc.

In case of orders delays and execution, you are requested to notify us immediately by calling at our BMA Call Center 0092-21-111-262-872

 

Q: How can I rectify any trade executed in my account?

 

In case if you observe any trade during the day which you have not placed from your trading terminal /web terminal / Mobile App/ Call Center or through assigned Trader (Premium Account Only), you are requested to notify us immediately by calling at our BMA Call Center 0092-21-111-262-872 during market hours.

Your notified trade (s) executed in your account will be investigated and in case if the trade does not belongs to you, the erroneous trades which were inadvertently executed will be rectified through Trade Rectification process as per rules and regulation of PSX.