Refund Policy of Mika Securities
Effective Date: August 25, 2025
This Refund Policy governs the process for refunds of payments made to Mika Securities, a stock brokerage firm licensed to operate at the Dhaka Stock Exchange (DSE). This policy is designed to ensure a fair and transparent process for our clients regarding service-related charges.
1. Scope of Policy
This policy applies to fees and charges directly collected by Mika Securities for the provision of its brokerage and related services. It does not apply to market-related losses, government fees, or other charges over which Mika Securities has no control.
2. Eligible for Refund
A client may be eligible for a refund under the following circumstances:
- Duplicate Payment: A service fee (e.g., BO Account opening fee, annual maintenance fee) was paid more than once for the same service.
- Overpayment: An amount paid for a specific service exceeds the correct fee charged by Mika Securities.
- Incorrect Charge: A client’s account was charged for a service that was not requested or provided.
- Failed Service: A payment was made for a specific service that was not delivered by Mika Securities due to our operational failure.
3. Not Eligible for Refund
Refunds will not be issued for the following:
- Market Losses: Losses incurred from the buying and selling of securities. The value of investments fluctuates based on market conditions, and Mika Securities is not responsible for any such losses.
- Brokerage Commission: Brokerage fees charged on successfully executed trades are considered earned upon execution and are non-refundable.
- Statutory Fees and Taxes: Charges levied by regulatory bodies, such as the Bangladesh Securities and Exchange Commission (BSEC) and the Dhaka Stock Exchange (DSE), and any government taxes (e.g., tax on capital gains), which are passed on to the client, are non-refundable.
- Withdrawal from Trading: Funds within a client’s trading account that are part of the client’s investment capital are not considered a “refund” but rather a “withdrawal.” Such withdrawals are processed according to our standard fund withdrawal procedures, subject to all legal and regulatory requirements.
4. Refund Request Procedure
To request a refund, clients must follow these steps:
- Submit a Written Request: The client must send a formal written request to Mika Securities via email or postal mail. The request must be addressed to the Client Services Department.
- Provide Necessary Information: The request must include:
- Client’s Name and BO Account Number.
- Transaction details, including the date of payment, amount, and method of payment.
- Reason for the refund request and relevant supporting documentation (e.g., payment receipt, account statement).
- Review and Verification: Upon receiving the request, Mika Securities will review the claim and verify the details provided. This process may take up to 10 business days.
- Notification: The client will be notified of the decision to approve or deny the refund request via email.
5. Refund Processing
If a refund request is approved, the refund will be processed and disbursed in one of the following ways:
- Credit to Trading Account: The refund amount will be credited directly to the client’s trading account with Mika Securities.
- Bank Transfer: The refund will be transferred to the bank account linked to the client’s BO account.
The refund will be processed within 7-10 working days from the date of approval.
6. Contact Information
For any queries regarding this policy or to submit a refund request, please contact:
Client Services Department Mika Securities Simpletree Lighthouse (9th Floor), 53 Kemal Ataturk Avenue, Banani, Dhaka 1213, Bangladesh Email: info@mikasecurities.net Phone: +8801730062188
Mika Securities reserves the right to amend or update this policy at any time without prior notice. The latest version of the policy will be available on our official website.