NIBL Capital Markets, a subsidiary of Nepal Investment Bank, has received a depository membership license from CDS and Clearing to start services as a depository participant. NIBL Capital, a licensed merchant banker from the Securities Board of Nepal (Sebon), aims to provide depository participant services to investors through the branch network of its parent company Nepal Investment Bank.
A depository participant is an intermediary that maintains electronic accounts of securities on behalf of investors and provides services such as transfer and sale of securities. NIBL Capital Markets will work closely with CDS and Clearing to dematerialize and convert the current stock of paper shares held by Nepali investors into electronic format. Currently, NIBL Capital renders a comprehensive and a wide range of financial solutions ranging from issue and sales management, securities underwriting and share registration to portfolio management services. Furthermore, NIBL Capital has applied for a mutual fund license.
Posted on: 2012-11-26 09:37