Citi Global Markets gets merchant banking licence
Tuesday, 18 September 2007
FE Report
Citigroup Global Markets Bangladesh Private Ltd, the first-ever Bangladesh incorporated entity of Citi, the world's largest financial institution, was formally awarded a full-fledged merchant banking licence Sunday, said a press release.
Chairman of the Securities and Exchange Commission (SEC), Bangladesh Faruq Ahmad Siddiqi handed over the licence to Citigroup Country Officer for Bangladesh Mamun Rashid at the SEC boardroom in the city Sunday.
The SEC chairman, in his brief speech, welcomed Citigroup, a leading financial services company and capital market operator in the world, to the capital market of Bangladesh.
He expressed the hope that Citi would be able to help the country's capital market get rid of supply-related constraints in local bourses by attracting good companies to offload their shares and transfer best practices from more mature markets.
Mamun Rashid, on behalf of Citigroup and his colleagues, thanked the SEC officials for granting the licence and gave them the assurance of bringing in the best for the country's capital market.
Among others, SEC members Saleh Ahmed Chowdhury, Mohammad Ali Khan and Mansur Alam and Executive Director, (Registration and Licensing) Ruksana Chowdhury and other senior officials from both the organisations were present on the occasion.
Citigroup Global Markets Bangladesh Private Ltd, the first-ever Bangladesh incorporated entity of Citi, the world's largest financial institution, was formally awarded a full-fledged merchant banking licence Sunday, said a press release.
Chairman of the Securities and Exchange Commission (SEC), Bangladesh Faruq Ahmad Siddiqi handed over the licence to Citigroup Country Officer for Bangladesh Mamun Rashid at the SEC boardroom in the city Sunday.
The SEC chairman, in his brief speech, welcomed Citigroup, a leading financial services company and capital market operator in the world, to the capital market of Bangladesh.
He expressed the hope that Citi would be able to help the country's capital market get rid of supply-related constraints in local bourses by attracting good companies to offload their shares and transfer best practices from more mature markets.
Mamun Rashid, on behalf of Citigroup and his colleagues, thanked the SEC officials for granting the licence and gave them the assurance of bringing in the best for the country's capital market.
Among others, SEC members Saleh Ahmed Chowdhury, Mohammad Ali Khan and Mansur Alam and Executive Director, (Registration and Licensing) Ruksana Chowdhury and other senior officials from both the organisations were present on the occasion.