BISL starts journey as BDBL\\\'s subsidiary co

BDBL Investment Services Limited (BISL) has started its operation as a subsidiary company of the Bangladesh Development Bank Limited (BDBL) to comply with the rules set by the securities regulator, officials said.

The officials said the BISL earlier got the licence of broker and dealer and continued operation without forming separate subsidiary company.

 "As per the securities rules, a brokerage firm will have to be a subsidiary. That's why we have completed the formation of subsidiary company to run the operation of the capital market," said a senior official of the BISL.

The BISL held Wednesday its first board meeting as a subsidiary company.

Kazi Murshed Hossain Kamal chaired the Wednesday's board meeting attended by the directors--Md. Khalilur Rahman Siddiqi, Dr. Mahmuda Akter, Prof Mohammad Abu Taleb, Dr. Md. Nur Ali and Dr. Md. Zillur Rahman.

At the meeting, the BISL chairman Mr. Murshed spoke on the background of the company's formation.

He also expressed the optimism that the BISL would try to be one of the top brokerage firms along with playing a supportive role for the capital market.