Subsidiary Companies of Commercial Banks to Get Broker License within a Week

Jul 28, 2019 05:10 PM Merolagani

Following the direction of Securities Board of Nepal (SEBON), Nepal Stock Exchange (NEPSE) has fastened the process of recommending broker license to commercial banks. SEBON directed NEPSE to recommend broker license on the basis of criteria set on January 2.

According to NEPSE, the regulatory body will soon recommend a broker license based on the previously set criteria. 'We will recommend broker license to three subsidiary companies of commercial banks in two/three days,' NEPSE informed.

NIA Asia Securities, a subsidiary company of NIC Asia Bank, Sanima Securities, a subsidiary company of Sanima Bank and Prabhu Stock Market, a subsidiary company of Prabhu Bank are seeking NEPSE approval for broker license after fulfilling all required procedures.

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