Sri Lanka’s Capital Alliance receives Trading Right Entitlement Certificate at Dhaka Stock Exchange
Sri Lanka’s Capital Alliance (CAL) through its entry to Bangladesh has become the first joint venture (JV) entity to receive the Trading Right Entitlement Certificate at the Dhaka Stock Exchange (DSE) from the Bangladesh Securities and Exchange Commission (BSEC).
CAL is one of Sri Lanka’s leading financial services institutions offering integrated investment and capital market solutions and this becomes its first overseas foray.
CAL is working towards achieving the Company’s vision to be ‘The No. 1 Investment Bank in Frontier Markets.’
“We are delighted to receive formal trading rights to the Dhaka Stock Exchange and are thankful to the Bangladesh Securities and Exchange Commission and the Dhaka Stock Exchange for their support,” CAL Securities Bangladesh Chairman and CAL Sri Lanka Group CEO Ajith Fernando has been quoted as saying in the local media.
“Sri Lanka and Bangladesh – both classified as frontier markets – bear many similarities in how capital markets operate. With our deep experience in Sri Lanka and our insatiable appetite for learning and growth, we are confident that we can extend our unique approach towards markets to investors in Bangladesh as well.”
“Our focus on creating market-leading insights has been our key differentiator in Sri Lanka,” CAL Securities Bangladesh Managing Director and CAL Sri Lanka Managing Director – Global Markets and Investment Banking Deshan Pushparajah has been quoted as saying, adding, “We are excited to bring these unique perspectives and approach to research to Bangladesh as well.”
“Bangladesh is expected to become South Asia’s fastest growing economy over the next decade. Having built a worldwide network of foreign institutional investors who invest in frontier markets, we are confident of attracting further institutional investment into this country of great opportunity,” he has further noted.
The expansion of Sri Lankan companies in foreign countries is indicative of the strength and growth of Sri Lanka’s private sector. In fact, many Sri Lankan businesses have recorded a positive growth even amidst the Covid 19 pandemic and challenges posed by it. Sri Lanka’s geographical positioning in the Indian Ocean, the many trade agreements and concessions as well as the continuously improving ease of doing business environment in the country have helped boost Sri Lanka’s economy. It is in this backdrop that Sri Lanka is working towards achieving the target of becoming an emerging business destination in the South Asian region. Given the ongoing developments in Sri Lanka, foreign businesses/investors could explore the growing opportunities in the island.
|Article Code :||VBS/AT/22092021/Z_4|