Mutual Trust Bank (MTB) Securities Ltd launched brokerage operations in Dhaka yesterday.
The brokerage firm began as a subsidiary of the bank, as per regulatory requirements.
The financial institutions, including banks, that have brokerage and merchant banking divisions, will have to form a subsidiary company to run the stock business within November 30, according to regulations.
So far, four banks, including MTB, have launched subsidiary companies for the purpose, while the rest are in the process.
Syed Manzur Elahi, founder chairman of MTB, formally launched operations at a function. MTB Managing Director Anis A Khan, Dhaka Stock Exchange President Md Shakil Rizvi and Chittagong Stock Exchange President Fakhor Uddin Ali Ahmed were also present.
On the current bullish trend in the stockmarket, Elahi said there is hardly any possibility of a situation similar to 1996.
In 1996, the Bangladesh stockmarket bubbled and later burst.