Citi Global Markets gets licence

Faruq Ahmad Siddiqi, chairman of the Securities and Exchange Commission, formally hands over Citigroup Global Markets Bangladesh's full-fledged merchant banking licence to Mamun Rashid, Citigroup country officer for Bangladesh, at a function in Dhaka yesterday. Photo: Citigroup

Citigroup Global Markets Bangladesh Private Limited, the first-ever Bangladesh incorporated entity of Citi, the world's largest financial institution, was formally awarded its full-fledged merchant banking licence yesterday, says a press release.
Faruq Ahmad Siddiqi, chairman of the Securities and Exchange Commission, handed over the licence to Mamun Rashid, Citigroup country officer for Bangladesh, at the SEC boardroom.
The SEC chairman welcomed Citigroup to Bangladesh's capital markets and hoped that Citi would be able to help the market get rid of supply side constraints in the local bourses, by attracting good companies to offload their shares and migrate best practices from more matured markets.
Mamun Rashid thanked SEC officials for granting the licence.
Present at the function were three SEC members -- Saleh Ahmed Chowdhury, Mohammad Ali Khan and Mansur Alam. Ruksana Chowdhury, executive director, Registration & Licensing, was also present.
Besides, Abrar Anwar, director and head of Global Commercial Bank, Citibank, NA Bangladesh, and Silmat Chisti, newly appointed head of Citigroup Global Markets Bangladesh Private Limited, were present.