- Becomes first JV stockbroker to receive trading rights at Dhaka Stock Exchange
Capital Alliance (CAL) has entered Bangladesh, becoming the first JV entity to receive the Trading Right Entitlement Certificate on the Dhaka Stock Exchange (DSE) from the Bangladesh Securities and Exchange Commission (BSEC).
CAL is Sri Lanka’s leading financial services institution offering integrated investment and capital market solutions and this becomes its first overseas foray. With the stockbroker license cementing its entry to Bangladesh, CAL continues the ambitious yet resolute journey to realise its vision to be ‘The No. 1 Investment Bank in Frontier Markets’.
CAL will hold a majority stake of CAL Securities. The company’s local shareholders include Raihan Shamsi – a leading corporate professional having led Grameenphone as its Deputy CEO and CFO, and Accenture as its CEO of Bangladesh and Managing Director for Communication, Media and Technology of the ASEAN region – and leading industrialist Salahuddin Ahmed, Managing Director of the M&J Group.
“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,” commented CAL Securities Bangladesh Chairman and CAL Sri Lanka Group CEO Ajith Fernando.
“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,” commented CAL Securities Bangladesh Managing Director and CAL Sri Lanka Managing Director – Global Markets and Investment Banking Deshan Pushparajah. “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 added.
CAL’s research product has been repeatedly recognised at CFA Sri Lanka’s annual Capital Market Awards for providing best-in-class insights and service to clients. Enjoying partnerships with market-leaders in frontier brokering – including Auerbach Grayson, EFG Hermes, StoneX, Maybank Kim Eng and Edelweiss, CAL is also one of the largest brokers of foreign institutional investors into Sri Lanka.
CAL first entered the Sri Lankan market in 2000 as a licensed primary dealer, rapidly evolving into one of only five non-bank licensed primary dealers in the country. The company has grown over the past two decades to become the market leader in capital markets services, offering a growing list of solutions including wealth management, equity and debt capital markets, mergers and acquisitions advisory, stockbrokering, fixed income trading and private equity. It has been lauded with the title of ‘Best Investment Banking Company in Sri Lanka’ among other accolades.