Capital Alliance enters Bangladesh | Sunday Observer

Capital Alliance enters Bangladesh

19 September, 2021

A joint venture (JV) company set up in Bangladesh by Sri Lanka’s Capital Alliance (CAL) recently became 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 a financial services institution offering integrated investment and capital market solutions and this becomes its first overseas foray.  

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.

Chairman of CAL Securities Bangladesh and Group CEO, CAL, Sri Lanka, Ajith Fernando said, “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.”

Managing Director of CAL Securities Bangladesh and Managing Director – Global Markets and Investment Banking at CAL, Sri Lanka, Deshan Pushparajah said, “Our focus on creating market-leading insights has been our key differentiator in Sri Lanka.”

“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 said.