Global IME Bank to implement ASBA system

Published On: January 16, 2017 08:20 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU,Jan 17: Global IME Bank has said that it has got license from Securities Board of Nepal to introduce Application Supported by Blocked Amount (ASBA) system.

a statement, the bank said that it will hold the amount of applicants in their bank accounts until the allotment of shares.

The bank will block the applicant’s money equal to the subscription in their bank account and the money of the applicant for any issue is debited from their bank account only after the applicant is selected in the allotment, the statement.

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