SCBNL gets Sebon nod to start ASBA service

Published On: February 20, 2017 11:26 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Feb 20: Standard Chartered Bank Ltd Nepal (SCBNL) has received approval for providing Application Supported by Blocked Amount (ASBA) service from the Securities and Exchange Board of Nepal (Sebon).

Issuing a statement, the bank said that now the account holders of Standard Chartered Bank Nepal Ltd can participate in Initial Public Offering (IPO), Further Public Offering (FPO) and right share issues from their bank account held with the bank.

The newly introduced system ensures that the applicant’s funds remain in his/her bank account till the shares are allotted, reads the statement issued by the bank.

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