NMB Capital gets mutual fund license

KATHMANDU, Sept 2: The Securities Board of Nepal (Sebon) -- the stock market regulator -- has licensed NMB Bank to operate mutual fund. NMB Capital, a subsidiary of NMB Bank, has also applied at Sebon for permission to work as fund manager and depository for the mutual fund. Issuing a press statement, NMB Bank said it plans to come up with investment scheme in the capital market collecting Rs 500 million-Rs 1 billion from small and big individuals as well as institutional investors in the current fiscal year.

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