SEBON Boss Hamal Hands Over Broker Licenses to Eleven More Companies

SEBON Chairman Ramesh Kumar Hamal (sixth from left) hands over broker licences to eleven more companies on Wednesday.

The Securities Board of Nepal (SEBON) Chairman Ramesh Kumar Hamal handed over broker licences to eleven more companies.

On Wednesday, Chairman Hamal, in the midst of a meeting at SEBON's office in Lalitpur, bestowed brokerage licenses to representatives from the companies that have recently been granted broker licenses.

Among the eleven companies, nine can work as limited securities broker service while Mega Stock Markets Limited can extend its services as a full operating securities broker. Additionally, Nabil Securities Limited, the lone applicant for a broker company with a dealer’s license, had its application approved.

This is the first time in the history of the capital market that even banks have received approval to extend their services as brokerage houses.

With the new development, a total of 18 companies have received final approval for brokerage license in two phases. In the first phase, seven companies had received approval and were provided licenses from Chairman Hamal after completing infrastructural requirements.

READ MORE: SEBON Chairman Hamal Hands Over Broker Licenses to Seven Companies; New Era in Stock Market Commences

In the first phase, Bhole Ganesh Securities Limited, Capital Max Securities Limited, Himalayan Brokerage Company Limited, Sun Securities Private Limited, Miyo Securities Private Limited, Sharepro Securities Private Limited and Property Wizard Limited had received licenses under the limited broker category. 

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See list of companies which attained licenses in the second phase after completing infrastructural prerequisite: