BASIS, PBIL sign deal for facilitating access to capital market for ICT sector

Business Desk :
In a pioneering collaboration, the Bangladesh Association of Software and Information Services (BASIS) and Prime Bank Investment Limited (PBIL), have joined forces to catalyze access to the capital market for ICT sector of Bangladesh.
This trailblazing initiative, unveiled recently at the BASIS premises, marks a pivotal moment as both organizations commit to trend-setting initiatives aimed at facilitating ‘Access to Capital Market’ for BASIS members. The Memorandum of Understanding (MoU), exchanged in the presence of Russell T. Ahmed, President, Hashim Ahmed, Secretary of BASIS, Syed M Omar Tayub, Managing Director & CEO, and Khandoker Raihan Ali, Chief Operating Officer of PBIL, signed the deal respectively.
Prime Bank Investment Limited (PBIL), a fully-fledged investment bank and a subsidiary of Prime Bank PLC, is set to provide bespoke advisory services to BASIS member companies under this groundbreaking agreement. As a front runner in the investment banking landscape, PBIL will extend its expertise in Fund-Raising through Equity and Debt Capital, Corporate Advisory, and Portfolio Management services for stock market investment. Syed M Omar Tayub, Managing Director & CEO of Prime Bank Investment Limited, said, “This is part of our broader initiative of Industry Alliance through which we aim to cater to more industry verticals. In this innovative pursuit, PBIL is honored to start with BASIS as the IT sector possess immense possibilities in the era of digital transformation. The sector’s contribution to market capitalization is only around 1% in Bangladesh, which is 11% in neighboring India.