Good news for share investors !Soon it will be possible for them to apply for the primary issue from their own homes.
"The days of long queues to apply for primary issues will soon be a thing of past," said Upendra Poudyal, CEO of NMB Bank Ltd, launching his bank's online share application service -- NMB e-Solutions: NMB online share application -- here today.
NMB Bank has come up with the first step in the online share application system. "An investor can now file profile online and need not fill up any applications," he said adding that it will also help save investors time and energy everytime a primary issue is floated.
However, for the time being as Securities Board of Nepal (Sebon) has not brought an online share application regulation one has to follow some procedure manually as usual, such as registration.
"Once an investor files his/her profile online, he/she will get a slip with ID code -- easily printable -- and can register at the privileged counters with mandatory documents like photos and xerox copies of citizenship certificate and pay the amount equal to the number of shares sought," CEO Poudyal added.
However, it will definitely take some time to go to complete electronic application system for shares. "Some changes in the regulatory framework of the Securities Regulation and greater awareness among investors could help go for complete electronic system of application for shares in the future," he said, "NMB Bank will improve the service gradually and go completely electronic," Poudyal assured. "While it is our initiative to start online share application, I feel other issue managers will also follow suit to make the share application process easier."
"The days of long queues to apply for primary issues will soon be a thing of past," said Upendra Poudyal, CEO of NMB Bank Ltd, launching his bank's online share application service -- NMB e-Solutions: NMB online share application -- here today.
NMB Bank has come up with the first step in the online share application system. "An investor can now file profile online and need not fill up any applications," he said adding that it will also help save investors time and energy everytime a primary issue is floated.
However, for the time being as Securities Board of Nepal (Sebon) has not brought an online share application regulation one has to follow some procedure manually as usual, such as registration.
"Once an investor files his/her profile online, he/she will get a slip with ID code -- easily printable -- and can register at the privileged counters with mandatory documents like photos and xerox copies of citizenship certificate and pay the amount equal to the number of shares sought," CEO Poudyal added.
However, it will definitely take some time to go to complete electronic application system for shares. "Some changes in the regulatory framework of the Securities Regulation and greater awareness among investors could help go for complete electronic system of application for shares in the future," he said, "NMB Bank will improve the service gradually and go completely electronic," Poudyal assured. "While it is our initiative to start online share application, I feel other issue managers will also follow suit to make the share application process easier."
The Nepali capital market has seen tremendous growth in the last one decade. The sole secondary market has been automated and the number of investors at present is estimated at around 1.5 million. If the complete ectronic share application is implemented by the Sebon, the investors will benefit more and fake applications could be checked.
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