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Machhapuchre Bank

Global IME Bank implement ASBA service

image013Global IME Bank has said that it has obtained an approval for ASBA (Applications Supported by Blocked Amount) from Securities Board of Nepal (SEBON). The board provided the approval to the bank to collect application forms for initial public offering (IPO) and further public offering (FPO) and carry out various other tasks related with it. The bank informed that it joined the ASBA System for the convenience of the customers.
The bank said that it will hold the amount of applicants in their bank accounts until the allotment of shares.
The bank will block the applicant’s money equal to the subscription in their bank account and the money of the applicant for any issue is debited from their bank account only after the applicant is selected in the allotment, the statement.

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