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CMA grants bank nod to operate

Zachary Ochuodho @zachuodho

Salaam Investment Bank Kenya Limited has been granted the licence by the Capital Market Authority (CMA) to operate as an investment bank under the Capital Markets Act and Regulations.

The licensing will enable the Salaam to offer its client’s portfolio management including wealth management services and explore Shariah-compliant products and services.

The intermediary will be able to undertake investment advisory on corporate restructuring for example takeovers, mergers, acquisitions, privatisation and corporate financing for example issuance of equity and debt securities.

It will also enable it to underwrite securities issued or to be issued to the public, and engage in the business of a stockbroker or dealer. The newly-licensed Investment Bank’s parent company is Salaam African Bank, based in Djibouti and regulated by the Central Bank of Djibouti.

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