Prime Bank Investment, New Asia partner to expand investment access

Prime Bank Investment PLC (PBIL), a leading investment bank and a wholly owned subsidiary of Prime Bank PLC, has signed a memorandum of understanding (MoU) with New Asia Group, a textile and apparel manufacturing company, to provide its employees with investment, wealth management and capital market solutions.

Reza Masud Al Huda, head of portfolio management at PBIL, and Muhammad Zakir Hossain, senior chief financial officer of the company, signed the MoU at the latter’s headquarters in Dhaka recently, according to a press release.

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Under the MoU, employees of New Asia Group will have access to professional investment, wealth management and capital market solutions. The group will also benefit from PBIL’s investment banking services, including equity and capital raising, mergers and acquisitions, and other corporate advisory services.

“The agreement shall bridge the gap between accessible tax-rebateable investment opportunities for our employees,” said Buddha Deb Karmakor, chief financial officer of Knit Asia Ltd, a concern of New Asia Group.

With more than 16 years of investment banking experience in Bangladesh, PBIL provides portfolio management, trustee and corporate advisory services.

Through Prime Invest, its discretionary portfolio management service, PBIL aims to create sustainable and accessible investment opportunities for individuals seeking to explore new avenues for wealth creation. With guidance from PBIL, New Asia Group aims to enhance financial and wealth management literacy among its employees and create a more structured pathway for them to access investment opportunities in the capital market.