Prime Bank Investment launches 4 schemes to facilitate investors

Prime Bank Investment Ltd, a merchant bank, has launched four discretionary product segments – Shariah, women, probashi, and youth – aimed at capital market investment, providing tailored options for diverse investor segments within the "PrimeInvest-discretionary product suite".

The launch ceremony for the four products took place on 18 February at The Westin Dhaka.

Professor Dr Shaikh Shamsuddin Ahmed, commissioner of the Bangladesh Securities and Exchange Commission (BSEC), attended the event as the chief guest. 

Among others, the event was attended by Tanjil Chowdhury, chairman of Prime Bank, Azam J Chowdhury, director of Prime Bank, and CQK Mustaq Ahmed, chairman of Prime Bank Investment and other officials.

Praising these initiatives, Azam J Chowdhury said, "Prime Bank Investment has introduced some commendable products to the market.

"These products will have a positive impact on the capital market and will encourage participation from investors."

Azam Chowdhury, also the chairman of East Coast Group, emphasised introducing quality stocks to the market, noting that many reputable companies are eager to participate but face several obstacles.

He said facilitating the entry of such companies into the market will increase investor interest. 

As such, he urged the regulatory body to streamline and simplify the listing process to encourage the proliferation of quality shares in the market.

Shaikh Shamsuddin Ahmed applauded PrimeInvest's four new products in terms of investment in the capital market.

He said various Shariah-based products have been introduced, including Sukuk bonds. As these products begin to emerge, the commission is actively promoting their advancement.

He also emphasised the significant contributions of the banking sector despite concerns about non-performing loans, stressing the need to explore additional sources. 

Syed M Omar Tayub, managing director, and CEO of Prime Bank Investment said, "Our mission is to empower investors from all segments of society by offering diverse investment options.

"Despite the higher long-term return potential, tax rebates, and zero tax on capital gains, the number of investors in the capital market remains significantly lower than those of bank accounts, mobile financial services accounts," he added.

He further said, "Our comprehensive discretionary product segments will bridge this gap by catering to the evolving needs of investors in different segments such as Shariah, probashi, women, and youth in Bangladesh."

CQK Mustaq Ahmed stated, "We comprise highly competent and professional individuals with high levels of integrity and moral standards. It is a well-managed and compliant investment bank where potential investors can confidently place their investible funds."

According to the company's press release, PrimeInvest Shariah introduces a suite of shariah-compliant capital market investment solutions tailored for the broader Muslim community, under the supervision of a dedicated shariah board. Investors can invest a minimum of Tk3 lakh for a duration of 3, 5, and 7 years.

The PrimeInvest Probashi is a unique initiative offering investment opportunities for individuals living abroad. Investors can invest a minimum of Tk1 lakh for a duration of 3, 5, and 7 years.

Besides, the PrimeInvest Women is committed to empowering women in finance, encouraging their active engagement in the capital market. Investors can invest a minimum of Tk2 lakh for a duration of 3, 5, and 7 years.

Lastly, the PrimeInvest Youth is a specially crafted investment scheme designed to empower youths aged between 18-25 years. Young earners can invest a minimum of Tk500 monthly for three years and above.