Jamuna Bank to set up asset management company

Jamuna Bank PLC is going to establish an asset management company. 

In a filing on the Dhaka Stock Exchange today, the private commercial lender said the board of directors in principle agreed to set up a fully owned subsidiary for the asset management company.

The plan is subject to approval from the shareholders of the company and regulators. 

Asset management companies invest pooled funds from clients into various securities and assets.