Citi clears Bangladesh

Citi will provide direct custody and clearing services in Bangladesh.

Citi Global Transaction Services has launched direct custody and clearing services in Bangladesh. As part of these services, the bank will perform equity and fixed-income securities settlements, safekeeping, pre-matching, registration, corporate actions, income collection, cash management, and foreign exchange.

Citi is already on the ground in Dhaka, where its operation is run by Mamun Rashid, and it acts as a full-service bank and correspondent banking service provider.

The Bangladesh equities market has been very vibrant for a number of years...

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