The Securities and Exchange Commission allowed two more institutions to roll out full-fledged merchant banking operations in the stock market. On Wednesday, the SEC gave nod the two institutions -- IL Capital Limited and CAMP Advisory Ltd --to begin operations.

The new permits bring the number of merchant banks to 52. The responsibilities of a full-fledged merchant bank include underwriting, issue management, portfolio management and lending to stock investors.

The new merchant banks may boost liquidity flows into the market and ease entry of new exchange listings.In 2009, finance ministry asked the SEC to increase number merchant banks to 65. Official sources said, 20 more institutions are awaiting SEC approval for getting merchant banking licences.

The Independent/Bangladesh/ 6th April 2012