Citibank, N.A., Bangladesh will formally launch its Direct Custody and Clearing (DCC) services in Bangladesh on Dec. 15.

This will enable Citibank to better support its global clients and channel more foreign portfolio investments into the emerging Bangladesh capital market, said a press release.

Faruq Ahmad Siddiqi, chairman of the Securities and Exchange Commission, will be the chief guest at the launch, to be attended by Citi’s clients and stakeholders including the regional senior executives of Citigroup in Asia Pacific.

Citigroup, which already launched its investment banking wing in Bangladesh to support the country’s growing capital market, has now put its global strength on the arena of capital market transaction services in this country.

Citi is now the only global bank in the country which is present at both these ends of Bangladesh capital market, the press statement said.

Citi’s Direct Custody and Clearing (DCC) business will enable the global investors to enjoy the bank’s seamless transaction services across the world.