Thu, 02 September 2010  21:19:50
Licensed
27 Jul, 2010 08:55:25
Sri Lanka licenses new Indian stockbroker
July 27, 2010 (LBO) – India Infoline (IIFL) became the latest stock brokering firm to enter the Colombo Stock Exchange (CSE), part of the group's strategy to spread its presence in the south Asia region, an official said.

"The SEC (Securities and Exchange Commission) granted IIFL license to operate in the Sri Lankan market," Priyani Ratna-Gopal, the head of IIFL's Sri Lankan unit said.

"We are bullish on the market's performance and have immediate funds available for investments from IIFL's own fund and investors who want enter the Sri Lankan market."

India Infoline was one of several new brokers that were provisionally approved.

The Sri Lankan economy is emerging from a 30-year civil which ended in May 2009.

Sri Lankan stocks rose 125 percent in 2009. This year stocks have risen another 40 percent and the CSE is the world's second best performing market, according Bloomberg newswires data.

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