Rand Merchant Bank has received approval for its commercial paper programme from the FMDQ OTC Exchange.
A statement issued by the exchange, the CP Programme registration will strategically position Rand Merchant Bank to easily and quickly raise short-term finance from the debt market at a time in the future it determines suitable, through CP issues, within the CP Programme limit.
The FMDQ said the approval is line with its strategic objectives to support institutional growth and stimulate the continuous development of the economy at large, FMDQ has shown its steadfastness in realising these objectives through the promotion of product innovation and the championing of key market development initiatives, in order to ensure that opportunities abound for the markets under its purview.
