An entity holding an investment banking licence may conduct the activities of an investment dealer (full service dealer, including underwriting), investment adviser (unrestricted), investment adviser (corporate finance advisory), asset management, distribution of financial services, and such other activities as may be specified in rules issued by the Financial Services Commission.

The Financial Services Commission , before granting a license to any Non-Banking Financial Institution, ensures strict adherence to ‘fit and proper’ criteria and compliance with specific prudential requirements and operational conditions. Applicants must adhere to robust corporate governance rules, implement measures to prevent conflicts of interest, and combat financial crimes and money laundering.

The Financial Services Commission oversees the implementation of compliance functions, robust internal control measures, continuous internal audit and monitoring systems, and ensures the availability of qualified personnel and adequate equipment to support these measures.