Kathmandu, September 22:

Civil Group, promoter of Civil Savings and Credit Cooperatives Ltd and Civil Homes, has launched its second financial institute, the Civil Merchant Bittiya Sanstha Ltd (CMBSL). Ichchha Raj Tamang, chairman of Civil Group, inaugurated the company at a function today at Kuleshwor, Kathmandu. He said that CMBSL has proved the strength of the group and added, “We believe success is a journey, not a destination.” According to Jayandra Lal Shrestha, chief executive officer, CMBSL has been established under the Company Act-2053 and the Financial Institution Ordinance-2062. He stated that the institution is managed by well-experienced and highly professional staff. “Excellent financial services would definitely help in national development.” It offers various products including regular financial services like deposit and saving sch-emes, corporate finance and capital market.