Emerging Markets
The company has been directly involved in the securities market and infrastructural development in the following countries:


  • Albania
  • Estonia
  • Hungary
  • Kuwait
  • Latvia
  • Mauritius
  • Nigeria
  • Russia
  • Tunisia
  • Uzbekistan
  • Vietnam


The company works with those who create financial markets, regulate them, manage them and operate in them.


International development projects have been undertaken in association with USAID, The World Bank, IFC and Asian Development Bank




Your gateway to the securities markets of the CIS, Central & Eastern Europe & Sub-Sahara Africa


Involvement in these countries has covered areas of

  • Clearance & Settlement
  • Creation of centralised depositories and stock exchanges
  • Local business creation
  • Legal and regulatory review and advice
  • Marketing
  • Training
  • Investment funds
  • Establishment of internationally recognise custody operations


HBL Consultancy Serives - Emerging Markets

Primary legislation

HBL Consultancy Services - emerging markets

Advice to government bodies and agencies in developing securities market and infrastructure legislation


HBL Consultancy Services - emerging markets

Assisting in developing the regulatory framework enhancing primary legislation through direct operational involvement

Regulatory Bodies

HBL Consultancy Services - emerging markets

Advice & assistance to Securities Exchange Commissions including self-regulatory organisations aimed at optimising their organisation structure and operation procedures.