The Dhaka Stock Exchange (DSE), the Pakistan Stock Exchange (PSX) and the Colombo Stock Exchange (CSE) have signed a tripartite memorandum of understanding (MOU) to improve cooperation between the three horns.
The agreement, signed on Thursday in Colombo, aims to facilitate the development and exchange of technology, the collaboration of human resources, the development of products, the regulatory coordination, the protection of investors and exchange of knowledge in the markets, according to a press release issued yesterday by the DSE.
The firm ceremony was attended by the president of DSE, Mominul Islam, the president of CSE, Dilshan Wirasekara, and the Pakistan Stock Exchange and Securities Commission (SECP), AKIF SAEED, together with directors and senior officials of the respective institutions.
“Through the exchange of mutual experience and joint investments in technology, our stock exchanges can play an effective role in the development of strong and efficient capital markets in their respective countries,” he added.
As part of the event, the president of DSE participated in a discussion panel entitled “Browse in the Border Capital Markets: how the regulation and enhancement of the market encourage the efficient development of the capital market.”
The DSE representatives also held separate meetings with the president and commissioners of the Pakistan Exchange and Securities Commission, senior PSX executives and CSE officials.
The president of DSE, Mominul Islam, said: “The stock exchanges in southern Asia, with the exception of India, face technological and operational limitations due to their relatively small size. These limitations prevent markets with immense potential to reach their full capacity.”
Originally published in The Daily Star, an Ann partner of Dawn.
