ISLAMABAD, Mar 27 (APP):In a landmark move to strengthen regional capital market cooperation, the Pakistan Stock Exchange (PSX) has entered into a tripartite Memorandum of Understanding (MoU) with the Colombo Stock Exchange (CSE) and the Dhaka Stock Exchange (DSE) to establish an exchange forum.
The agreement, signed in Colombo, according to press release received here Thursday from PSX , adding that the exchange forum would facilitate technology development and sharing, human resource sharing, product development, regulatory collaboration, investor protection, and knowledge exchange, fostering a continuing relationship across the three markets.
The signing ceremony was attended by senior leadership from all three exchanges, including Farrukh H. Sabzwari, Managing Director & CEO of the Pakistan Stock Exchange; Rajeeva Bandaranaike, CEO of Colombo Stock Exchange; and Momin Ul Islam, Chairman Board of Directors Dhaka Stock Exchange PLC (DSE).
Also present at the ceremony was Akif Saeed, Chairman of the Securities and Exchange Commission of Pakistan (SECP)along with other senior officials, the statement added.
the MoU aims to execute joint initiatives in system development and digital transformation; cross-exchange training programs and knowledge-sharing initiatives; build collaborative development of new financial instruments; and harmonize market oversight and investor protection frameworks.
The MoU would also aims at exploration of cross-border listing opportunities to expand investor access; facilitation of broker partnerships and institutional connectivity.
Speaking at the ceremony, Mr. Akif Saeed remarked: “This strategic partnership marks a significant step forward in regional market integration. By combining our strengths, these three exchanges can drive innovation, enhance market resilience, and create new opportunities for investors across South Asia.”
Speaking on the occasion, Farrukh H. Sabzwari said the agreement represents a transformative chapter in regional capital market cooperation.
“Through this partnership with our counterparts in Colombo and Dhaka, we aim to elevate market standards, foster sustainable growth, and deliver greater value to all market participants,” he said.
The MoU establishes a formal platform for ongoing dialogue and joint initiatives, with working groups to be formed to implement the cooperation framework.
This alliance is expected to enhance market liquidity and product diversity; strengthen regulatory frameworks across the region; facilitate cross-border investment flows and promote technological innovation in market infrastructure.
This initiative will foster deeper regional cooperation among the three South Asian nations while creating new opportunities for investors and market participants across the region, the statement added.