ISLAMABAD: Islamabad Stock Exchange (ISE) has signed a Memorandum of Understanding (MOU) with the Rawalpindi Chamber of Commerce and Industries to strengthening the trade and economic activities of the country.
The MOU has inked by Imtiaz Haider, managing Director and CEO, Islamabad Stock Exchange (ISE) and Syed Ali Raza Saeed Shah, President of the Rawalpindi chamber of Commerce and Industry, in ISE Towers in the presence of Directors and Members of the Exchange and Executive Committee of the Chamber.
The purpose of this MoU is to explore cooperation in the areas of common interest including improvement and facilitation of business, pursuing companies for listing at ISE, public awareness and enhancing due role for corporate social responsibility including business students development.
Imtaiz Haider, MD ISE, said on the occasion that our effort is to enhancing interactions and rationalization of the procedures and processes, by facilitation of services provided by both entities and represent collectively where possible, at different forums to achieve the commercial interest and work for the betterment of stakeholders in general and public in particular.
He said ISE considers it appropriate that businessman having entities should no more be focusing on the conventional modes of financing like banks that is not only costly but in case of non-servicing the consequential effects could be unbearable Instead businessman should raise capital through stock exchanges that is cheaper and convenient way meeting their needs for funds.
These entities can get themselves listed at OTC market with lesser regulatory and filling requirements giving more credibility as an entity. Having less capital requirements and addressing issues like transfer of shares, etc would be an added benefit for the owner.
The MOU provides for regular exchange of a variety of information including market information, trade publications, and existing laws and regulations, with a view to cooperation between two entities. It also intends to assist the commercial and economic ties between the two entities with the aim to establish and strengthen the business to business contacts.
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