In a move to strengthen regional capital market cooperation, the Pakistan Stock Exchange (PSX) entered into a tripartite Memorandum of Understanding (MoU) with the Colombo Stock Exchange (CSE) and the Dhaka Stock Exchange (DSE) on Thursday.
As per a statement, the agreement, signed today in Colombo, aims to establish an exchange forum to 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.
“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.
Under the MoU, the key areas of cooperation include: technology advancement, human capital development, product innovation, regulatory best practices, dual listings and commercial linkages.
The MoU establishes a formal platform for ongoing dialogue and joint initiatives, with working groups to be formed to implement the cooperation framework.
As per the statement, 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.
The signing ceremony was attended by senior leadership from all three exchanges, including. Farrukh H. Sabzwari, Managing Director & CEO of the PSX; Rajeeva Bandaranaike, CEO of CSE and Momin Ul Islam, Chairman of Board of Directors DSE.
Also present at the ceremony was Akif Saeed, Chairman of the Securities and Exchange Commission of Pakistan (SECP) along with other senior officials.
Speaking at the ceremony, Akif Saeed stated: “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.”
Meanwhile, Farrukh H. Sabzwari added: “This 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.”
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