Mutual funds: Pakistan and India to cooperate

MUMBAI: In what promises to be a landmark first step, mutual fund industries of India and Pakistan have agreed to explore possibility of promoting each other as investible asset classes in the two countries.

This unanimity of views was arrived at after a group of top officials from Pakistan’s capital market met with top office bearers of Association of Mutual Funds in India (AMFI), Indian TNN wire service reported. The group from Pakistan was led by Securities and Exchange Commission of Pakistan (SECP) Commissioner securities market division, Imtiaz Haider. He said he was encouraged to witness the spirit of cooperation between both markets, which underscores the need for expanding them beyond borders.

This was the first time that leaders from Pakistan’s capital market were directly engaging with their counterparts in India, with objectives “to create common linkages between two markets and also to build on spirit of peace and harmony in South Asia.”

Published in The Express Tribune, December 14^th, 2011.