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 and the Dhaka Stock Exchange.
The agreement, signed on Thursday in Sri Lanka, aims to establish an exchange forum to facilitate technology development and sharing, human resources 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 PSX; Rajeeva Bandaranaike, CEO of Colombo Stock Exchange and Mominul Islam, Chairman Board of Directors Dhaka Stock Exchange.
Also present was Akif Saeed, Chairman of the Securities and Exchange Commission of Pakistan (SECP).
The MoU outlines several key areas of cooperation, focusing on technology advancement through joint initiatives in system development and digital transformation. To support human capital development, cross-exchange training programmes and knowledge-sharing initiatives will be organised. Additionally, they will collaborate on product innovation and developing new financial instruments.
The agreement emphasised the harmonisation of regulatory best practices, aiming to enhance market oversight and investor protection frameworks. Another important aspect is the exploration of dual listings, which will create cross-border listing opportunities to expand investor access.
Lastly, the MoU seeks to strengthen commercial linkages by facilitating broker partnerships and institutional connectivity, fostering greater collaboration between financial markets.
"This strategic partnership marks a significant step forward in regional market integration," remarked Akif Saeed at the ceremony.
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