Hiran Mendis, Director General of the Colombo Stock Exchange (CSE), signed a Memorandum of Understanding (MOU) with the Karachi, Lahore and Islamabad Stock Exchanges, on behalf of the CSE, during a visit to Lahore. The CSE has already in place, a MOU with the Stock Exchange of Mumbai.
A CSE statement said the agreements will foster mutual assistance between the parties involved to “enhance cooperation for the development of the securities market and to encourage cooperation between the exchanges in the areas of information sharing, training and education, technological development, new product development and cross border listings.”
The agreements were signed in order to ensure the need for greater cooperation and coordination between “emerging market” countries. The 4 Exchanges share similar socio-economic conditions in their respective countries and recognize the value and importance in harmonizing market practices and regulations.