The Colombo Stock Exchange (CSE) and the Dhaka Stock Exchange (DSE) have signed a Memorandum of Understanding (MoU) to pave the way of exchanging information between two exchanges.
The MoU was signed on March 28 last while a three-member DSE delegation made a visit to Colombo to attend a program namely 'High level engagement with Listed companies: Sustainability Reporting for Sustainable Development'.
The DSE representatives attended the programme following the invitation of the Netherlands based Global Reporting Initiative (GRI).
The delegation included DSE Director Minhaz Mannan Emon, DSE Managing Director K.A.M. Majedur Rahman and Assistant General Manager Moniruzzaman Miah.
On the other hand, CSE CEO Rajeeva Bandaranaike and CSE Head of Strategy Nilma Samarasinghe were present at signing ceremony of the MoU.
"The MoU will pave the way for a greater level of information exchange between the two stock exchanges and will focus on product development, capacity building and the joint promotion of capital raising efforts both in Bangladesh and Sri Lanka," said a DSE release.
It also said the MoU is also set to contribute towards enhancing economic and business relations between Sri Lanka and Bangladesh and further enhance efforts towards capital market integration in the South Asian region.
Chief Executive Officer of CSE, Rajeeva Bandaranaike said, "We are pleased to formalise our efforts of cooperation with DSE through this MoU. We have in recent years made a considerable effort towards collaborating with our peer exchanges in Asia, and particularly the South Asian region."
As capital flows and capital markets at-large become more globalised, South Asia has the potential to emerge as a new centre of economic strength, said the CSE CEO.
"Cooperation of our capital markets would play a pivotal role in achieving this. We look forward to closely working with DSE for the benefit of our capital markets."
The managing director of the premier bourse K.A.M. Majedur Rahman said, "The is the premier bourse of Bangladesh with a cutting-edge trading technology from Nasdaq, FlexTrade and Trapets and provides a suitable trading platform for the investors in home and abroad."
He also said a number of leading global institutions has joined the DSE to work together to take it to the next level of development.
"In last year, the consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange joined as our strategic investors. This MoU between DSE and CSE will further cement our cooperative endeavors to give both exchanges the leverage to play a leading role in the South Asian region," said the DSE managing director.
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