Colombo Stock Exchange and Maldives Stock Exchanges sign MoU to strengthen ties

stock exchangeThe Colombo Stock Exchange (CSE) and Maldives Stock Exchange (MSE) have signed a Memorandum of Understanding (MoU) in order to help further strengthen the relationship between the two respective financial markets.The MoU was signed in an effort to  promote cross border investment, cross border listing and explore other opportunities for cooperation between the two Exchanges.

The MoU will also give strength to maintaining channels of communication for exchange of information, knowledge transfer, sharing of technology and other commercial purposes to developing a closer working relationship in the future.

Signing the MoU, CSE Chairman Vajira Kulatilaka said: “The CSE is extending its reach beyond borders to cooperate commercially with its peer exchanges in the region, to collectively uplift the performance of regional Exchanges. We recently hosted the South Asian Investment Conference and took over the Chairmanship of the South Asian Federation of Exchanges (SAFE). The relationships forged through these regional bodies have already begun to yield positive results.”

Speaking about the signing of the MoU, Managing Director/Chief Executive Officer of the MSE, Mr. Hassan Manik said: “We are very pleased to be in Sri Lanka – our very close neighbour– and also glad to sign an MoU which will further strengthen our relationship. This MoU will help both our Exchanges to learn from each other’s experiences.” He went on to add,”In comparison to the CSE the MSE is a very small Exchange, therefore there are many areas in which the CSE can help the MSE to grow and develop.”

In light of the recent agreement between MSE and CSE, Chief Executive Officer of the CSE Rajeeva Bandaranaike said: “The Colombo Stock Exchange seeks to foster regional linkages with Exchanges in order to foster growth and collective development within our geographic influence.”