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Two-Day South Asian Federation of Exchanges Conferencece Opens In Lahore, Pakistan On 3rd December

Date 02/12/2003

The two-day third annual general meeting and the sixth conference of South Asian Federation of Exchanges (SAFE) will begin in Lahore tomorrow.

The theme of the conference is 'Strengthening Stock Exchange Listing Regimes and Regional Harmonization', says a press release.

The countries of South Asian region including Bangladesh has taken initiative to commence regional cross border trading facilities among the regional bourses.

SAFE has undertaken a study project to assess the listing regulations of the member exchanges in comparison with international and regional best practice in order to identify strengths, weakness and development needs.

Recently the project team members completed this task by visiting the representatives of each of the member stock exchanges and their regulations.

SAFE Secretary General Wali-ul-Maroof Matin and the International Consultant of the Project Gerry Ritchie were also in the team.

The study result including the findings and experts' recommendation is likely to be discussed in the conference at Lahore.

The SAFE Secretariat, currently located at Chittagong Stock Exchange, has already received consent from the seven securities market regulators of the region (Bangladesh, Bhutan, India, Pakistan, Nepal, Sri Lanka and Mauritius) and the representatives of regulators who will add their valuable inputs.

SAFE expects to inaugurate the cross border trading and listing between India, Pakistan and Sri Lanka. One company from India will be listed in the Pakistan capital market and one from India to Pakistan accordingly. Simultaneously one from Bangladesh to Sri Lanka and one from Sri Lanka to Bangladesh. Colombo Stock Exchange has already agreed on this proposal.

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