Dhaka Stock Exchange and the Colombo Stock Exchange accelerate collaborative efforts
The Colombo Stock Exchange (CSE) and the Dhaka Stock Exchange (DSE) jointly announce the signing of a Memorandum of Understanding (MoU) to formalize collaborative efforts directed at mutual development. 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.
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.
Commenting on the development, the Chief Executive Officer of CSE, Mr. Rajeeva Bandaranaike stated “We are pleased to formalize 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 globalized, South Asia has the potential to emerge as a new center of economic strength. 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.
Managing Director of DSE Mr. K.A.M. Majedur Rahman stated “Dhaka Stock Exchange Limited 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. A number of leading global institutions have already joined DSE to work together to take it to the next level of development. 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 ongoing cooperative endeavors to give both the exchanges the necessary leverage to play a leading role in the South Asian region”.
About the Dhaka Stock Exchange
Dhaka Stock Exchange Limited (“DSE”), founded in 1954, is the leading exchange of Bangladesh with over 95% of total market turnover. Since its inception, DSE has been contributing to country’s industrialization, development of infrastructure and overall economic growth. DSE introduced automated trading system in 1998. In line with the global trend and with a vision to be a leading exchange in the region, DSE transformed into a demutualized exchange in 2013. DSE maintains a strong association with different forums of exchanges and market regulators around the world. DSE is a full member of the World Federation of Exchanges and an active member of South Asian Federation of Exchanges. DSE is a partner exchange of United Nations Sustainable Stock Exchanges Initiative. DSE and GRI has a non-exclusive collaboration agreement to build further commitment and awareness to provide guidance to listed companies on Environmental, Social and Governance disclosure in Bangladesh. For more information, please visit: www.dse.com.bd.
About CSE
The Colombo Stock Exchange (CSE) operates the only stock market in Sri Lanka and is responsible for providing a transparent and regulated environment where companies and investors can come together. The CSE is a company that is limited by guarantee established under the Laws of Sri Lanka. The CSE is licensed by the Securities and Exchange Commission of Sri Lanka (SEC) and is a mutual exchange consisting of 15 Members and 14 Trading Members. All Members and Trading Members are licensed by the SEC to operate as Stockbrokers. For more information, please visit: www.cse.lk.
