New Dehi, Jan 28 (UNI) The stock market regulators of India and Pakistan, namely Securities and Exchange Board of India (SEBI) and Securities Exchange Commission of Pakistan today signed a MoU to establish a general farmework for co-operation, consultation and mutual co-operation.
The MoU was signed between SEBI Chairman M Damodaran and SEC Chairman Razi-ur-Rahman Khan on the occassion of the Second Annual Securities Reguators Forum, beginning tomorrow.
Mr Rahman told Reporters that the agreement will lead to better exchange of information and technological exchnages. He said the two sides will learn on how manipulations can be curbed.
On being asked whether there could be incidents of terrorist funding through stock markets as a case had been suspected earlier, Mr Damodaran said that was an aberration and not a norm.
Mr Damodaran sad SEBI has signed bilateral MoUs with 14 Jurisdictions and a Letter of Intent for mutual co-operation with Hong Kong.
Mr Rahman said the ultimate aim was to achieve regional co-operation relating to stock markets. By listing the products in each other countries will help generate capital for the companies and the region as well.
He said these issues will be taken up during the course of the Conference.
Mr Rahman said the listing arrangemets among companies of the region could also be taken up at the level of SAARC.
UNI SBA-GS PTD RN2013