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Great opportunity for capital investors

LAHORE (NNI): Easing up of regional tension would pave way for cross border listing of companies in the region and an announcement in this regard is expected during the conference of the South Asian Federation of Exchanges (SAFE) being held at Lahore on December 3-4, 2003.

The sixth conference of SAFE has coincided with most opportune moment for capital market investors as the relations between the two major adversaries India and Pakistan are rapidly improving after Prime Minister Jamali's unilateral decision for ceasefire in Kashmir and equally positive response from his Indian counter-part.

The countries of South Asian region including Bangladesh has taken initiative to commence regional cross border trading facilities among the regional bourses. The above initiative will be successfully done when the regional watch dog bodies Securities and Exchange Commission will permit and give permission to do cross border trading.

NNI has learnt that as a first step the SAFE think tank would encourage one company each from Bangladesh and Sri Lanka to get listed in each other's exchange. Colombo Stock Exchange has already agreed on this proposal. Similarly, they would desire one listed company in Pakistan and India to get listed in other's exchange to initiate the integration process. This would attract foreign investors and fund managers towards South Asian capital markets.

President Musharraf's assurance to the visiting Indian businessmen of no bar on Indian investment in Pakistan has enhanced the possibility of Pakistani Company getting listed in Indian stock market or Indian Company obtaining listing at a Pakistani exchange.

The capital markets in both countries have showered their approval to the peace process in a bullish way. In India the Bombay Stock Exchange Index increased by almost 10 per cent from 4770 points on November 20 to 5129 points on December 1, 2003. The Karachi Stock Exchange Index increased by almost similar percentage from 3,893 points on November 20 to 4,239 points on December 1, 2003.

The sixth conference of the SAFE being held at Lahore would also be its 3rd Annual General Meeting. The theme of the conference is 'Strengthening Stock Exchange Listing Regimes and Regional Harmonisation'. In the ensuing 3rd AGM at Lahore on 4th December, the SAFE members will give their best efforts to come up with joint decision for regional trading.

The members of SAFE will try to create some future initiatives from THINKING TANK, which strengthen member exchanges. SAFE was convened by the Chittagong Stock Exchange in the year 2000 and Mr. Amir Khosru M Chowdhury present Commerce Minister of Bangladesh was the founder President of SAFE.

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.

The above study project will bring efficiency to start cross border listing and trading among the SAFE members. Recently the project team members completed this task by physically visiting the representatives of each of the member stock exchanges and their regulators. SAFE Secretary General Mr Wali-ul-Maroof Matin and the International Consultant of the Project Mr Gerry Ritchie were also in the team who visited the member exchanges. The study result including the findings and experts' recommendation will be discussed in the conference at Lahore, Pakistan.

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

Currently SAFE has twelve members, that include Chittagong Stock Exchange, Colombo Stock Exchange, Dhaka Stock Exchange, Islamabad Stock Exchange, Karachi Stock Exchange, Lahore Stock Exchange, Mumbai Stock Exchange (BSE), National Stock Exchange India, Nepal Stock Exchange, OTC Exchange India, Royal Securities Exchange Bhutan and Stock Exchange of Mauritius.


	Great opportunity for capital investors LAHORE (NNI): Easing up of regional tension would pave way for cross border listing of companies in the region and an announcement in this regard is expected during the conference of the South Asian Federation of Exchanges (SAFE) being held at Lahore on December 3-4, 2003. The sixth conference of SAFE has coincided with most opportune moment for capital market investors as the relations between the two major adversaries India and Pakistan are rapidly improving after Prime Minister Jamali's unilateral decision for ceasefire in Kashmir and equally positive response from his Indian counter-part. The countries of South Asian region including Bangladesh has taken initiative to commence regional cross border trading facilities among the regional bourses. The above initiative will be successfully done when the regional watch dog bodies Securities and Exchange Commission will permit and give permission to do cross border trading. NNI has learnt that as a first step the SAFE think tank would encourage one company each from Bangladesh and Sri Lanka to get listed in each other's exchange. Colombo Stock Exchange has already agreed on this proposal. Similarly, they would desire one listed company in Pakistan and India to get listed in other's exchange to initiate the integration process. This would attract foreign investors and fund managers towards South Asian capital markets. President Musharraf's assurance to the visiting Indian businessmen of no bar on Indian investment in Pakistan has enhanced the possibility of Pakistani Company getting listed in Indian stock market or Indian Company obtaining listing at a Pakistani exchange. The capital markets in both countries have showered their approval to the peace process in a bullish way. In India the Bombay Stock Exchange Index increased by almost 10 per cent from 4770 points on November 20 to 5129 points on December 1, 2003. The Karachi Stock Exchange Index increased by almost similar percentage from 3,893 points on November 20 to 4,239 points on December 1, 2003. The sixth conference of the SAFE being held at Lahore would also be its 3rd Annual General Meeting. The theme of the conference is 'Strengthening Stock Exchange Listing Regimes and Regional Harmonisation'. In the ensuing 3rd AGM at Lahore on 4th December, the SAFE members will give their best efforts to come up with joint decision for regional trading. The members of SAFE will try to create some future initiatives from THINKING TANK, which strengthen member exchanges. SAFE was convened by the Chittagong Stock Exchange in the year 2000 and Mr. Amir Khosru M Chowdhury present Commerce Minister of Bangladesh was the founder President of SAFE. 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. The above study project will bring efficiency to start cross border listing and trading among the SAFE members. Recently the project team members completed this task by physically visiting the representatives of each of the member stock exchanges and their regulators. SAFE Secretary General Mr Wali-ul-Maroof Matin and the International Consultant of the Project Mr Gerry Ritchie were also in the team who visited the member exchanges. The study result including the findings and experts' recommendation will be discussed in the conference at Lahore, Pakistan. The SAFE Secretariat (currently located at Chittagong Stock Exchange) has already received joining consent from the invited seven securities market regulators of the region (i.e. Bangladesh, Bhutan, India, Pakistan, Nepal, Sri Lanka and Mauritius) and the representatives of regulators who will add their valuable inputs. Currently SAFE has twelve members, that include Chittagong Stock Exchange, Colombo Stock Exchange, Dhaka Stock Exchange, Islamabad Stock Exchange, Karachi Stock Exchange, Lahore Stock Exchange, Mumbai Stock Exchange (BSE), National Stock Exchange India, Nepal Stock Exchange, OTC Exchange India, Royal Securities Exchange Bhutan and Stock Exchange of Mauritius.
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