The Pakistan Stock Exchange (PSX) and Baku Stock Exchange (BSE) have taken a significant step towards bolstering collaboration between Pakistan and Azerbaijan’s capital markets by signing a Memorandum of Understanding (MOU) in an online ceremony.
The MOU was signed by Farrukh H. Sabzwari, Managing Director & Chief Executive Officer of Pakistan Stock Exchange, and Ruslan A. Khalilov, CFA, Chairman of the Management Board of Baku Stock Exchange.
During the event, both executives emphasized the significance of the partnership in driving mutual economic growth and reinforcing financial sector collaboration.
Statements from Leadership
Speaking at the ceremony, Farrukh H. Sabzwari stated:
“This MOU marks a significant milestone in strengthening financial cooperation between Pakistan and Azerbaijan. By fostering knowledge exchange and collaboration, we aim to create more dynamic and competitive capital markets, ultimately benefiting investors and businesses in both countries.”
Similarly, Ruslan A. Khalilov, CFA, expressed his enthusiasm:
“We are excited to partner with Pakistan Stock Exchange in this crucial endeavor. This agreement paves the way for cross-border investment opportunities, promotes innovation, and sets the stage for long-term financial prosperity for both nations.”
The Pakistan Stock Exchange (PSX) and Baku Stock Exchange (BSE) have identified several critical areas of cooperation under this MOU. These include:
Exchange of Market Expertise
Both stock exchanges will share insights into market operations, trading technologies, and regulatory frameworks to enhance transparency and efficiency in their respective markets.
This exchange of expertise will ensure that both exchanges remain at the forefront of capital market innovations.
The collaboration will explore opportunities to facilitate dual listings of companies from Pakistan and Azerbaijan, enabling investors from both countries to trade across markets.
The MOU aims to enhance cross-border investments by encouraging participation from institutional investors in both markets. This will lead to increased capital flows, boosting economic activity in both countries.
Product Development & Market Innovation
Both exchanges will work together on the development of new financial products, including exchange-traded funds (ETFs), derivatives, and structured products.
A critical aspect of the collaboration is the exchange of regulatory insights to ensure adherence to global best practices in financial market operations.
The agreement includes plans for staff secondments, training programs, and knowledge-sharing initiatives.
These will empower financial professionals from both markets with the latest industry insights and skills.
