• Sunday, Sep 20, 2020
  • Last Update : 01:15 am

SAFE starts lobbying for Saarc financial integration

  • Published at 04:53 pm July 25th, 2013
SAFE starts lobbying for Saarc financial integration
South Asian Federation of Exchanges (SAFE) – the lone association of the stock exchanges in the region – has started lobbying to adopt uniform financial regulations among South Asian countries.   As part of the process, a delegation of SAFE, led by its newly elected president Al Maruf Khan called on foreign secretary Md Shahidul Haque and secretary (bank and finance division of Finance Ministry) M Aslam Alam on Thursday.   The delegation urged the Bangladesh government to take the issue into the account for promoting trade and investment among regional countries.      “We have started lobbying among political leaders, policy makers and bureaucrats of Saarc countries for taking necessary steps to adopt financial harmonisation,” said Maruf.    As part of our lobbying plan, we met with some relevant high officials of Bangladesh for making our agenda successful for economic benefit among the regional countries, he said.       SAFE’s plan on developing a harmonised regulatory framework should serve as a first step towards building a financially integrated south Asian region.    “Financial integration is the key to regional growth and to make the most competitive economic area in the world,” Maruf said.  “But the political will among our leaders is a crucial for the promotion of integration and competitiveness.”   SAFE has also plan to visit Saarc Secretariat at Kathmandu soon for submitting their plan to create strong intra-regional links and an integrated economic region.   Aftab Ahmad Chaudhry, SAFE Secretary General, said: “The proposed regulations are related to market operations, market integrity, enforcement regulations and all SAFE members in Pakistan, India, Sri Lanka, Bhutan, Maldives, Bangladesh and Nepal shall be encouraged to adopt provisions of this Rule Book, if applicable, in order to promote market integrity, efficiency and transparency.”   A few months back, SAFE announced completion of the first version of its Rule Book which details uniform model of regulations for adoption by all Saarc nations to financially integrate the region.   The SAFE, a platform of 34 member countries, has taken up a project to promote inter-regional trade and investment with the grant money of $250,000 by USAID a year back.   The concept for this project titled “Regional Financial Integration – Developing a Harmonised Regulatory Framework for the Capital Markets in Pakistan and South Asia” has been developed under the specific needs identified by the Saarc Secretariat of facilitating regional financial integration
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail