The institutions in charge of this sector in the three countries recently signed a memorandum of understanding in Colombo, considered a historic step, an official statement described.

The agreement seeks to create a forum to facilitate the development and exchange of technology, information, human resources, product development, regulatory collaboration and investor protection among the three markets.

Dhaka Stock Exchange Chairman Mominul Islam told reporters that due to their small size, South Asian stock exchanges, with the exception of India, have technical and procedural limitations.

Due to shortage of resources, these promising exchanges are not achieving the desired capabilities, he added.

He assured that through mutual sharing of resources and expertise, as well as joint investment in technology, the stock exchanges of these three nations will be able to play an effective role in building efficient and robust capital markets at the level of their nations.

mh/arm/mem/lrd