Lankapage Logo CP 17 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka's CDS signs MoU with Pakistani Depositary CDC
Wed, Sep 7, 2016, 11:25 am SL Time, ColomboPage News Desk, Sri Lanka.

Sept 07, Colombo: Central Depository Systems (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE) and the Central Depository Company of Pakistan (CDC), recently entered into a Memorandum of Understanding (MoU) regarding strengthening corporation on mutual development and knowledge sharing.

The MoU was signed at the backdrop of the 25th Anniversary celebrations of the CDS, which was attended by the Chairman of the Asia‐Pacific Central Securities Depository Group (ACG) Muhammad Hanif. Chairman of the CSE and CDS Vajira Kulatilaka and Mr. Hanif, in his capacity as the CEO of CDC Pakistan signed the agreement.

The MoU broadens an already productive relationship between the two depositories, which share a long history, including co‐founding the ACG. The CDS in recent years has actively worked towards building up its international alliances, of which notable outcomes include a MoU with the National Securities Depository (Pvt) Ltd of India in 2015 and expanding its role as an active participant of the ACG.

Commenting on the MoU, Mr. Kulatilaka stated that the MoU indicates the continued commitment of the CDS to enhance cooperation within depositories and clearing institutions in the Asian region, especially with those representing neighboring countries.

"The exposure we have gained through affiliations with regional organizations and peers such as the ACG and NSDL India have been instrumental in developing the CDS into an institution of international standards, particularly in terms of implementing best practices. CDC Pakistan is a leading depository in the region and we are pleased at the prospect of working with CDC for the betterment of our depositories and the capital market at‐large," he added.

Upon its historic entry to the capital market as the first depository in South Asia in 1991, the CDS was tasked to specialize in the settlement of securities, transactions and the safekeeping of securities on behalf of domestic and international investors. The Depository has since embarked upon a number of technical and strategic growth initiatives to build and strengthen its infrastructure, implement world‐class systems and provide a safe clearing and settlement environment.

Today, the CDS handles dematerialization operations, accounts services, corporate action services and clearing & settlement services for its stakeholders.

 


ColomboPage - Recent 10 Stories ::
Sri Lanka Investment and Business Conclave 2017 to kick off on May 30 in Colombo
-- [0 minutes ago]
Sri Lanka university authorities decide to suspend scholarships to undergraduates protesting and boycotting lectures
-- [47 minutes ago]
Factories in Sri Lanka asked to generate their own electricity as dry weather continues
-- [2 hours ago]
Sri Lanka Navy to release 100 acres of land in Mullikulam for people
-- [2 hours ago]
Japan donates a fully equipped Ambulance to Sri Lanka Air Force
Indian nationals smuggling foreign currency and Wallapatta arrested in Sri Lanka
Sri Lanka prepares to hold UN Vesak Celebrations for first time
No bilateral agreements during Indian PM's visit to Sri Lanka, President clarifies
Sri Lanka Bureau of Foreign Employment earns Rs. 1.2 billion in profits for the first time
Minister suggests revising water supply charges for the economic stability of water board

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.