India, Pak finance sectors work on cross-listing of companies MUMBAI: Top officials from the financial sectors of India and Pakistan are working towards an arrangement under which cross-listing of companies from the two countries could be allowed.

Working under the aegis of South Asian Federation of Exchanges (SAFE), a group of delegates from Pakistan on Tuesday met top executives of MCX Stock Exchange (MCXSX ) and NSDL, and over the next two days are scheduled to meet top officials at Sebi, NSE and BSE.

"On one hand cross-listing could position India as a regional financial hub for SAARC. On the other, it could also help companies from smaller nations, where there are not many domestic investors , to realize their true potentials in terms of valuations," said Aftab Ahmad Chaudhry, secretary general, SAFE, a member of the delegation.

The group of top officials from Pakistan's financial sector is visiting India under 'Aman Ki Asha' (Hope for Peace) initiative, a joint programme of two of the largest media groups on both sides of the border - The Times of India and the Jang/Geo group of Pakistan. The Pakistani group is being led by Imtiaz Haider, commissioner, securities market division, Securities and Exchange Commission of Pakistan ( SECP).

Speaking to TOI, Joseph Massey, MD & CEO, MCX-SX said since there are lot of common things between the two countries, including the language , it has been agreed to work towards a structure of calibrated flow of capital between the two neighbours.

Courtesy by TNN | Times of India

Tuesday, December 20, 2011

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