CDS signs MoU with Pakistani Depository Company
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Assistant Manager - CDS Nadeera Athukorale, CSE Head of Legal Ms. Renu Ranatunge, Manager - Investor Account Services at CDC Faisal Parekh, CDC CEO Muhammad Hanif, CSE & CDS Chairman Vajira Kulatilaka, CSE CEO Rajeeva Bandaranaike, CSE COO Renuke Wijayawardhane and Head of CDS Nalin Fonseka.
Central Depository Systems (Pvt) Ltd (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. It was signed in 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 Muhammad 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.