The 4th international training programme for securities market professionals of South Asian Federation of Exchanges (Safe) has been started at National Institute of Banking and Finance (Nibaf) here on Monday.
The course has been launched with the co-operation of the Nibaf, a subsidiary of the State Bank of Pakistan (SBP), and the BSE Training Institute (BTI), of the Bombay Stock Exchange.
Addressing the inaugural ceremony, Chairman Islamabad Stock Exchange (ISE) Shahryar Ahmad welcomed the participants from the different South Asian countries. He said that training programmes would enhance the working capacity of the professionals and would also bring together people from different capital markets of regions, promoting interpersonal contacts and learning.
He said that the executives of this region face a dearth of cost - effective learning opportunities and adequate training facilities. Unfortunately, our capital markets sector has been unable to make any long-term investment in this area forcing the executives to go abroad for training, which involves huge costs. However, Safe has taken a commendable step to provide an ideal learning opportunity at a manageable cost for the participating organisations.
He added that under the programme, participants from seven countries of the region would be trained. He said it is encouraging to note that the programme has representation from 25 different organisations of the region such as stock exchanges, securities regulatory bodies, brokerage houses, banks, development finance institutions, depositories companies and clearing institutions.
ISE Chairman said that Safe's annual training projects shall catalyse the activities in South Asian Capital Markets and provide training facilities at affordable costs while maintaining quality parameters.
There is a strong need to co-ordinate with other regional federations to further the effectiveness of such ventures. This shall obviously enhance the working capacity of our executives.
Shahryar Ahmad said that presently Safe is facing challenge in implementation of the envisioned projects though such challenges serve to strengthen our resolve and belief in the potential of the South Asian capital markets.
We are committed to establish a co-operative culture that culminates into the vibrant South Asian Corporate theme. At this August gathering of a dynamic group of securities market professionals from all over the South Asia, we must also form a resolve to ensure investors' protection through risk-controlled regulations aimed at fostering growth of a robust corporate and financial sector.
We must also be committed towards extending further facilitation and co-operation amongst the regions' markets. Our commitment towards regional co-operation would indeed reveal rigorous implementation of projects of mutual fund, which shall serve to bring out tremendous potential of our region.
Aftab Ahmad Chaudhry Managing Director ISE and Kazi Muktadir, Managing Director Nibaf also welcomed the participants and hoped that the participants will benefit a lot from the programme. The programme will continue for five days which includes a number of cultural and social excursions to give the participants a complete country orientation to make their trip to Pakistan memorable.
During the course of the training programme, the participants shall be travelling to Lahore to visit the Lahore Stock Exchange and experience the rich cultural heritage of the historic city.
It may be noted that the Safe is an association of 13 Securities Exchanges and 6 Securities and Depositories and Clearing Companies of South Asian countries including Bangladesh, Bhutan, India, Maldives, Mauritius, Nepal, Pakistan and Sri Lanka. The permanent Secretariat of the Safe has been established in Islamabad to streamline and co-ordinate all Safe activities in the eight South Asian countries.