Islamabad Stock Exchange (ISE) on Friday signed a Memorandum of Understanding (MOU) with the Rawalpindi Chamber of Commerce and Industries to efficiently manage trade and economic activities.
The MOU, inked by Imtiaz Haider, Managing Director & CEO, ISE, and Syed Ali Raza Saeed Shah, President, Rawalpindi Chamber of Commerce and Industry, at ISE Towers in presence of directors and members of the ISE and Executive Committee of the Chamber.
The purpose of the MoU is to explore co-operation in the areas of common interests including improvement and facilitation of businesses, pursuing companies for listing at ISE, public awareness and enhancing due role of corporate social responsibility including business students development.
Imtiaz Haider said on the occasison, "our effort is to enhance interaction by facilitation of services provided by both entities and represent collectively at different forums to achieve the commercial interest and work for the betterment of stakeholders in general and public in particular."
"ISE considers it appropriate that businessman should no more be focusing on the conventional modes of financing like banks that is not only costly but in case of non-servicing, the consequential effects could be unbearable. Instead businessman should raise capital through stock exchanges that is cheaper and convenient way meeting their funding need. These entities can get themselves listed at OTC market with lesser regulatory and filling requirements giving more credibility as an entity. Having less capital requirements and addressing issues like transfer of shares, etc would be an added benefit to the owner," he added.
The MoU provides for regular exchange of a variety of information including market information, trade publications, and existing laws and regulations, with a view to co-operation between two entities. It also intends to assist the commercial and economic ties between the two entities with the aim to establish and strengthen the business to business contacts.
The MoU calls for providing co-operation and assistance to each other's members. A major highlight of the MoU is the intent of co-operation between the trade promotional activities and activities of mutual interest. Both the organisations aim to cooperate with each other in organising the promotional campaigns for each other including specialised exhibitions, economic and technical fairs, information bureaus, symposium, seminars, and other similar events.