PSX, Qatar Financial Centre sign deal

KARACHI: Pakistan Stock Exchange (PSX) and Qatar Financial Centre (QFC) signed a memorandum of understanding (MoU) on the sidelines of the Pakistan-Qatar Trade and Investment Conference on Monday.

The agreement would see QFC and PSX collaborate on a variety of initiatives. It would include promoting bilateral business development opportunities, facilitating mutual cross-selling of financial products, facilitating trade and investment, as well as likely establishment of an international financial centre in Karachi or another major city in Pakistan.

The signing ceremony was held in the presence of Advisor for Commerce, Textile, Industry and Production, and Investment Abdul Razzaq Dawood and his Qatari counterpart, Ali Bin Ahmed Al-Kuwari, Minister of Commerce and Industry.

PSX Managing Director Richard Morin said, “This MoU provides the framework to continue and formalise the very constructive discussions QFC and PSX have had in the past few months, and lead to concrete collaboration initiatives. Collaboration between our two organisations will not only benefit our two countries’ respective financial sectors but it will also help facilitate and support bilateral investments in other sectors.”