May 28, 2008	Wednesday	Jamadi-ul-Awwal 22, 1429

ISLAMABAD, May 27: The Bursa Malaysia has agreed to forge cooperation in areas like Islamic corporate market, information sharing and dual-listing.

The Bursa Malaysia also agreed to receive a delegation of the Karachi Stock Exchange to discuss various provisions of the proposed memorandum of understanding to be signed between Pakistan and Malaysia to enlarge scope of cooperation between the exchanges of the two countries.

This was stated at a meeting between Bursa Malaysia’s CEO Dato Yusli Mohammed Yusoff and Pakistan’s High Commissioner Lt-Gen (Retd) Tahir Mahmud Qazi and commercial counsellor Majid Qureshi in Kaula Lumpur on Tuesday, according to a message received here.

Mr Yusli also offered to help Pakistan obtain membership of The World Federation of Exchanges, a trade organisation aimed at regulating securities and derivative markets, settlement institutions and related clearing houses, and their diverse services to capital markets.

The high commissioner of Pakistan apprised Mr. Yusli that the KSE is one of world’s best performing stock markets with over 650 listed companies and market capitalisation of $66 billion.

The KSE 100-share index, which was at 1,300 points in 2002 climbed to over 15,000 points in May 2008, indicating investors’ confidence in its inherent strength.

The KSE has already consented to forge collaboration between the two stock exchanges, keeping in view the increased international and regional activities in securities market necessitating greater coordination between the emerging markets, like Malaysia and Pakistan to promote and encourage a long term relationship between business communities of the two countries.—APP