Staff Correspondent

The South Asian Federation of Exchanges, a platform of south Asian stock markets, will launch within four-five months an index styled ‘SAFE Index’ comprising the companies from India, Pakistan, Sri Lanka and Bangladesh, said Rajnikant Patel, chairman of the SAFE, on Wednesday.

‘We have signed an agreement with the Dow Jones to facilitate the process,’ said Rajnikant, also managing director of the Bombay Stock Exchange, at a press briefing at the Dhaka Stock Exchange in the capital.

The SAFE and the DSE organised the press briefing on the two-day Second South Asian Capital Markets Conference-2008, that begins at a city hotel (Thursday). SAFE chairman said the index would be traded at the bourses of the four countries.

Aftab Ahmad Ch, secretary general of the SAFE, said the main agenda of the conference was the integration of the regional markets. He said the conference would facilitate the integration process as regulators, central bankers, brokers, and market players, while other market intermediaries of the region would attend the conference and exchange their views.

‘There will be six sessions of penal discussions in the conference, in which regulators, central bankers, brokers, market players and market intermediaries will take part in discussion,’ said Aftab Ahmad, also chief executive officer of the Islamabad Stock Exchange.

He said Bangladesh finance adviser AB Mirza Azizul Islam is expected to inaugurate the conference as chief guest while commerce adviser Hossain Zillur Rahman would be present at the concluding ceremony as chief guest.

Ahmad Rashid Lali, vice-chairman of the SAFE and also senior vice-president of the DSE, said the DSE would work to form a brokers’ association in the country within one year.

He said forming brokers’ associations in the south Asian countries would be also an agenda of discussion in the conference.

The DSE chief executive officer, Salahuddin Ahmed Khan, said it was expected that around 150 regulators, central bankers, brokers and market players from home and abroad would participate in the conference.

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