The Depository Trust & Clearing Corporation (DTCC) in New York has signed a Memorandum of Understanding (MOU) with the Central Depository Company of Pakistan Limited (CDC), designed to forge closer ties between the two organizations.
Under the terms of the MOU, CDC and DTCC agree that their respective senior management and staff of both sides could meet on a regular basis to increase mutual understanding and exchange market updates and discuss improvement opportunities and information on business operating models.
The MOU also noted that “the parties anticipate developing a closer working relationship in the future and wish to maintain channels of communication for exchange of information and to promote visits for reasons of friendship and other business purposes.”
“Pakistan has seen an exponential growth in the level of investment, especially foreign investment, and capital market growth in the past few years, and we are delighted to work more closely with CDC through the execution of this new agreement,” says Donald.