Karachi, Pakistan / Baku, Azerbaijan – February 25, 2025: – Pakistan Stock Exchange (PSX) & Baku Stock Exchange (BSE) have signed a Memorandum of Understanding (MOU) in an online ceremony, marking a significant step towards increasing bilateral collaboration between Pakistani & Azerbaijani Capital Markets. The MOU aims to establish robust communication channels and strengthen the relationship between the capital markets of Pakistan and Azerbaijan, fostering mutual growth and development in the financial services sectors of both countries.
The MOU was signed by Mr. Farrukh H. Sabzwari, Managing Director & Chief Executive Officer of Pakistan Stock Exchange, & Mr. Ruslan A. Khalilov, CFA, Chairman of the Management Board, Baku Stock Exchange. The virtual signing ceremony was attended by senior officials from Pakistan Stock Exchange & Baku Stock Exchange, highlighting the commitment of both institutions to strengthening ties and also help to further develop their respective capital markets.
Under the partnership, PSX and BSE will exchange expertise in market operations, product development, and regulatory best practices. The collaboration will explore cross-border investments and initiatives to enhance market efficiency and liquidity. Key areas of cooperation include facilitating dual listings and investment fund trading, jointly developing products, sharing insights on market operations and regulations, supporting staff secondments, and engaging in capacity-building initiatives for mutual benefit.
Speaking at the ceremony, Mr. Farrukh H. Sabzwari (MD & CEO Pakistan Stock Exchange) said, “This MOU represents an important milestone to strengthen cooperation between the capital markets of Pakistan & Azerbaijan. We believe that by sharing knowledge and expertise, both exchanges can create more dynamic & competitive capital markets, ultimately benefiting investors and businesses in both countries.”
Mr. Ruslan A. Khalilov, CFA (Chairman of the Management Board – Baku Stock Exchange), echoed similar sentiments, he said, “We are delighted to partner with the Pakistan Stock Exchange, a collaboration that reflects our shared vision for advancing capital markets in our regions. This MOU opens doors to innovative opportunities, cross-border investments, and knowledge exchange, paving the way for a stronger financial future for both Azerbaijan and Pakistan”
This strategic partnership is expected to pave the way for closer ties between Pakistan & Azerbaijan in the financial sector, contributing to the overall economic growth and investment climate in both countries.
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