CSE takes over SAFE Chairmanship

The Chairman of the Colombo Stock Exchange (CSE) was unanimously elected as the Chairman of the South Asian Federation of Exchanges (SAFE) at the Annual General Meeting of SAFE concluded on April 26 2015.

Accordingly, CSE Chairman Vajira Kulatilaka succeeds Dr. Muhammad Abdul Mazid as the Chairman of SAFE for a two year term of office.

Dr. Muhammed Abdul Mazid, Chairman of the Chittagong Stock Exchange and Nayan Mehta, Chief Financial Officer of the Bombay Stock Exchange were elected as Senior Vice Chairmen while Rashed Al Balooshi, Chief Executive Officer of the Abu Dhabi Securities Exchange was elected as the Vice Chairman.

The CSE was one of the founder members of SAFE which was established in 2000 with the objective of promoting the development and harmonization of securities markets in the South Asian Region.

Presently SAFE has 15 primary members comprising stock and commodity exchanges from India, Pakistan, Bangladesh, Sri Lanka, Nepal, Maldives, Mauritius, Bhutan and the UAE.

It also has several depositories and clearing houses in the region as associate members.

The permanent secretariat is located in Islamabad, Pakistan.

The new Executive Board of SAFE would have its first meeting under the Chairmanship of the CSE in Kunming China to develop a ten year vision and plan for the association in June 2015 while the next Annual SAFE conference is to be hosted by the Bombay Stock Exchange in 2016.