To avail benefits of cross-border cooperation, explore avenues of mutual assistance and enhance coordination with international depositories, CDC signed a number of memorandums of understanding in the past two years. These MoUs entail cooperation in the areas of technology, operational activities and customer care and provided an excellent opportunity to CDC to learn and share experiences with the world’s largest depositories. Moreover, these MoUs also provided training opportunities to the CDC staff, helping them make more positive contribution towards improvement of our service standards. Central Depository Company of Pakistan Ltd. (CDC) and Japan Securities Depository Center, Inc. (JASDEC) signed a memorandum of understanding (MoU) at the JASDEC head office in Tokyo on Thursday, April 17, 2008. This MoU will contribute towards exchange of information and cooperation between the two parties to further enhance mutual business collaboration. On the occasion, Mr. Muhammad Hanif, CEO - CDC highlighted the significance of this MoU. “This memorandum is the first step towards extending direct cooperation between the two organizations. It is an enormous opportunity for CDC to exchange information related to depository services with JASDEC in terms of technology, operations and customer services. We have enjoyed a very cordial relationship with JASDEC in the past and this memorandum will further boost our association. By sharing each other’s valuable experience gained in the effort to cope with the demands of different markets, we will surely be able to improve our services for the betterment of our clients,” said Mr. Hanif. Mr. Yoshinobu Takeuchi, President and CEO of JASDEC expressed his hope that CDC and JASDEC will be able to make contributions to the securities market development of the two countries through information sharing and personnel exchanges. “I hope that the signing of MOU between CDC and JASDEC will act as a catalyst to cement the friendly and cooperative ties between the two central securities depositories,” he commented.
About JASDEC: JASDEC designated as a central securities depository under the CSD Law, provides custody and book-entry transfer services for stocks, convertible bonds, and foreign stocks, book-entry transfer services for corporate bonds, municipal bonds, investment trusts, ETFs and dematerialized commercial papers.