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Fiji Ready To Host World Exchange Congress: Narayan

  An agreement for Fiji to host the 15th Annual World Exchange Congress was put in place yesterday. This was after the Memorandum of Understanding was signed by the South
05 Dec 2018 10:00
Fiji Ready To Host World Exchange Congress: Narayan
From Left- Tower Insurance general manager Fiji Islands, Sarah-Jane Wild, Reserve Bank of Fiji Governor Ariff Ali, Fiji Development Bank General Manager Finance, Saiyad Hussan, Acting Prime Minister and Attorney General Aiyaz Sayed-Khaiyum, Terrapinn Holdings Limited managing director Sean Willis, South Pacific Stock Exchange( SPSE) chairperson, Nur Bano Ali, SPSE chief executive officer Krishika Narayan and ANZ Fiji country head, Saud Minam following the World Exchange Congress Agreement signing between SPSE and Terrapinn Holdings Limited at Grand Pacific Hotel in Suva on December 4, 2018. Photo: Ronald Kumar.

 

An agreement for Fiji to host the 15th Annual World Exchange Congress was put in place yesterday.

This was after the Memorandum of Understanding was signed by the South Pacific Stock Exchange (SPSE) and the event organisers, Terrapinn Holdings Limited at the Grand Pacific Hotel in Suva.

About the 2020 Congress

The congress in May 2020 will see over 450 attendees from 60 different countries representing the entire exchange ecosystem.

The World Exchange Congress will be held over two days with over 150 speakers ranging from various developed as well as smaller developing exchanges around the world.

Content that will be discussed will focus on; new technology, new customers, new revenue streams, exchange evolution, regional collaboration and cyber security.

More Opportunity for Fiji’s capital market

SPSE chief executive officer Krishika Narayan said the World Exchange Congress 2019 scheduled in February in Beruit, Lebanon will be the beginning for Fiji; to foster the recognition for SPSE as the stock exchange for the South Pacific region.

Ms Narayan added SPSE being the host for the World Exchange Congress 2020 would further elevate their prominence amongst other market players in the capital market and the greater financial market.

She said: “This event will strongly identify the SPSE as the stock exchange for the South Pacific and this is very much in line with our vision of being internationally recognised as the preferred security exchange in the region.

“This event will also provide a platform for good networking with other stock exchange representatives especially in terms of various collaboration areas and learning from their own experiences.”

Speaking at the signing, Attorney General and Minister of Economy Aiyaz Sayed-Khaiyum commended the stakeholders for the milestone achievement in having Fiji host the 2020 Exchange Forum.

Mr Sayed-Khaiyum said the Fijian Government is very much keen to develop the capital market in Fiji.

Mr Sayed-Khaiyum added Fiji as the hub of the Pacific has the opportunity to showcase to the world that Fiji is a good destination.

Promote Fiji’s Tourism sector

Ms Narayan added this will help Fiji get recognised as both an international profile tourism destination and for its attractive investment opportunities.

“Fiji as well as the SPSE as co-sponsors would be widely marketed for more than 12 months throughout the international capital market community, beginning with the announcement of Fiji as the host country during the 2019 Congress to be held in Beirut, Lebanon,” Ms Narayan said.

“Through the congress Fiji will also be marketed as a tourist destination with a congress package designed to encourage participants to extend their duration of stay on Fiji and enjoy the unique culture of Fiji and its people.

“The Congress will also be an excellent opportunity to establish contacts with other stock exchange reps, with a view to collaboration and learn from each other’s experience.”

Terrapinn Holdings Limited managing director Sean Willis said Fiji was chosen to host the forum because it is a genuinely interesting place.

“Our partnership with the SPSE is an opportunity to showcase the ongoing development of the South Pacific region and Fiji provides the perfect backdrop for our high-level speakers and delegates to meet and discuss the most pressing issues facing capital market development,” Mr Willis said.

Lessons learnt from 2018 Exchange Forum

Ms Narayan said the Reserve Bank of Fiji is actively engaging in ways too for industry regulators to seek membership status in the International Organisations of Securities Commisions.

“It is only through the attendance at the 2018 Congress in Muscat, Oman, that the SPSE is now working to the Memorandum of Understanding with Colombo Stock Exchange in Sri Lanka focused on relation shares relating to efficiency and technological advancement,” Ms Narayan added.

“It was also a learning outcome of the 2018 Congress that recommended industry regulator of the Reserve Bank of Fiji should seek membership status in the International Organisations of Securities Commissions which is the global standard setup for the securities sector.

“If so much can be identified with one person attending this prestigious event one can only imagine what Fiji can achieve when we bring this event to Fiji.”

SPSE Chairperson Nur Bano Ali thanked the Government for their continuous support and impact of such magnitude

“Fiji a small island country to be able to host a world exchange congress and for Ms Narayan to be able to sell Fiji to the organisers, we would like to give you gratitude for your vision, understanding and compassion on the huge impact of such magnitude.”

Feedback: karalaini.tavi@fijisun.com.fj

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