Sri Lanka’s stock market named ‘Most Sustainable Growth Exchange’ in Asia
EconomyNext – Colombo Stock Exchange (CSE) has been named Asia’s “Most Sustainable Growth Exchange” for 2014 by Capital Finance International (CFI), a print journal and online resource reporting on business, economics and finance, based in the United Kingdom.
CSE Chairman Vajira Kulatilaka said he hopes the international recognition will be a further impetus to efforts in attracting foreign investors to the market.
"As a Frontier Market we are making great strides forward and this is being observed by prominent institutional investors," he said in a statement.
"This was evident in our performance in 2014 where the CSE achieved the highest recorded foreign purchases in its history.”
The CSE was nominated and shortlisted for the award based on voting by CFI readers, subscribers and contributors who include the World Bank, International Monetary Fund, Pacific Investment Management Company and Fidelity Investments.
The criteria included market leadership, innovation, customer satisfaction, financial performance, implementation of technology, client service, added value advisory, risk management, transparency, compliance, corporate governance, quality of communications and strength of nominations.
The award is the CSE’s first international award of its nature.
Rajeeva Bandaranaike, Chief Executive of the CSE said the exchange has streamlined processes to international standards; having achieved ISO certifications in the areas of information security, business continuity and information services.
"Similarly our cutting edge technology provides all industry participants with a trading platform that is multifunctional, secure and accessible."