AMFI Partners with Indonesia's AMII to Enhance Financial Cooperation
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Synopsis
On January 25, 2023, the AMFI and AMII signed an MoU in New Delhi to enhance bilateral financial and economic cooperation, focusing on mutual fund sectors, investor education, and best practices.
Key Takeaways
- MoU signed between AMFI and AMII.
- Focus on enhancing mutual fund sectors in both countries.
- Promoting financial literacy and investor education.
- Collaboration aligned with Viksit Bharat 2047 and Indonesia’s 2045 goals.
- Establishing working groups for mutual interests.
New Delhi, Jan 25 (NationPress) In an effort to promote bilateral financial and economic collaboration, the Association of Mutual Funds in India (AMFI) and the Asosiasi Manajer Investasi Indonesia (AMII), which is the Indonesian Investment Managers' Association, signed a Memorandum of Understanding (MoU) on Saturday.
This partnership aims to fortify the mutual fund sectors in both nations, elevate industry standards, and advance investor education and financial literacy, thus creating a more dynamic, transparent, and globally integrated mutual fund ecosystem.
The MoU will facilitate a platform for India and Indonesia to share best practices, insights, and strategies intended to enhance their mutual fund industries.
“India’s partnership with Indonesia is in line with the vision of Viksit Bharat 2047, proposed by Prime Minister Narendra Modi, and Indonesia’s ambition of achieving a developed economy by 2045, which coincides with the centenary of their independence,” stated Navneet Munot, Chairman of AMFI.
“A robust capital market and a flourishing asset management industry, as demonstrated by the success of India’s mutual fund sector, will be vital in realizing these objectives. This collaboration will establish the groundwork for a sustainable and globally competitive mutual fund industry in both nations,” he further noted.
The partnership will encompass a wide range of areas, including the necessity for regulatory reforms, governance standards, crucial investor protection measures, data analytics, research, product innovation, and risk management, ensuring that both countries can leverage each other's expertise and experiences.
As per Hanif Mantiq, Chairman of AMII, this marks a significant moment in the global mutual fund landscape.
“By examining each other’s regulatory frameworks and governance structures, we will be able to provide our investors with enhanced security and innovation in the coming years. The collaboration with AMFI will serve as a benchmark for strengthening the connections between the financial sectors of emerging markets,” he remarked.
The initiatives under this collaboration will involve workshops, research, and capacity-building activities aimed at educating and empowering investors in both India and Indonesia, thereby promoting responsible investment practices.
The MoU between AMFI and AMII will also form working groups to concentrate on critical areas of mutual interest.
