AMFI, Indonesia's AMII sign MoU to strengthen bilateral financial, economic cooperation

AMFI, Indonesia's AMII sign MoU to strengthen bilateral financial, economic cooperation

Association of Mutual Funds in India (AMFI) and the Asosiasi Manajer Investasi Indonesia (AMII), the Indonesian Investment Managers Association, on Saturday inked a Memorandum of Understanding (MoU) to strengthen bilateral financial and economic best practices.

This partnership is set to strengthen the mutual fund sectors in both countries, enrich industry standards, and promote investor education and financial literacy, paving the way for a more dynamic, transparent, and globally integrated mutual fund ecosystem.

The MoU will create a platform for India and Indonesia to exchange best practices, insights, and strategies aimed at boosting the mutual fund industries.

The partnership will cover understanding and need of broad spectrum of areas, including requirement for regulatory reforms, governance standards, essential investor protection steps, data analytics, research, product innovation, and risk management ensuring that both countries benefit from each other's expertise and experiences.

The MoU was signed here where a delegation of 12 top CEOs from Indonesia's mutual fund industry accompanied the Indonesian President on his state visit to India.

"This partnership resonates with India's commitment to the leadership of the Global South, fostering economic collaboration and mutual growth. A strong capital market and a thriving asset management industry, as exemplified by the success of India's mutual fund sector, will play a crucial role in achieving these milestones. This collaboration will lay the foundation for a sustainable and globally competitive mutual fund industry in both countries," Navneet Munot, Chairman, AMFI, said.

The AMII delegation, which includes senior officials such as the Commissioner of the Indonesian Stock Exchange, the Chairman of AMII, and top leaders from Indonesia's asset management sector, engaged in discussions that promise to be instrumental in shaping the future of mutual funds in both countries.

Hanif Mantiq, Chairman of AMII, emphasized, "By learning from each other's regulatory frameworks and governance structures, we will be able to offer our investors greater security and innovation in the years to come. The collaboration with AMFI will serve as a model for strengthening the bond between the financial sectors of emerging markets.

As part of this event, AMFI hosted a Round Table for the visiting delegation of AMII, Indonesia, highlighting key aspects of the Indian economy's growth story, opportunities in the mutual fund sector, and the pivotal role of technology in driving the capital markets. The round table also explored emerging opportunities at GIFT City and emphasized India's leadership in financial innovation and governance.