AMFI, Indonesia's AMII partner to boost bilateral financial, economic cooperation
In a bid to foster bilateral financial and economic collaboration, the Association of Mutual Funds in India (AMFI) and the Asosiasi Manajer Investasi Indonesia (AMII), the Indonesian Investment Managers' Association, on Saturday signed an MoU here.
The 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.
“India’s collaboration with Indonesia aligns with the vision of Viksit Bharat 2047, set forth by Prime Minister Narendra Modi, and Indonesia’s goal of achieving a developed economy by 2045, marking 100 years of their independence,” said Navneet Munot, Chairman, AMFI.
“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,” he added.
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.
According to Hanif Mantiq, Chairman of AMII, this is a pivotal moment in the global mutual fund landscape.
“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,” he mentioned.
The initiatives under this collaboration will include workshops, research, and capacity-building activities designed to educate and empower investors in both India and Indonesia, thus promoting responsible investment practices.
The MoU between AMFI and AMII will also establish working groups to focus on key areas of mutual interest.
