The Association of Mutual Funds in India (AMFI) and the Asosiasi Manajer Investasi Indonesia (AMII), the Indonesian Investment Managers Association have on Friday signed a Memorandum of Understanding (MoU) 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 is aimed towards strengthening 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.
According to AMFI, 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, governancestandards, essential investor protection steps, data analytics, research, product innovation, and risk management ensuring that both countries benefit from each other's expertise and experiences.
As part of this historic event, AMFI hosted a Round Table for the visiting delegation of AMII, Indonesia. The round table also explored emerging opportunities at GIFT City and emphasized India's leadership in financial innovation and governance.
Venkat Chalasani, Chief Executive, AMFI said, "By working together, we (India and Indonesia) are creating a unique opportunity to enhance understanding of market led financial industry, standards of governance, boost investor confidence, and drive innovation. This MoU will facilitate knowledge exchange between the two countries through the industry bodies"
Hanif Mantiq, Chairman of AMII, said, "The collaboration with AMFI will serve as a model for strengthening the bond between the financial sectors of emerging markets. The initiatives under this collaboration will also include workshops, research, and capacity-building activities designed to educate and empower investors in both India and Indonesia, thus promoting responsible investment practices.”