Info Tech Pakistan wins the contract to digitize Malawi Stock Exchange
One of Pakistan’s leading information technology company Info Tech headquartered in Islamabad wins the contract to digitize the trading stocks and fixed income securities of Malawi Stock Exchange, the Stock Exchange has vast experience in countries within the South African Development Community (SADC). The company will develop a trading platform and digitize all the resources of the Stock Exchange.
Malawi stock exchange was founded in 1995, under the alliance with Reserve Bank of Malawi, it is the member of African Stock Exchanges Association and World Bank affiliate. The Reserve Bank of Malawi shortlisted and selected Info Tech as the vendor of IT services in order to automate the entire stock exchange. The project is funded by the World Bank to supply and install InfoTech’s Capizar® ATS which is a complete suite for trading platform along with complete infrastructure for the Malawi Stock Exchange.
The project is taking the Reserve Bank of Malawi to the next level of development, growth, efficiency, and transparency and allows to gain geographically independent access to Malawi Stock Exchange.
The proposed solution by InfoTech would address other issues including lack of liquidity making the process of trading and settlement more efficient than ever before. Amir Raza Khan, Vice President and Head of Capital Markets BU at InfoTech said, “It is our honor to work with Malawi Stock Exchange and represent Pakistan at international level. We are really excited that InfoTech has pushed its expansion into African markets especially in the SADC region. I would like to congratulate the Reserve Bank of Malawi to start this project which would automate their processes and hope to gain a rise in aggregate turnover as well as volumes traded.”
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