Dailymirror.news,New Delhi, January 27th, 2025: In a significant move to foster bilateral cooperation, the Association of Mutual Funds in India (AMFI) and the Asosiasi Manajer Investasi Indonesia (AMII) have formally signed a Memorandum of Understanding (MoU) to strengthen financial and economic ties between India and Indonesia.

The agreement was signed on January 25, 2025, during a special ceremony in New Delhi, which also marked the state visit of Indonesia’s President to India. A delegation of 12 leading CEOs from Indonesia’s mutual fund sector accompanied the President for this historic event.

This MoU aims to enhance and synergize the mutual fund sectors of both countries, promoting industry standards, investor education, and financial literacy. It envisions a more transparent, dynamic, and globally integrated mutual fund ecosystem.

Through this partnership, AMFI and AMII will create a platform to exchange insights, best practices, and strategies across a wide range of areas, including regulatory reforms, governance standards, investor protection, data analytics, research, product innovation, and risk management. This collaboration will help both nations leverage each other’s expertise and experiences for mutual benefit.

As part of the event, AMFI hosted a roundtable discussion with the AMII delegation, focusing on key aspects of India’s economic growth, the opportunities in the mutual fund sector, and the role of technology in driving capital markets. The roundtable also spotlighted emerging opportunities at GIFT City and India’s leadership in financial innovation and governance. Key speakers at the event included:

  • Mr. Amitabh Kant, Sherpa for G20 and former CEO of Niti Aayog
  • Mr. Anuj Kumar, Managing Director, CAMS
  • Mr. Hanif Mantiq, Chairman of AMII and CEO of Star AM, Indonesia
  • Mr. Mohamad Oki Ramadhana, Commissioner of Indonesian Stock Exchange (IDX)
  • Mr. Marsangap P Tamba, Chairman of APRDI and PWMII, Commissioner of PT Principal AM, Indonesia

During the signing ceremony, Mr. Navneet Munot, Chairman of AMFI, commented, “This collaboration aligns perfectly with India’s vision of Viksit Bharat 2047, as envisioned by Prime Minister Shri Narendra Modi, and Indonesia’s goal of achieving a developed economy by 2045, marking 100 years of independence. The partnership will contribute to India’s leadership in the Global South and further solidify the relationship between the two countries’ financial sectors.”

Mr. Venkat Chalasani, Chief Executive of AMFI, added, “This MoU marks a significant milestone for both the Indian and Indonesian mutual fund industries. By working together, we are enhancing governance standards, boosting investor confidence, and driving innovation. This collaboration opens up vast opportunities for knowledge exchange and will strengthen the asset management industry in both countries.”

The AMII delegation, including prominent figures such as the Commissioner of the Indonesian Stock Exchange and the Chairman of AMII, will engage in discussions centered on shaping the future of mutual funds in both nations. This collaboration is expected to lead to deeper cross-border cooperation, with a focus on governance, innovation, and operational excellence.

Mr. Hanif Mantiq, Chairman of AMII, remarked, “This partnership represents a pivotal moment for the global mutual fund landscape. By exchanging regulatory frameworks and governance models, we can offer greater security and innovation to our investors. This collaboration with AMFI will serve as a benchmark for strengthening the ties between financial sectors in emerging markets.”

The initiatives under this MoU will include workshops, research, and capacity-building activities aimed at educating investors in both India and Indonesia. These efforts will promote responsible investment practices and empower investors in both countries.

Additionally, the MoU establishes working groups that will focus on key areas of mutual interest, driving initiatives and regularly reviewing the progress of the collaboration to ensure it remains impactful and relevant.

The partnership between AMFI and AMII is poised to become a gateway for further financial market integration between India and Indonesia, fostering deeper ties between the two countries’ financial markets in the years to come.