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Bahrain Stock Exchange and Dubai International Financial Exchange sign MoU

31 July 2006  |  2434 views  |  0 Source: Bahrain Stock Exchange

A Memorandum of Understanding (MoU) was signed today between Bahrain Stock Exchange (BSE) and Dubai International Financial Exchange (DIFX) to develop and strengthen capital markets activity in the region.

The MoU was signed by Fouad Rashid, BSE's Director, and Nasser Alshaali, Chief Operating Officer of the DIFX

The MoU aims at strengthening and increasing cooperation between both parties in areas relating to exchange of expertise and information by both parties. The MoU will work on increasing awareness among both parties' market participants regarding the legal framework and investment opportunities available in both bourses. It also encourages listed companies in both stock markets to cross list their securities.

The MoU encourages both parties to jointly organize training programs and enhances relations and cooperation between market participants operating on both stock exchanges

Mr. Rashid, BSE's Director, said: "This landmark agreement promotes the interests of issuers, brokers and investors as well as of both exchanges. We are committed to working towards substantial ties that will promote enhance and develop the Investment environment in both countries and make it more attractive and profitable."

Mr. Alshaali, Chief Operating Officer of the DIFX, said: "As the region's international exchange, the DIFX welcomes cooperation with other exchanges to the benefit of all.

"Closer ties will facilitate international and regional investment, spurring capital markets activity and economic development."

The DIFX and BSE will seek additional avenues of mutual interest in discussions in coming months.

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