Memorandum of understanding between "Abu Dhabi Securities" and"Iraqi securities"

2025/01/27 5:44:08 PM

3 minutes read

ABU DHABI, 27th January, 2017 (WAM) – The Abu Dhabi Securities Market signed a memorandum of understanding with the Iraqi Securities Commission at the government palace in Baghdad, under the patronage of the Prime Minister, Engineer Muhammad Shayaa Al-Sawadni, with the aim of enhancing cooperation in a group of major initiatives.
The memorandum of understanding highlights the commitment of the two financial markets to strengthening relations between the capital markets in both countries and cooperating in initiatives aimed at enhancing trade and investment opportunities in each other’s economy.
Under this memorandum of understanding, the Abu Dhabi Stock Exchange and the Iraq Stock Exchange can explore ways of cooperation in areas including technology, sharing best trading practices, education and training initiatives for investors, and enhancing areas of market development and innovation areas.
The memorandum of understanding will also pave the way for the Iraqi Stock Exchange to join as a member of the Tabadul digital trading platform, the first digital exchange platform in the region that relies on the mechanism of mutual access to markets, enhancing communication and opening new horizons for cross-border investment opportunities.
The Abu Dhabi Securities Exchange launched the Exchange platform in July 2022, and it is considered the first digital trading center in the Middle East. It is based on the mechanism of mutual access to markets, as the platform facilitates cross-border exchange, connects member financial markets, and also enables brokerage companies to access… Seamlessly access the markets within the exchange network, providing more opportunities for investors to invest across various markets.
With the Abu Dhabi Securities Market, the platform includes the Bahrain Stock Exchange, the Muscat Stock Exchange, the Astana International Stock Exchange, the Kazakhstan Stock Exchange, the Central Asian Stock Exchange, the Armenia Stock Exchange, and the Amman Stock Exchange, and there are also discussions with 10 financial markets to join the platform.
According to the memorandum, the two markets will work together to improve electronic trading and post-trading systems, exchange modern trading practices and technologies, in addition to launching a set of educational and training initiatives that contribute to market development and innovation.
Abdullah Salem Al Nuaimi, CEO of the Abu Dhabi Securities Exchange Group, said: Our agreement with the Iraq Stock Exchange represents an important step in our endeavor to enhance communication and exchange of experiences between the Abu Dhabi Securities Exchange and other Arab and regional markets, as this cooperation contributes to expanding our presence regionally, including… It is in line with our goals to increase cross-border market activity and provide more opportunities for investors.
He added: We look forward to welcoming the Iraq market as a new member joining the “Tabadul” digital platform, which provides a new investment portal and a unique opportunity that provides seamless access to new growth markets and investment options in companies listed in both markets. In addition, we welcome investors from Iraq to the Abu Dhabi Securities Market. Finance and provide them with the opportunity to get to know the market better and benefit from the success and growth of companies listed on the Abu Dhabi Securities Market.
For his part, the head of the Iraqi Securities Commission, Faisal Al-Haims, considered the Iraqi Stock Exchange’s accession to the “Tabadul” platform a qualitative leap in the path of developing the Iraqi financial market and enhancing integration with regional markets, and this cooperation with the Abu Dhabi Stock Exchange comes within the framework of the Iraqi government’s vision. To support economic growth and stimulate investment, in line with the government program aimed at promoting economic openness and developing the financial infrastructure.
He explained that the Iraqi Stock Exchange’s accession to the “Tabadul” platform enhances mutual investment opportunities between the two countries, and provides an advanced platform to connect Iraqi investors with regional and international investment opportunities.