A Memorandum of Understanding (MOU) was signed today between Bahrain Stock Exchange (BSE) and Dubai Financial Market (DFM).

Tuesday, 25 March 2008

A Memorandum of Understanding (MOU) was signed today between Bahrain Stock Exchange (BSE) and Dubai Financial Market (DFM).  The MOU was signed by the Director of BSE, Mr. Fouad Rashid, and Executive Chairman of DFM, Mr. Essa Kazim. 

The MOU aims at strengthening and widening the areas of cooperation between Bahrain Stock Exchange and Dubai Financial Market, especially in the areas of mutual expertise and exchange of information relating to the developments in both markets.  It also intends to spread awareness of the legal infrastructure available in both markets as well as investment opportunities.

The MOU will ensure a periodic exchange of information between BSE and DFM and encourage cross-listing as well as collaboration between brokers in both markets. BSE and DFM will both benefit from joint training programs to be conducted following the MOU.

Mr. Fouad Rashid expressed his gratitude in signing the MOU that comes in light of the efforts taken by GCC stock markets to support and develop the investment environment in the region in a way that will benefit all pertinent parties of the opportunities available in the capital markets sector in GCC countries.

Mr. Fouad Rashid emphasized the importance of this MOU in benefiting all pertinent parties including institutions, brokers, and investors saying that it will reflect positively on the performance of both markets.  He also praised efforts taken to support and enhance relations with Dubai Financial Market in order to make investment more attractive and profitable, hoping that listed companies in both markets will benefit from this MOU. 

Mr. Essa Kazim, Executive Chairman of DFM, said that signing this MOU aims to enhance the cooperation between two GCC stock markets that have been witnessing remarkable growth in all aspects since a couple of years.  He also said, Signing this MOU will hopefully facilitate the exchange of expertise and experience pertaining to the areas of technology, training, and all legal and technical procedures of exchanges.  This aims to increase the competitiveness of both markets in a way that will make investments more profitable.  Officials in both markets will continue working on opening new areas of cooperation in order to enhance their relations.  

Bahrain Stock Exchange has signed cross-listing agreements and MOUs with several stock markets regionally and internationally. The most recent MOU was signed last year with London Stock Exchange.