The Egyptian Exchange (EGX) held a virtual meeting with the Iraq Stock Exchange (ISX), to activate the memorandum of understanding (MoU) signed between both parties during the Joint High Egyptian Iraq Committee meetings held in Baghdad- Iraq in October 2020.
The MoU aims to enhance cooperation between both exchanges in legislative and technical matters and capacity-building and promotion of best practices, in order to increase competitiveness in a way that contributes to enhancing the position of the two markets internationally. Also cooperation in information dissemination of on important economic developments, especially related to the capital market, which affect the capital market.
Dr. Mohamed Farid, Executive Chairman of (EGX), welcomed the collaboration with ISX. He said that EGX will communicate with ISX team to draft a comprehensive capacity-building program to enhance the efficiency and competitiveness of both markets. The collaboration will also tackle facilitating investments between both exchanges. Farid concluded that he is looking forward to translating this cooperation into results that benefit both markets in various fields.
Mr. Taha Abdul Salam, Executive Manager of Iraq Stock Exchange, said he looks forward to maximizing the benefits of cooperation with EGX for the benefit of both parties adding that this cooperation is a result of the strong relationship between both countries.