MANAMA, 27 May 2007 — Bahrain Stock Exchange (BSE) and Abu Dhabi Securities Market (ADSM) signed here yesterday a memorandum of understanding (MOU) to enhance cooperation in matters related to depository, clearing and settlement of securities. The MOU will allow investors to deal in the shares listed in both markets, which are jointly valued at $80 billion.
“This MOU between ADSM and BSE is an exceptionally important step for the work of visit coordination from both parties, and express the interest of both markets in developing cooperative relationship to a lasting partnership,” ADSM acting Director General Rashed Al-Baloushi, said after the signing ceremony.
“We hope the MOU will benefit the establishments of private sector, stockholding companies, the brokerage firms as well as the investors in both markets, and from the mechanisms of cooperative relationship laid by this memorandum, resulting to growth and prosperity to all,” BSE Director Fouad A.Rahman Rashid said.