Dubai and Bahrain bourses seal accord

Dubai: The Dubai Financial Market (DFM) signed a memorandum of understanding (MoU) with Bahrain Stock Exchange (BSE) to strengthen and widen cooperation, specially in the areas of mutual expertise and exchange of information relating to the developments in both markets.

The MoU was signed by the director of BSE, Fouad Rashid, and the chairman of DFM, Eisa Kazim.

The agreement also intends to spread awareness of the legal infrastructure available in both markets as well as investment opportunities.

The agreement 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 programmes to be conducted following the agreement.

Eisa Kazim, said, "Signing this MoU will facilitate the exchange of expertise and experience pertaining to the areas of technology, training, and all legal and technical procedures of the 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."

Fouad Rashid emphasised the importance of this deal in benefiting all pertinent parties, including institutions, brokers, and investors, saying that it will reflect positively on the performance of both markets.