The Bahrain Bourse and the Saudi Tadawul Group have signed an agreement to enhance cooperation and coordination between both financial entities, on the sidelines of the third meeting of the Saudi-Bahraini Coordination Council in Riyadh.
The Chief Executive Officer of the Bahrain Bourse, His Excellency Shaikh Khalifa bin Ibrahim Al Khalifa, affirmed the strong and longstanding fraternal relations between the Kingdom of Bahrain and the Kingdom of Saudi Arabia, which have been witnessing continuous growth in various fields.
Shaikh Khalifa bin Ibrahim Al Khalifa stated that the cooperation agreement would contribute to enhancing integration between the Bahrain Bourse and the Saudi Tadawul Group, where the two parties will work on strengthening and developing an integrated structure to enhance investments in both markets, including the development of new products.
“This initiative is instrumental in reinforcing the ties of collaboration across the capital market sectors of the two countries. It is a key part of concerted efforts to enhance inter-exchange cooperation and linkages within the GCC countries, resonating with the strategic objectives outlined for the development of the financial services sector during the 2022-2026 period. This agreement seeks to generate a multitude of investment opportunities for investors in both countries. This will be achieved through the development and introduction of various innovative products and the enhancement of trading mechanisms. This includes streamlining deposit and clearing processes in both markets, which is anticipated to considerably boost the linkage and collaboration between the two markets, and in turn, support the economic growth of both countries.”
The Chief Executive Officer of the Saudi Tadawul Group, Engineer Khalid bin Abdullah Al Hussan, said that, “The agreement with Bahrain Bourse, allows us to further drive regional integration amongst GCC exchanges, whilst unlocking exciting opportunities for investors regionally and internationally.”
Eng. Al Hussan added that, “This agreement is in line with our commitment to elevate the Saudi capital market and we look forward to exploring future opportunities to collaborate on new products, as well as enhancing the infrastructure across both markets for all market participants.”