Egyptian, Saudi stock markets sign MoU to boost cooperation

The Egyptian Exchange (EGX) and the Saudi Tadawul Group have signed a memorandum of understanding (MoU) to strengthen joint cooperation, Arab Finance reports citing an emailed press release of February 13.

The MoU was signed on the sidelines of the ongoing Saudi Capital Market Forum, held in Riyadh February 12-14.

“We seek to cooperate with regional and international financial markets in areas including dual and concurrent listings, environmental and social practices, corporate governance, financial technology, and diversity and inclusion, in order to achieve our goal of establishing the kingdom’s position as a leading investment destination,” Khalid Alhussan, CEO of the Saudi Tadawul Group.

Ramy El Dokany, Chairman of the EGX, on his part welcomed cooperation with the trading group, especially in the fields of fintech, as well as the joint exchange of experiences to develop human resources in the two markets.

The Saudi Capital Market Forum witnessed as many as 13 deals and partnerships during the two-day event which also hosted a number of informative panel discussions and presentations.

The event hosted over 2,000 issuers, investors, and market participants for two days of dialogue dedicated to advancing regional capital markets.