The Saudi Stock Exchange (Tadawul) and Bursa Malaysia (MYX) Sign Cooperation Agreement
The Saudi Stock Exchange (Tadawul) and Bursa Malaysia have entered into a Memorandum of Understanding (MoU), which will serve to deepen and formalize the existing cooperation between the two exchanges.
The MoU, signed on the 10th February, by Adel Saleh Al-Ghamdi, Chief Executive Officer of the Saudi Stock Exchange, and Dato’ Tajuddin Atan, Chief Executive Officer of Bursa Malaysia, enables the two parties to share knowledge and expertise, opens the door for people development, and allows both parties to explore future opportunities in matters relating to capital market development, particularly in the area of Islamic finance.
The signing of the MoU follows similar agreements recently inked by the Saudi Stock Exchange with both the Abu Dhabi Securities Exchange and Bahrain Bourse. The agreement further resonates the serious efforts of the Saudi Stock Exchange to galvanize its ties and business relationships with its regional and international peers.
The MoU covers a range of commercial and non-commercial aspirations that will not only benefit the respective exchanges, but will potentially lead to benefits to market stakeholders on both platforms.