Prime Minister Mohammed Shia Al-Sudani received on Monday, the CEO of the Abu Dhabi Securities Exchange Abdullah Salem Al Nuaimi.
A statement from the Prime Minister’s Office said that during the meeting, ways of joint cooperation in the field of exchanging experiences and developing mechanisms for expanding private sector activities to achieve economic growth were discussed.
The Prime Minister sponsored the signing ceremony of a memorandum of understanding between the Securities Commission and the Abu Dhabi Securities Exchange, where the head of the Securities Commission, Faisal, Wissam Al-Himas, and on behalf of the Emirati side Abdullah Al-Nuaimi, signed on behalf of the Iraqi side.
The memorandum of understanding includes axes for cooperation in several fields, the most important of which is strengthening and developing controls over daily trading in the market, brokerage companies, cooperation in the field of conditions and mechanisms of dual listing, and in the development and use of technological applications, applications and mechanisms of subscriptions and initial listings, as well as in the field of suspensions of trading on shares and re-tinding timings, and REIT fund licensing requirements .
The memorandum also included the exchange of experiences in the field of training, especially control and information technology activities, trading and clearing, digital transformation and financial analysis, deposit, fund and portfolio management and control, cooperation in the field of Islamic bonds and sukuk, deposit, settlement and independent financial services, and the requirements and mechanism of opening accounts for foreign investors from abroad.
In light of the memorandum, Emirati investments will be encouraged in the establishment of Iraqi companies with Emirati-Iraqi capital, and their circulation in both markets will be discussed. /End9
