Manama, July 6 (BNA) The Bahrain Stock Exchange (BHB) and the Abu Dhabi Stock Exchange (ADX) announced the launch of the region’s first digital exchange center (Tadawul).
The stock exchanges celebrated this historic achievement represented by the launch of “Tadawul” with an official bell ringing ceremony that was broadcast live from the Bahrain Bourse and the headquarters of the Abu Dhabi Securities Exchange.
The Chairman of the Board of Directors of the Abu Dhabi Securities Exchange, Hisham Malak, rang the market opening bell at the Abu Dhabi Stock Exchange, and the Minister of Finance and National Economy Sheikh Salman bin Khalifa Al Khalifa rang the market opening bell at the Bahrain Bourse.
The meeting was attended by Minister of Industry and Commerce Zayed bin Rashid Al Zayani and Governor of the Central Bank of Bahrain Rashid Mohammed Al-Maraj.
Tadawul is a partnership agreement signed in November 2021 between the Abu Dhabi Securities Exchange and Bahrain Bourse, to implement a cross-border scheme in the trading and post-trading environments.
It will allow the exchange of investments through Bahrain Bourse and Abu Dhabi and enable investors to trade directly in both exchanges through brokers licensed in both markets.
“We witnessed a remarkable start as a result of the strategic cooperation between Bahrain and the UAE, with the support of His Majesty King Hamad bin Isa Al Khalifa and the President of the United Arab Emirates, His Highness Sheikh Mohamed bin Zayed Al Nahyan,” Finance and the National Economy. The Minister, Sheikh Salman bin Khalifa Al Khalifa, said.
“We are keen to enhance the investment environment in both countries by exploring new ways to collaborate within the capital market ecosystem to further support the local economy.”
Hisham Malak, Chairman of the Abu Dhabi Securities Exchange, said: “Our pioneering leader’s long-standing vision was to establish a network of stock exchanges in the region to ensure market liquidity and lasting financial prosperity, and this vision became a reality with the launch of Tadawul.”
ZHB