The Saudi Tadawul Group signs pact with Boursa Kuwait
The partnership intends to bolster the growth of capital markets in Kuwait and Saudi Arabia.
Boursa Kuwait signed a memorandum of understanding (MoU) with the Saudi Tadawul Group during the GCC Stock Exchange Summit in Riyadh to cooperate between the two stock exchange operators.
According to the official press release, the MoU aims to explore collaboration opportunities in fintech, products and sustainability in the fields of Environmental, Social and Governance (ESG), reporting and implementation, mutual events, investor relations initiatives, as well as cross-listing of companies on both exchanges.
In addition, the MoU aims to synergise the efforts of both stock exchanges in the areas of financial literacy and raise awareness among market participants from both countries of the latest developments in capital markets regionally and across the globe. Through the memorandum, both Boursa Kuwait and the Saudi Tadawul Group will exchange perspectives on how best to persuade family businesses, government entities and small and medium enterprises (SMEs) to list on their respective exchanges.
Mohammad Saud Al-Osaimi, CEO, Boursa Kuwait, said, “We value the ongoing cooperation between the Kuwaiti capital market and its Saudi counterpart since its inception, and the signing of the memorandum of understanding today is an indication of our long-term partnership to develop the market and enhance the investment environment locally and across the region.
"Guided by our strategy, we at Boursa Kuwait work towards creating an attractive business environment and an adaptable, solvent capital market with high levels of transparency, that is able to attract more and more investors from the region and around the world. Through this MoU, we hope to broaden cooperation and knowledge transfer across the Gulf’s markets in what benefits these markets and the national economies of all parties,” he added.
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