Muscat: In accordance with the official visit of HRH Prince Mohammed bin Salman Al Saud, the Crown Prince, Deputy Prime Minister and Minister of Defence of the Kingdom of Saudi Arabia, Muscat Stock Exchange (MSX) signed a memorandum of understanding (MoU) with the Saudi Tadawul Group to strengthen bilateral relations and cooperation between the two Exchanges, while simultaneously creating a conducive investment environment for investors.
The MOU was signed by Haitham bin Salem Al Salmi, CEO of the Muscat Stock Exchange, and Eng. Khalid bin Abdullah Al-Hussan, CEO of the Saudi Tadawul Group, in a ceremony held on this occasion on December 6 at the Oman Convention and Exhibition Centre.
The memorandum of understanding provides for strengthening a number of aspects of common interest and working to agree on the dual listing, activating the role of financial technology, sharing research and data between the two institutions. In addition to learning from shared experiences, this MoU also helps to develop diversity and inclusion in the two exchanges, explore opportunities for bilateral exchange, and develop sustainability, environmental, social and corporate governance.
On the partnership stretch, Haitham Al Salmi mentioned “There is tremendous growth potential in both markets and this agreement will help MSX learn from the peer experience and knowledge to enhance further growth possibilities, as Tadawul is not only one of the best regional exchanges in the GCC but also a great industry partner.”
He also mentioned, “The two exchanges will work in cooperation with each other to further the case of ethical capital growth in the region while keeping in line with the global best practices to achieve new milestones.”
The decision comes in light of the latest MSX transformation under the new leadership of its board and the executive management working strength to strength to take the Omani stock Exchange to the new heights of success.