The Bahraini Stock Exchange and the Abu Dhabi Securities Exchange have announced the launch of the first of its kind “Tadawul” platform in the region to provide direct access to the markets. The platform was launched in both Abu Dhabi at the same time. Securities Exchange and the Bahraini Stock Exchange ADX His Excellency Mr. Zayed bin Rashid Al Zayani, Minister of Industry and Trade and Minister responsible for the Bahrain Scholarship in the Kingdom of Bahrain, and His Excellency Mr. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, and each of the members of the Board of Directors and Executive of the Bahrain Stock Exchange and Abu Dhabi Securities Exchange.
The launch of the exchange is based on the Strategic Partnership Agreement signed in November 2021 by the Abu Dhabi Securities Exchange and Bahrain Stock Exchange; To improve aspects of cooperation between the two parties and bring about a qualitative shift aimed at improving liquidity in the two markets, including market trading. The “Tadawul” platform provides an integrated system aimed at providing a trading network between regional and international stock exchanges. The platform enables investments outside the borders between the Bahrain Stock Exchange and the Abu Dhabi Securities Exchange, in addition to enable direct trading. by licensed brokers in both markets.
His Excellency Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy of the Kingdom of Bahrain, delivered a welcoming speech at the beginning of the ceremony in which he said: “Financial institutions play a key role in promoting the wheel of economic development, and today we are witnessing a special event that is the fruit of the strategic partnership between the Kingdom of Bahrain and the United Arab Emirates. ” The sister United States, which embodies the care and attention of His Majesty King Hamad bin Isa Al Khalifa, King of the Great Land, and his brother, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the sister United Arab Emirates, may God protect them, to develop the joint investment environment between the two fraternal countries through the constant striving to create paths Renewed cooperation with various financial and investment institutions.
His Excellency Hisham Malak, Chairman of the Board of the Abu Dhabi Securities Exchange, said: “In view of the data and achievements made by the countries of the Cooperation Council in all areas, especially in the economic field, in which the importance of the integration of financial markets, which plays an important role in promoting the process of economic growth in the GCC countries The launch of the “Tadawul” platform, a joint initiative between the Abu Dhabi Securities Exchange in cooperation with the Bahrain Stock Exchange, which seeks to link the capital markets in the region to ensure the liquidity of financial markets and create sustainable investment opportunities, to shed light on the crucial role that these markets play in regional growth. .
The launch of this platform comes within the wise vision to lead the two countries to accelerate economic growth and strengthen the financial services sector. The launch of the “Tabadul” platform also reflects the commitment of the Emirate of Abu Dhabi to strengthen economic relations with the countries of the region, in a new step towards strengthening the ongoing cooperation between the UAE and the sister kingdom of Bahrain to achieve more economic prosperity for both countries. ”
Saeed Hamad Al Dhaheri, Managing Director and CEO of Abu Dhabi Securities Exchange, said: “Expanding the scope of regional partnerships is a key objective of ADX One’s strategy, which seeks to increase liquidity, improve market efficiency and sustainable growth. to drive in the market. .
The launch of the Tadawul platform is a testament to our commitment to this strategy and that it is the preferred market for investors and issuers. The exchange platform will improve regional relations and exchanges, and increase investment opportunities for investors and issuers. We look forward to working closely with our partners at Bahrain Stock Exchange to improve our offering and bring more capital markets to the platform, enabling the growth of capital markets in the region and supporting the economic diversification of the GCC countries. ”
In turn, the CEO of Bahrain Stock Exchange and Managing Director of Bahrain Clear, Sheikh Khalifa bin Ibrahim Al Khalifa, said: “The launch of the ‘Tadawul’ platform is a highlight of the efforts of Bahrain Stock Exchange and Abu Dhabi Securities Exchange during over the past eight months, reflecting the Bahrain Stock Exchange’s commitment to enhancing cooperation is market. ”
Sheikh Khalifa added: “The launch of the” Tadawul “platform is a qualitative achievement in the local capital markets, as the” Tadawul “platform will provide benefits to both parties (Abu Dhabi Securities Exchange and Bahrain Stock Exchange), which sustained growth in both markets by expanding the Concerned Investors base, and helping to meet the ambitious aspirations of investors, and we look forward to continuing to work with our partners in the Abu Dhabi Stock Exchange to further enhance and expand the services provided by the “Tadawul” platform as we continue to improve our joint engagement with the market. “
The “Tadawul” platform will be available to all investors who have registered with approved local brokers and have completed “know your client” procedures at the local stock exchange in their country of residence. Securities are traded on the “Tadawul” platform in the local currency of the relevant stock exchange, and in some cases securities are traded in the currency specified for the traded assets, and there is no minimum trading order, but investors must stock exchanges during the specified trading days and hours Public holidays in the capital markets and trading hours for trading securities specified in both markets.