Collaborative Arrangement Between Bursa Malaysia And Saudi Stock Exchange (Tadawul)

Bursa Malaysia and the Saudi Stock Exchange (Tadawul) recently entered into a Memorandum of Understanding (MoU) to formalise a collaboration to develop cross border activities between both exchanges in capital market development.

According to the MoU, the two Exchanges will set off collaborative discussions towards enhancing financial and economic linkages between Malaysia and Saudi Arabia in Islamic market which will enable both exchanges to share knowledge and expertise, opening the door for people development, and explore future opportunities.

The collaboration with Tadawul also expected to facilitate cross border development in the Islamic financial markets and to further strengthen our global presence which will create and provide an environment that will enable global industry players to take advantage of the innovation and expertise that emanate from Malaysia's Islamic finance marketplace.

This is a major step towards consolidation in the Islamic finance world. Malaysia and the Middle East are the leading centers of Islamic finance, and as both Exchanges come together on a single platform, this collaboration will add to the strength of this industry thus providing a new dimension to the Islamic market.

Additionally, the MoU collaboration is expected to provide greater internationalisation of the Islamic market and the integration of both markets.

The MoU signed by Dato’ Tajuddin Atan, Chief Executive Officer of Bursa Malaysia Berhad and Adel Saleh Al-Ghamdi, Chief Executive officer of the Saudi Stock Exchange.