Dubai Financial Market received last week a high-level delegation from Bahrain Stock Market headed by Abdullah Jaafar Abedeen, Head of settlement and central depository. The discussions highlighted ways to enhance cooperation between the two exchanges.
The visit encompassed a brief on Dubai Financial Market’s operations, trading system, clearing and settlement systems and listing procedures in addition to a tour through the various departments of DFM.
Commenting on the results of the discussions Senior Vice President Central Depository Department and Chief Operation Officer of DFM, Maryam Fikri said:“The aim of the three day visit, was to particularly acquire an in-depth understanding about the clearing , settlement and depository and the means by which it is run at DFM, as well as sharing the expertise of both markets. Moreover the discussion also encompassed topics such as : the procedures for central registering, public shareholding companies records management, transactions settlement, shares backed finance, and the services available to investors, brokers and listed companies."
Mrs. Fikri Added: “We at Dubai Financial Market have a great relationship with Bahrain Stock market, and both sides are keen to enhance exchanges by sharing their expertise. The two parties agreed to continue cooperation and coordination, and we look forward to new opportunities for cooperation in the future and to encouraging dual listings.”
Dubai Financial Market’s memorandum of understanding with the Bahrain Stock market in March 24th, 2008 covered many areas including strengthening cooperation between the two markets, (the exchange of expertise and information, take all the needed steps to increase the awareness amongnst concerned parties about regulatory frameworks, as well as investment opportunities available).The MOU also covered the regular exchange of information, establishment of joint training courses, as well as brokers cooperation.
