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The 3rd Working Committee meeting of the Organization of the Islamic Conference (OIC) Member States’ Stock Exchanges Forum, initiated in 2005 with a decision taken in line with the request made by the OIC for launching a framework of cooperation among the OIC stock exchanges, is held in Abu Dhabi, United Arab Emirates, on April 27-28, 2010. The event is dedicated this year to discuss the Islamic financial instruments tradable on exchanges, the creation of OIC indexes and awareness and investor education about Islamic financial markets.
The representatives of International Islamic Financial Market (IIFM) contributed to the meeting with their presentations. In addition, the representatives of FTSE, MSCI Barra & Standard and Poor's participated to the meeting.
During the meeting, Mr. Hüseyin ERKAN, the ISE Chairman & CEO, and Mr. Rashed AL BALOUSHI, Abu Dhabi Securities Exchange (ADX) Deputy Chief Executive, signed a Memorandum of Understanding (MoU) envisaging the two parties to cooperate with each other to facilitate the development of channels of communication and to foster a continuing relationship between the two parties for the benefit of both securities markets. Within the framework of the MoU, the parties intend to enhance understanding of developments in each market, and to establish a long term and sustained cooperation. The ISE Settlement and Custody Bank (Takasbank) also signed a similar agreement with the ADX.
