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With the participation of the Heads of Arab Stock Exchanges and in presence of a number of officials and experts from international stock markets, the 2011 Annual Conference of the Arab Federation of Exchanges (AFE) today opened its two-day sessions in Abu Dhabi.
In a speech given in the opening session of the conference, Dr. Hussein Ali Al-Abdullah, Chairman of the AFE's current session and the Chairman of Qatar Exchange Board of Directors, called the members to work together in order to provide a better environment for more integration and investment opportunities through partnership based on cooperation and the exchange of ideas and experiences.
He stressed on the importance of fostering the common work efforts between Arab exchanges on the grounds that the exchange of ideas and experiences is a vital necessity in light of the current international developments dominated by powerful blocs and regional unstable conditions.
Dr. Al-Abdullah also stressed on the importance of launching the S&P AFE Index for the Arab Federation of Exchanges as it is a tool designed to shed more light on the Arab markets as they comprise a significant number of emerging and promising stock markets that are attractive to liquidity and investment.
The conference, during which the launching of S&P AFE Index was announced, included a number of sessions, which tackled several issues that are important to the Arab exchanges such as the integration between the GCC markets, developing the regional role of Arab brokerage firms, management of Arab exchanges in the times of crises and the role of Arab exchanges in the national and regional economies.
Mr. Rashid bin Ali Al Mansoori, Deputy CEO of Qatar Exchange, participated in the sessions on integration between the GCC markets and hoped that the conference will succeed in strengthening the ties between the Gulf and Arab markets, which are devoted to their role in promoting the steady development in their countries and enhance their ability to attract more of investments.
It is worth mentioning that a memorandum of understanding MOU for mutual cooperation was signed during the conference between the Arab Federation of Exchanges (AFE) and the Federation of Euro-Asian Stock Exchanges (FEAS). The MOU was signed by Dr. Hussein Al-Abdullah, chairman of the AFE's current session, on behalf of the Arab Federation of Exchanges and Mr. Huseyin Erkan, chairman and CEO of Istanbul Stock Exchange and President of the FEAS.
