As part of consolidating the economic relations between Egypt and Bahrain, The Egyptian Exchange (EGX) signed today a cooperation agreement with Bahrain Stock Exchange in order to facilitate the dual-listing between the two exchanges as well as to cooperate in strengthening the technological infrastructure and informatics of Bahrain Exchange, thus to facilitate the investments’ flow between the two countries.
The Memorandum of Understanding was signed by Bahrain Exchange’ representative, Sheikh/ Ibrahim Bin Khalifa Al Khalifa, the executive director of Bahrain Exchange. It was witnessed by H.E. Mr. Zayed Bin Rashid Al Zayani, Bahraini minister of Industry, Trade and Tourism. Signing the MoU was followed by ringing the bell for the trading session’ opening to celebrate the agreement and the joint cooperation between the two exchanges.
From his part, Dr. Mohammad Omran, EGX’ Chairman said that the agreement is an important step towards deepening EGX’ relations with the Arab markets, specially with regard to dual listing, where it focuses on attracting regional companies to list in order to deepen the market and to emphasize the Egyptian’ leadership as a pioneer market in the region.
He stated that the 2 exchanges will also cooperate in the field of strengthening the technological infrastructure and information depending on the expertise possessed by Egypt for Information Dissemination (EGID) company initially owned by EGX and working in the field of capital market’ systems either for the market organizing entity or for the other related parties.
Sheikh Khalifa bin Ibrahim Al Khalifa, confirmed that this agreement will enhance cooperation level between the two exchanges, it is hoped to have a positive impact on strengthening relations between all capital sector components in the two countries, stressing that this agreement would open the way to develop many investment opportunities for investors, hoping that the excellent relations between the two markets will continue.
Sheikh Khalifa hoped that signing this MoU could be practically reflected on investments and investors in the stock market so that we could witness the listing of Bahraini’ companies in the Egyptian Exchange and the listing of Egyptian companies in Bahrain Exchange, to find common interests in order to strengthen the relationship between the main components of the capital’ sector in the two countries.
Sheikh Khalifa expressed his appreciation for EGX Chairman’s efforts to sign this MoU.
