Saudi Tadawul Signs MoUs with Stock Exchanges of Egypt, Singapore, and Qatar

The Saudi Tadawul announced the signing of memorandums of understanding (MoUs) with the stock exchanges of Egypt,  Singapore, and Qatar during the Saudi Stock Market Forum 2023; to enable simultaneous dual listing operations with the aim of enhancing joint cooperation between these countries.

This came on Sunday during the Saudi Capital Market (SCM) Forum 2023 in Saudi Arabia.

The most prominent stations of the forum's agenda are the signing of a series of strategic agreements with a number of regional and global financial markets with the aim of supporting efforts to develop an advanced and integrated infrastructure for the Saudi financial market, in addition to supporting innovation across various global financial markets.

According to the statement, the MoUs focus on exchanging data, knowledge and cooperation in the areas of environmental and social practices, corporate governance and financial technology.

Khalid Al-Hussan, CEO of the Saudi Tadawul Group said: “We seek to cooperate with regional and international financial markets in areas including dual and simultaneous listings, environmental and social practices, corporate governance, financial technology, and diversity and inclusion in order to achieve our goal of establishing the Kingdom’s position as a leading investment destination linking East and West."

Al-Hussan continued: These agreements will contribute to strengthening the efforts of the Tadawul Group to develop an advanced, diversified and integrated financial market that provides rewarding opportunities for regional and international investors, in line with the objectives of the financial sector development program within Saudi Vision 2030.

The Saudi Financial Market Forum brings together more than 2,000 exporters, investors and other market participants over two days full of fruitful dialogues and discussions aimed at advancing the Saudi financial market.

The forum is considered one of the most important major events for exporters and investors at the regional and global levels.

The "Saudi Tadawul" had announced on February 6 that it had signed dual listing agreements with 4 stock exchanges, namely the Abu Dhabi Stock Exchange, Kuwait Stock Exchange, Muscat and Hong Kong.