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UAE stock change figures in Cairo, Egypt

Heads and representatives of stock exchanges, including the Abu Dhabi Securities Exchange, Arab depository and clearing companies, as well as representatives of a group of brokerage firms and financial experts, attended a series of meetings of the Arab Federation of Exchanges, AFE, in Cairo, Egypt.

Khalifa Salem Al Mansouri, Acting Chief Executive of the Abu Dhabi Securities Exchange, ADX, along with his delegation also attended these meetings.

Discussed at the meetings were the ways to develop the Arab financial markets in terms of global best practices in disclosure, transparency and governance. The discussions also focused on knowledge exchange to improve the investment environment and trading in Arab stock exchanges, including the use of financial technology and Artificial Intelligence in the capital markets. The future of small and medium enterprises was discussed as a means of attracting more foreign investments in the member exchanges.

Stressing the importance of coordination and cooperation between Arab stock exchanges and a unified vision and aligned objectives for the Arab financial markets, Al Mansouri said, “The Arab Federation of Exchanges provides an effective platform for the exchange of knowledge and expertise in a dynamic environment. This allows AFE members to improve the performance of their financial markets by developing regulations and laws that draw upon best practices within the region. It further provides a great networking opportunity for member exchanges.”

Al Mansouri was honoured during the meeting in his capacity as the former chairman of the 43rd session of Arab Federation of Exchanges, AFE, which was held in Abu Dhabi in September of 2018 and hosted by the ADX.

On the sidelines of the visit, Al Mansouri met with Mohamed Farid, Chairman of the Egyptian Exchange, EGX, and senior officials, and discussed several important issues of mutual interest, including the importance of sustainable financing and investments in order to achieve long-term growth objectives of the region’s economy.

Al Mansouri said the ADX was keen to open channels of communication and cooperation with various Arab financial markets, as the financial stability of the region reflects positively on the performance of financial markets and contributes to the successful implementation of its growth strategies.

During its visit to Egypt, the ADX officials also met those from a group of listed companies to highlight the various opportunities and advantages offered by dual listing on the ADX.

Source: WAM

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