Bahrain Bourse seals Turk exchange deal
Manama, September 25, 2012
Bahrain Bourse, one of the leading markets in the Gulf region, said it has signed a memorandum of understanding (MoU) with the Turkish stock exchange during the Istanbul Finance Summit.
The agreement with Istanbul Menkul Kõymetler Borsasõ (MKB) aims at strengthening relations between the two exchanges as well as offering new investment opportunities for participants of both markets.
"MKB attaches special importance to GCC countries and envisages that the region will play a key role in its future," said MKB chairman and chief executive Ibrahim M Turhan.
"We are, therefore, pleased to sign this MoU with Bahrain Bourse, one of the leading markets in the Gulf," he noted.
"I am confident that this MoU will pave the way for a stronger co-operation between the two exchanges in various areas of exchange business, including technology development, exchange of staff and offering common products for the investors of both sides," he added.
Bahrain Bourse director Fouad Rashid said the agreement solidifies the intentions of both bourses to co-operate together in various areas of mutual interest.
"The MoU also comes in line with our strategy to further develop our capital markets through collaboration with other leading bourses and sharing of knowledge, experience and practices. This is the beginning of a long and strong relationship between us," he added.-TradeArabia News Service