Riyadh: The Qatar Stock Exchange (QSE) signed on Sunday a Memorandum of Understanding (MoU) with the Saudi Tadawul Group with the goal of strengthening their partnership and establishing a foundation for cooperation between the two parties.

The MoU was signed by Abdul Aziz Nasser Al Emadi, the Acting CEO of the Qatar Stock Exchange, and Eng. Khalid Al Hussan, the CEO of the Saudi Tadawul Group.

According to the MoU, which was signed on the sidelines of the Saudi Capital Market Forum held in Riyadh, the two parties agreed to cooperate in a number of areas of interest, such as the mechanisms applied to enhance market operations, and the exchange of information and expertise related to investment products and services available in the financial markets, in addition to preparing joint research to promote investment opportunities and enhance the capacity of their respective markets.

Abdul Aziz Nasser Al Emadi, Acting CEO of the Qatar Stock Exchange, expressed his delight at the signing of the MoU between the capital markets of Qatar and Saudi Arabia and emphasized that it serves as a testament to the long-term partnership, which is aimed at fostering market growth and enhancing the local and regional investment climate.

With global capital markets evolving, it is moreover important for GCC markets to work together to exchange information and align on best practices to elevate our capital markets and enhance the experience for issuers and investors alike. This agreement signals the beginning of an even greater collaboration between our markets, and we look forward to exploring many future areas of cooperation, Al Emadi added.

Since its inception, the QSE has worked diligently to create a thriving and transparent capital market equipped with advanced infrastructure and cutting-edge trading platform. The QSE has worked closely with the Qatar Financial Markets Authority to implement comprehensive reforms and enhancements, which have propelled Qatar's capital market to the forefront of regional and international markets. Furthermore, the QSE has taken a key role in introducing a diversified range of products and services to attract both local and foreign investors.