Shaikh Khalifa bin Ebrahim Al-Khalifa, Chief Executive Officer of Bahrain Bourse affirmed the importance of continuing to enhance the cooperation between the Kingdom of Bahrain and Sultanate of Oman in various areas to explore new and promising opportunities by enhancing the economic integration between the two countries, in line with the keenness of both countries to strengthen bilateral relations in order to further develop the economy under the leadership of His Majesty King Hamad bin Isa Al Khalifa and His Majesty Sultan Haitham bin Tarik of Oman to the Kingdom of Bahrain.
This came following the signing of an MoU by Shaikh Khalifa bin Ebrahim Al-Khalifa, Chief Executive Officer of Bahrain Bourse and Mr. Haitham Al Salmi, Chief Executive Officer of Muscat Stock Exchange. The MoU aims at enhancing cooperation between Bahrain Bourse and Muscat Stock Exchange and benefitting from the exchange of experience, on the sidelines of the official visit of His Majesty Sultan Haitham bin Tarik of Oman to the Kingdom of Bahrain.
In addition, a cooperation agreement was signed between Bahrain Bourse and Muscat Stock Exchange, in which Muscat Stock Exchange will join “Tabadul” platform to link both markets and enable direct trading on Bahrain Bourse and Muscat Stock Exchange. The agreement aims to achieve synergies, enhance market liquidity and promote innovative products and services as well as facilitate trading of investors in both markets and support sustainable growth.
Commenting on the agreement, Shaikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse, “The signing of the agreement with Muscat Stock Exchange is in accordance with the GCC countries' collaborative efforts to strengthen the relationship between institutions and systems to strengthen collaborative efforts across GCC capital markets and comes in line with bolstering the goals and objectives set towards the Financial Services Sector Development Strategy 2022-2026 in terms of strengthening GCC linkages.”
“The agreement will pave the way for stronger cooperation between both exchanges, and enhance connectivity of regional capital markets through the ‘Tabadul’ platform, and serves to meet the broadened horizons of capital market operators across the region. We look forward to continuing working with our partners Abu Dhabi Securities Exchange and Muscat Securities Exchange to further enhance and broaden the market offering of Tabadul as we continue to enhance our mutual market connectivity and onboard other exchanges as well,” Shaikh Khalifa added.
Mr. Haitham bin Salim Al-Salmi, CEO of Muscat Stock Exchange (MSX), said: Such agreements embody the cooperation between the two institutions in the two brotherly countries, and this agreement is an extension of the distinguished relations that link the securities sector in both countries.
Al-Salmi explained that the signing of those agreements between the two markets seek to enhance investment opportunities in both markets, and the joining of MSX to “Tabadul” along with Bahrain Bourse is an important step to enhance liquidity and offer various products and services, and will also facilitate and develop trading mechanisms in both markets. This will allow investors in both markets to invest and trade easily which will support the development of both markets and achieve mutual benefits to support the economy in both countries.
“Tabadul” was launched in July 2022 as part of the strategic collaboration signed between Bahrain Bourse and Abu Dhabi Securities Exchange (ADX) to implement a cross-border plan in trading and post trading environments. The platform allows investments at Bahrain Bourse and ADX, and now Muscat Stock Exchange to enable investors to trade directly on both exchanges through licensed brokers in both markets.
“Tabadul” is the region’s first digital exchange hub, offering a comprehensive platform that allows investors to trade directly through licensed brokers on both markets, according to the laws and regulations applied in each market.