Saudi Tadawul Group signs MoU with Shanghai Stock Exchange

PHOTO

Saudi Tadawul Group has announced the signing of a Memorandum of Understanding (MoU) with the Shanghai Stock Exchange to promote mutual development and cooperation between the two exchanges.

As part of the MoU, the two Exchanges will explore opportunities in Cross-listing, Fintech, ESG, data exchange, and research, as well as promote diversity and inclusion in both markets.

The MoU was signed by Eng Khalid Al Hussan, CEO of the Saudi Tadawul Group, and Cai Jianchun, President of the Shanghai Stock Exchange during the Shanghai Stock Exchange delegation’s visit to Saudi Arabia.

Knowledge sharing

The MoU will also facilitate knowledge sharing in listing family businesses and SMEs, dual-listings of ETFs, and Investor Relations initiatives, while developing the infrastructure of both capital markets.

Al Hussan said: “The MoU is an important step towards advancing the growth of the Saudi capital market and facilitate greater connectivity between Saudi Arabia and China. This is a testament to our shared commitment to promoting the development of capital markets, and we believe it will benefit issuers and investors in both countries."

Jianchun said: “We look forward to working closely with the Saudi Tadawul Group to advance ETF and other product cooperation and further strengthen the cooperation between China and Saudi Capital Market.”-- TradeArabia News Service