ADX, ADGM sign deal to strengthen cooperation

ABU DHABI / WAM

Abu Dhabi Securities Market (ADX) and Abu Dhabi Global Market (ADGM) have entered into an agreement to foster bilateral cooperation.
Chairman of ADX, Hamad Abdullah Al Shamsi, and Chairman of ADGM, Ahmed Al Sayegh signed the memorandum of understanding (MoU) at ADGM Office in the presence of senior officials from both organisations.
The agreement supports ADX’s commitment to the growth of the financial services sector in the emirate of Abu Dhabi and the development of a sustainable financial environment under the auspices of Abu Dhabi
Vision 2030, a joint press release from the two organisations said.
The MoU establishes a framework that strengthens the bilateral cooperation between ADX and ADGM. It reinforces ADX’s ongoing efforts to collaborate with financial centres in the region and globally.
Through the MoU, ADX and ADGM can jointly explore and develop financial products and services that will further boost the economic growth and investment sector of Abu Dhabi.
Both entities will set up a working group to develop strategic objectives and cooperation initiatives. The MoU will also enable both organisations to work on key areas such as provision and exchange of expertise, financial markets assistance and cooperation, training and others.
Chairman, ADX, Hamad Abdullah Al Shamsi, said: “We look forward through this MoU to create new opportunities to promote further cooperation and synergy between the two markets and in various fields. We hope this agreement will contribute to strengthening the level of coordination between us which will benefit our joint activities and contribute to the economic growth in the Emirate of Abu Dhabi.”