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ABU DHABI / TEL AVIV / WAM
Abu Dhabi Securities Exchange (ADX) and the Tel Aviv Stock Exchange (TASE) on Wednesday signed a Memorandum of Understanding (MoU), the first time an Arab exchange has entered into a commercial relationship with the state of Israel.
The MoU will facilitate the development of channels of communication to foster co-operation between the two exchanges and contribute to the growth of the capital markets in the UAE and Israel.
The MoU was signed by Mohamed Ali Al Shorafa Al Hammadi, Chairman of ADX, and Amnon Neubach, Chairman of TASE, at a virtual signing ceremony. The MoU comes after the signing of the peace agreement between the two countries. This MoU forms an important part of the UAE’s efforts to expand diplomatic and commercial co-operation with Israel, by laying out a road map towards developing bilateral relations through the stimulation of economic growth and the promotion of technological innovation.