NASDAQ Dubai said on Tuesday it had signed a memorandum of understanding with Kazakhstan Stock Exchange; to discuss their cooperation and exchange of information about their markets.
To be mentioned the two Stock Markets will work together to develop initiatives designed to open up the prospect of cooperation between the capital markets in both Dubai and Almaty; including relations between the central depositories for securities, also would discuss how to cooperate to promote their products and solutions for Islamic capital markets.
"The statement added that a memorandum of understanding was signed in Dubai by both Hamed Ali - Chief Executive of NASDAQ Dubai, and Maksi Kabashev - CEO of the Stock Exchange of Kazakhstan, and Khiret Klembtov - Governor of the National Bank of Kazakhstan, which is the central bank in Kazakhstan.
Khiret Klembtov said: "Kazakhstan's relations with the United Arab Emirates have become increasingly important in a variety of sectors; including the economic and financial sectors, and extends to the social and cultural sectors. I think that the further cooperation between our two countries will increase cooperation between stock exchanges of Kazakhstan and Nasdaq Dubai."
Hamed Ali said "NASDAQ Dubai is looking to study a wide range of potential cooperation with Kazakhstan stock exchange projects for the benefit of the two exchanges and dealers in their markets; and because the international exchange is serving the region; we are committed to open new prospects for financial cooperation to promote cross-border economic growth and increase wealth."
Maksi Kabashev said: "Due to increase trade relations and investment flows between Kazakhstan and the United Arab Emirates, there are increased opportunities for cooperation between the two exchanges in a number of areas. We look forward to create links and new relationships to provide attractive options for investors, and facilitate the access of exporters to new sources of capital." .