The Saudi Tadawul Group announced today the signing of a memorandum of understanding with the Shanghai Stock Exchange with the aim of enhancing opportunities for joint cooperation and development efforts between the two parties, during an official visit of a delegation from the Shanghai Stock Exchange to Saudi Arabia.
The memorandum of understanding was signed by Engineer Khaled Al-Hussan, CEO of Saudi Tadawul Group; Cai Jianchen, President of the Shanghai Stock Exchange, during the visit of a high-level delegation from the Shanghai Stock Exchange to Saudi Arabia.
The MoU includes exploring cooperation opportunities in the areas of dual listing, financial technology, environmental and social practices, corporate governance, and data and research.
The MoU also extends to exchanging experiences in the field of listing family businesses and SMEs, dual listing of exchange-traded funds, investor relations initiatives, and infrastructure development.
Khaled Al-Hussan said: “The memorandum of understanding with the Shanghai Stock Exchange represents another important step in the framework of our efforts to enhance the growth of the Saudi financial market and facilitate communication channels between the financial markets in the two countries. It also reflects the commitment of both parties to enhancing the progress of the financial markets, and we are fully confident that it will bring additional value to companies and investors.”