UAE’s ADX, Boursa Kuwait and Kuwait Clearing Company sign MoU to enhance market liquidity

UAE’s ADX, Boursa Kuwait and Kuwait Clearing Company sign MoU to enhance market liquidity

Abu Dhabi Securities Exchange (ADX), Boursa Kuwait (KPSC) and Kuwait Clearing Company (KSC) have signed a cooperation agreement to broaden investment opportunities through cross border trading and listings. Under the MoU, the parties have agreed to encourage and facilitate legislative, depository and trading collaboration, while also working to improve market literacy among investors in both markets. Hisham Khalid Malak, chairman of ADX, said: “The alliance between ADX, KPSC and KSC highlights the unique investment opportunities that are available to investors in both markets. The agreement will also deepen market liquidity and contribute to the long-term sustainable economic growth of both our countries.” Hamad Mashari Al Humaidhi, chairman of Boursa Kuwait, commented: “KPSC has been keen since its establishment to develop and improve the Kuwaiti capital market to create investment opportunities. Through this MoU, we look forward to strengthening our cooperation with the UAE, and attracting more local, regional and international investors to the Kuwaiti and Emirati financial markets. This will contribute to the prosperity of the economies of both countries.” Fahad Abdul Rahman Al-Mukhaizeem, chairman of KSC, said: “Despite the impact of the Covid-19 pandemic, the MoU is an important starting point for us to share our market experience and