The Astana International Exchange (AIX, the Exchange) and the Saudi Exchange signed a Memorandum of Understanding (MOU) and agreed to establish cooperation in mutually beneficial areas. Under the agreement, both parties will facilitate the exchange of data and research in FinTech, explore the collaboration in the development of the sustainability and environmental, social, and corporate governance (ESG) fields, and share ideas on educational, IR, exchange products and other matters.
Renat Bekturov, CEO of AIX, said:
“AIX continues to develop collaborations with overseas partners to create an integrated capital market, and we are very pleased to establish a closer relationship with the largest exchange in the Middle East, as well as to explore opportunities that will help both parties to bring more value to our partners and customers.”
Mohammed Sulaiman Al-Rumaih, CEO of Saudi Exchange, noted:
“We are pleased to enter an agreement with the Astana International Exchange, in line with our commitment to create a technologically advanced and diverse capital market, according to the directives of Saudi Arabia Vision 2030’s Financial Sector Development Program. As the gateway to the MENA region for international investors, we continue to work with partners across the world to share information and enable access to the largest capital market in the MENA region.”
Reference:
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai stock exchange, the silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. More details:www.aix.kz
The Astana International Financial Centre The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. https://aifc.kz/
The Saudi Exchange is a fully owned subsidiary of Saudi Tadawul Group and was established in March 2021 following the transformation of the Saudi Stock Exchange (Tadawul) into a holding company, Saudi Tadawul Group. As Saudi Arabia’s dedicated stock exchange and the largest stock exchange in the Middle East, the Saudi Exchange carries out listing and trading in securities for local and international investors. The Saudi Exchange is one of the largest stock exchanges among the 67 members of the World Federation of Exchanges ,the dominant market in the Gulf Cooperation Council (GCC), and the 3rd largest stock market amongst its emerging market peers. https://www.saudiexchange.sa/wps/portal/tadawul/home?locale=en