Thursday March 9 2017

News Source: Global Exchanges

Focus: Other

Type: General




Nasdaq Dubai and Bourse de Tunis have signed a Memorandum of Understanding (MoU) to explore collaboration possibilities, including initiatives regarding existing and future issuers and listings on the two exchanges.

Ways to promote Islamic capital markets products and solutions will also be considered under the MoU, together with supporting potential links between central securities depositories in the respective jurisdictions.

Bourse de Tunis’ main objective is to serve the real economy, help financial market orientation of Tunisian companies and attract more foreign investor interest further to the enactment of an investment law enshrining the equality between foreign and domestic investors. Currently, eighty companies are listed with a market value of 9 billion dollars.

Nasdaq Dubai hosts a range of international and UAE equity listings, including Egypt’s Orascom Construction, and the exchange is the world’s largest venue for Sukuk listings at 45.06 billion US dollars. Africa Finance Corporation (AFC) utilised the exchange’s Murabaha Islamic financing platform to facilitate its issuance of a 150 million US dollar Sukuk in January 2017. Pursuing its remit to bring new asset classes to the region, Nasdaq Dubai opened an equity futures market in September 2016.

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