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Iraq and Egypt sign a cooperation protocol to enhance joint work in the financial field
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[rtl]Baghdad / NINA / The Chairman of the Board of Governors of the Iraq Stock Exchange, Adnan Hashim, signed today, Monday, with the Chairman of the Board of Directors of the Egyptian Stock Exchange, Ahmed Al-Sheikh, a cooperation protocol to enhance joint work between the two countries.
A statement said that "the Chairman of the Board of Governors of the Iraq Stock Exchange, Adnan Hashim, and the Chairman of the Board of Directors of the Egyptian Stock Exchange, Ahmed Al-Sheikh, signed a cooperation protocol between the stock exchanges of the two countries to enhance joint work, in the presence of the Chairman of the Iraqi Securities Commission, Faisal Al-Haimus, and the Vice Chairman of the Egyptian Stock Exchange, Hiba Al-Sayrafi."
The statement added that "the aim of this step is to strengthen the bonds of cooperation and raise the level of coordination between the two parties, increase the prospects for joint work and exchange of expertise and information in all aspects of investment and develop existing legislative procedures for both, in addition to working to increase investment awareness and attract mutual investments between the two countries and direct savings towards investment in securities, as well as support the transition to the digital economy to increase the competitive capabilities of both stock exchanges."
The Chairman of the Iraqi Securities Commission, Faisal Al-Haimus, said: “Signing this protocol represents a vital step towards deepening cooperation between the Iraqi and Egyptian stock markets, which reflects our shared keenness to strengthen economic relations between the two countries.”
He explained that “this agreement aims not only to exchange expertise and information, but also seeks to develop the infrastructure of the financial markets in both countries by adopting the latest technologies and applying the best international practices.”
Al-Haimus added: “We realize that financial markets represent the cornerstone of developing the national economy, and therefore strengthening the partnership between the two markets will directly contribute to achieving sustainable economic growth and attracting foreign investments.”
He continued, “We believe that this protocol will open new horizons for cooperation in various fields, such as financial innovation and the development of new financial products, which will help enhance the competitiveness of both markets.”
Al-Haimus stressed “the Securities Commission’s commitment to providing full support to make this cooperation a success,” noting that “the Commission will work to provide the appropriate regulatory environment to effectively implement the provisions of the protocol.”
He expressed his confidence that "this cooperation will enhance the efficiency of the two markets, increase levels of transparency and disclosure, which will enhance investor confidence and contribute to achieving the goals of joint economic development."
For his part, Chairman of the Board of Governors of the Iraq Stock Exchange (Iraqi Stock Exchange), Thaer Adnan Hashim, said: "The signing of this protocol, which was sponsored by the Chairman of the Securities Commission Faisal Al-Haimus, is an important step towards enhancing joint cooperation between Iraq and Egypt in the field of securities markets."
He continued, "This agreement aims to exchange expertise and information between the two markets, especially with regard to updating the legislation, regulations and procedures related to securities trading."
Hashim explained that "this protocol is an opportunity to develop the infrastructure of the financial markets, increase investment awareness and attract mutual investments between the two countries."
He continued, "We will work to support the transition to the digital economy, enhance the competitive capabilities of both stock exchanges, and encourage capacity building and training between brokerage firms and listed companies."
In turn, the Chairman of the Egyptian Stock Exchange, Ahmed El Sheikh, said: "The protocol aims to develop joint cooperation between the two parties and exchange expertise and information regarding updating legislation, regulations, procedures, work programs and methodologies related to securities trading, as well as exchanging periodic and annual bulletins issued by both stock exchanges, as well as exchanging periodic information related to companies registered and traded in the two markets."
He added: "We are working to provide the basic information that investors in both countries need to increase mutual investments in the two stock markets."
He continued by saying: "The two parties will discuss mechanisms to support and diversify the financial products available to investors and increase liquidity in both markets."
He pointed out that "the two parties will work to encourage capacity building and training between brokerage firms and companies listed on the two stock exchanges in a way that serves the goals of spreading awareness and exchanging expertise."
El Sheikh explained that "signing this protocol comes within the framework of implementing Article (58) of the Egyptian Stock Exchange's development strategy, which falls under the sixth axis related to (promoting and spreading financial culture, training and international relations)." / End of p[/rtl]
A statement said that "the Chairman of the Board of Governors of the Iraq Stock Exchange, Adnan Hashim, and the Chairman of the Board of Directors of the Egyptian Stock Exchange, Ahmed Al-Sheikh, signed a cooperation protocol between the stock exchanges of the two countries to enhance joint work, in the presence of the Chairman of the Iraqi Securities Commission, Faisal Al-Haimus, and the Vice Chairman of the Egyptian Stock Exchange, Hiba Al-Sayrafi."
The statement added that "the aim of this step is to strengthen the bonds of cooperation and raise the level of coordination between the two parties, increase the prospects for joint work and exchange of expertise and information in all aspects of investment and develop existing legislative procedures for both, in addition to working to increase investment awareness and attract mutual investments between the two countries and direct savings towards investment in securities, as well as support the transition to the digital economy to increase the competitive capabilities of both stock exchanges."
The Chairman of the Iraqi Securities Commission, Faisal Al-Haimus, said: “Signing this protocol represents a vital step towards deepening cooperation between the Iraqi and Egyptian stock markets, which reflects our shared keenness to strengthen economic relations between the two countries.”
He explained that “this agreement aims not only to exchange expertise and information, but also seeks to develop the infrastructure of the financial markets in both countries by adopting the latest technologies and applying the best international practices.”
Al-Haimus added: “We realize that financial markets represent the cornerstone of developing the national economy, and therefore strengthening the partnership between the two markets will directly contribute to achieving sustainable economic growth and attracting foreign investments.”
He continued, “We believe that this protocol will open new horizons for cooperation in various fields, such as financial innovation and the development of new financial products, which will help enhance the competitiveness of both markets.”
Al-Haimus stressed “the Securities Commission’s commitment to providing full support to make this cooperation a success,” noting that “the Commission will work to provide the appropriate regulatory environment to effectively implement the provisions of the protocol.”
He expressed his confidence that "this cooperation will enhance the efficiency of the two markets, increase levels of transparency and disclosure, which will enhance investor confidence and contribute to achieving the goals of joint economic development."
For his part, Chairman of the Board of Governors of the Iraq Stock Exchange (Iraqi Stock Exchange), Thaer Adnan Hashim, said: "The signing of this protocol, which was sponsored by the Chairman of the Securities Commission Faisal Al-Haimus, is an important step towards enhancing joint cooperation between Iraq and Egypt in the field of securities markets."
He continued, "This agreement aims to exchange expertise and information between the two markets, especially with regard to updating the legislation, regulations and procedures related to securities trading."
Hashim explained that "this protocol is an opportunity to develop the infrastructure of the financial markets, increase investment awareness and attract mutual investments between the two countries."
He continued, "We will work to support the transition to the digital economy, enhance the competitive capabilities of both stock exchanges, and encourage capacity building and training between brokerage firms and listed companies."
In turn, the Chairman of the Egyptian Stock Exchange, Ahmed El Sheikh, said: "The protocol aims to develop joint cooperation between the two parties and exchange expertise and information regarding updating legislation, regulations, procedures, work programs and methodologies related to securities trading, as well as exchanging periodic and annual bulletins issued by both stock exchanges, as well as exchanging periodic information related to companies registered and traded in the two markets."
He added: "We are working to provide the basic information that investors in both countries need to increase mutual investments in the two stock markets."
He continued by saying: "The two parties will discuss mechanisms to support and diversify the financial products available to investors and increase liquidity in both markets."
He pointed out that "the two parties will work to encourage capacity building and training between brokerage firms and companies listed on the two stock exchanges in a way that serves the goals of spreading awareness and exchanging expertise."
El Sheikh explained that "signing this protocol comes within the framework of implementing Article (58) of the Egyptian Stock Exchange's development strategy, which falls under the sixth axis related to (promoting and spreading financial culture, training and international relations)." / End of p[/rtl]
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