By John Lee.
During an official visit to Abu Dhabi, Iraqi Securities Commission (ISC) President Faisal Al-Haimus met with Abdulla Salem Alnuaimi, CEO of Abu Dhabi Securities Exchange Group (ADX), to explore enhancing collaboration between the Iraqi Stock Exchange (ISX) and ADX.
Discussions focused on integrating ISX into the Tabadul Digital Exchange Hub, a cross-border trading platform launched by ADX in 2022.
Al-Haimus highlighted the initiative's potential to elevate ISX's regional role and support Iraq's investment growth plans, while Alnuaimi emphasized the importance of connectivity between financial markets to stimulate investments and share expertise.
Al-Haimus also attended the 2024 MEIRA Annual Conference in Abu Dhabi, which brought together over 800 delegates from 33 financial markets to address regional capital market challenges, AI's role in investor relations, and ESG integration into Islamic finance.
Full text of press release:
During an official visit to Abu Dhabi, His Excellency Mr. Faisal Al-Haimus, President of the Iraqi Securities Commission (ISC), met with Mr. Abdulla Salem Alnuaimi, Group Chief Executive Officer of the Abu Dhabi Securities Exchange Group (ADX), one of the world's fastest-growing exchanges. The meeting explored ways to bolster the cooperation between the ISC and ADX and enhancing the collaboration between the two exchanges, including formulating a joint cooperation agreement.
The meeting explored integrating the Iraq Stock Exchange (ISX) into the Tabadul Digital Exchange Hub, which was launched by ADX in 2022. The platform is the first digital exchange that enables cross-border trading and investment opportunities and currently includes eight exchanges. His Excellency Al-Haimus emphasized the importance of this cooperation in enhancing the role of the ISX at the regional level, as well as advancing Iraq's development plans for its investment landscape.
Mr. Abdulla Salem Alnuaimi expressed ADX's readiness to support this initiative and noted that the cooperation with the ISC will foster knowledge and expertise sharing between the two regional financial markets and that it will strengthen the role of the financial markets in economic development.
Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said:
"At the Abu Dhabi Securities Exchange, we believe in the power of connectivity between financial markets, and we look forward to achieving a successful outcome with the ISC while driving financial market development and stimulating investments in the region."
His Excellency Al-Haimus attended the Middle East Investor Relations Association (MEIRA) Annual Conference 2024, which was held in the UAE capital of Abu Dhabi, in partnership with ADX. The conference was attended by more than 800 delegates, including representatives of 150 issuers from the Gulf countries and the wider Middle East, representatives from 33 financial markets, and over 150 participants representing local and global financial institutions. The conference provided a unique platform for exchanging insights and ideas amongst more than 80 experts from around the world, who addressed capital markets challenges, ways of maintaining the growth trajectory of GCC markets, AI's impact on investor relations, as well as the integration of environmental, social, and governance (ESG) criteria into Islamic finance.
This joint cooperation between the ISC and ADX reflects Iraq's commitment to developing the investment landscape and enhancing the role of the capital markets in supporting regional economic growth.
(Sources: ISX, ADX)
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