UAE, Israel sign mutual agreement on securities
The United Arab Emirates' (UAE) Abu Dhabi Securities Exchange (ADX) and Israel's Tel Aviv Stock Exchange (TASE) signed an agreement to explore potential opportunities for collaboration and cross-listing of securities, UAE's official WAM news agency reported, Trend reports citing Xinhua.
The MoU was signed at a virtual signing ceremony on Wednesday.
The MoU will facilitate the development of channels of communication to foster co-operation between the two exchanges and contribute to the growth of the capital markets in the UAE and Israel.
It was the first time an Arab exchange has entered into a commercial relationship with the state of Israel, WAM noted.
The UAE and Israel agreed to formally normalize their relations in mid-August and signed the Abraham Accord on September 15.