The Saudi Stock Exchange “Tadawul” and the Japan Exchange Group, Inc. (JPX) signed a Memorandum of Understanding (MoU),on March 14, 2017, that will formalize and develop further cooperation between the two exchanges.
The memorandum signed by Eng. Khalid Alhussan, Chief Executive Officer of the Saudi Stock Exchange “Tadawul” and Mr. Akira Kiyota, Chief Executive Officer of Japan Exchange Group, aims to build a closer relationship through the enabling knowledge exchange in areas of mutual interest to better develop both markets.
Eng. Khalid Alhussan, CEO of Tadawul
Eng. Khalid Alhussan, CEO of Tadawul, said:
This MoU will provide a framework for understanding and cooperation between Tadawul and JPX. It will work to strengthen the relations between both exchanges to support the development of both capital markets. We see this as the beginning of a long and prosperous relationship that will without doubt open up new prospects and areas of future collaboration between both exchanges.
This memorandum comes in-line with Tadawul’s strategy of supporting Capital Market development. In addition, this initiative resonates with the Vision 2030, that calls for building an advanced capital market that is open to the world”, Eng. Al-Hussan added.
Mr. Akira Kiyota, CEO of Japan Exchange Group
Mr. Akira Kiyota, CEO of Japan Exchange Group, Inc. (JPX), commented:
Building on our close ties forged over many years, Japan and the Kingdom of Saudi Arabia are now progressing on various projects and strengthening our partnership even further. We are delighted to sign the MoU with Tadawul at this juncture and we believe that this will enhance cooperation between our capital markets and add a new dimension to collaboration between our two countries. We are amazed at how fast Tadawul has been implementing a series of market reforms to open its markets and enhance the market functions lately. I hope this MoU will lay the foundations for further market development in both JPX and Tadawul.