Al-Mansoori and Dinç with other QSE and Borsa Istanbul executives following the MoU signing.
The Qatar Stock Exchange (QSE) and the Borsa Istanbul have enhanced their co-operation through a memorandum of understanding (MoU) signed yesterday, which will “formalise co-operation” between the two markets.
The MoU was signed by Rashid bin Ali al-Mansoori, CEO of the QSE, and Tuncay Dinç, CEO, Borsa Istanbul in the presence of the Turkish delegation representing Borsa Istanbul.
Besides exchange of information and sharing of expertise, the MoU will seek to explore the opportunities of dual listing of securities to increase the competitiveness of both Borsa Istanbul and the QSE.
At the signing ceremony, al-Mansoori said, “I am delighted to see this MoU signed between the two exchanges, hoping that it will help enhance the economic co-operation between the two countries. The MoU clearly fits in a range of agreements that have been signed between Qatar and Turkey and it signals the willingness of the two countries to cooperate and develop this relation further. The signing ceremony today is just a beginning of further co-operation between the two exchanges. We will soon start the work that has to be done in order to implement the scopes of co-operation included in the MoU. I look forward to a long and mutually beneficial relationship between the QSE and Borsa Istanbul”.
Dinç thanked the QSE and said he was confident that the MoU would prove to be a useful instrument not only to further strengthen the level of co-operation between the two exchanges, but also to open new areas of business opportunities for the market participants both in Qatar and in Turkey.
Dinç said, “We are extremely happy to see the two exchanges taking efforts in the mutual co-operation between Turkey and Qatar. We are also very happy to see both parties share the same mindsets aiming to achieve a bright future. I am sure that this MoU will increase the level of co-operation between the two parties as we are hoping to establish a good atmosphere for investments and mutual co-operation. In future, both parties will meet together periodically as we have agreed on establishing working committees that will sit together every two months and both parties will meet together twice a year; once in Istanbul and once in Doha.”
The purpose of the MoU, the QSE said, was to establish and implement a procedure of mutual co-operation and agreement between the two exchanges, primarily for the purpose of facilitating the execution of functions assigned to them, exchange of information, proper dissemination of information and promotion of the integrity of the markets.
The MoU provides a framework of co-operation, which includes the existence of a channel of communication between the two exchanges, the increasing mutual recognition and the exchange of information of legal and technical content.
It also aims to develop opportunities to exchange information and expertise pertaining to their activities, markets and operations in order to establish a long-term relationship and contribute to improvement of their countries’ capital markets.
