Rashed Al Baloushi, Acting Director General of Abu Dhabi Securities Market (ADSM), today called for further ties between the Singapore Exchange Limited (SGX) and Abu Dhabi Securities Market (ADSM).
Speaking to Mr Lim Hng Kiang, Singapore Minister of Trade & Industry, at the UAE Asia Investment Forum in Singapore, Mr Al Baloushi explained ADSM’s drive for further co-operation between the two exchanges:
“SGX is one of the most developed exchanges in the Far East”, said Mr Al Baloushi.
“We believe both our exchanges would benefit through greater co-operation. We would like to benefit from exchanging information, developing investor education and enhancing our regulatory frameworks”.
The Minister of Trade and Industry, Mr Lim Hng Kiang welcomed the initiatives and encouraged both ADSM and SGX to benefit from the potential future opportunities.
Mr Al Baloushi added “By reaching international audiences we aim at encouraging foreign direct investment in the UAE”.
“One of our aims in participating in such forums is to promote our market and attempt to diversify and increase the tradable securities in ADSM.
Diversity allows investors to spread their risks, contributing to long-term market stability and ultimately furthering economic growth in the UAE.”
Since the end of 2001 the number of listed companies on ADSM has grown fourfold; there are now nearly six times as many brokerage firms; market capitalisation is 20 times higher; there are 50 times as many shareholders registered and ADSM is a model emiratisation employer with UAE nationals making up about 74% of the team head count.
