KARACHI, Feb 19: A memorandum of understanding has been signed between the Karachi Stock Exchange (KSE) and the Abu Dhabi Securities Market (ADSM) to develop and strengthen activities of capital markets in the region.

The MoU was signed by Adnan Afridi, managing director of KSE and Tom Healy, director-general Abu Dhabi Securities Markets in the presence of Dr S Qaiser Anis, President, Business Council, on Feb 17 in Abu Dhabi.

The objective is to strengthen and increase cooperation between the two institutions in all areas relating to exchange of expertise and information.

It will also work on increasing awareness among investors of both the countries on legal framework and investment opportunities available in both the bourses.

It may also encourage listed companies in both the stock markets to cross-list their securities and their derivative products, such as index futures and depository receipts.

The MoU shall encourage both the parties to jointly organise training programmes and enhance relations and cooperation between market participants operating on both stock exchanges.

This agreement promotes interests of issuers, brokers and investors as well as of both exchanges.

The KSE and the ADSM will seek additional avenues of mutual interest in discussions in the coming months.—PPI