Shaikh Salman bin Hamad Al Khalifa Crown Prince and Chairman of the Economic Board (EDB) visited Singapore Exchange Limited (SGX) as a part of his official visit to Singapore. He met Mr J Y Pillay, Chairman of SGX who welcomed Shaikh Salman and briefed him on the activities and trading of Singapore Exchange and also discussed with him several economic issues relating to the stock market conditions in Asia and other countries in the world.
In the presence of Shaikh Salman bin Hamad Al Khalifa a Memorandum of Understanding (MOU) was signed today to collaborate for the benefit of the financial services industries in Singapore and Bahrain.
The MOU aims to foster a closer relationship and develop channels of information exchange in the areas of operations, regulatory framework, and the equities products traded on the respective markets.
The MOU was signed by Mr Fouad Rashid, Director of Bahrain Stock Exchange, and Mr Gan Seow Ann, Senior Executive Vice President and Head of Markets.
Mr Fouad Rashid, Director of Bahrain Stock Exchange commented, "We are delighted to have signed an MOU with Singapore as a key exchange in the Asia Pacific region. We are looking forward to a close working relationship and to exchanging knowledge and expertise, to our mutual benefit. We anticipate that the MOU will lead to increased capital flows between Bahrain and Singapore as leading financial markets in their respective regions".
On this occasion, the Crown Prince and the Chairman of the Economic Development Board (EDB) praised the signing of the MOU and assured that it will increase cooperation and collaboration in both markets and enhance their positions. His Excellency expressed his gladness with the launch of this cooperation agreement that will support the relations between both countries. Mr. Fouad Rashid expressed his thanks and appreciation to his Excellency the Crown Prince and Chairman of the EDB for attending the signing ceremony on the MOU with Singapore Exchange which is considered one of the important stock exchanges in the far east. Mr. Rashid said that the MOU goes in line with BSE’s efforts to enhance the joint cooperation between BSE and stock markets worldwide in order to benefit from their experiences and develop the Exchange.
Mr Hsieh Fu Hua, Chief Executive Officer of SGX said, "As the Asian Gateway exchange, SGX looks forward to working with our Bahraini counterparts to grow and strengthen our leadership positions in our respective geographies."