Memorandum of Understanding between the Saudi and the Algerian financial markets

Algeria Stock Market signed this Wednesday a memorandum of understanding with the Saudi Stock Exchange (Tadawul) in order to strengthen this cooperation and in the conclusion of works of the 11th session of the Joint Committee of the Algerian-Saudi Arabia joint statement by the two bourses. 

The memorandum of understanding has several perspectives, which include the development of organizational and technical measures and human resources and work on the development of cooperation between the two parties to get to know the most important changes that take place at the two markets and the exchange of experiences in the field of rules applied in the two bourses. It also aims to exchange experiences and efforts and literature and work to increase awareness of the investment culture among investors in both countries develop programs and launching media campaigns.

The Director-General of Algeria Stock Exchange stated that this agreement is a significant financial gain for the Algerian market, considering that the Saudi Stock Exchange (Tadawul) is one of the most important Arab stock markets on the Arab and international level. He also pointed out that this agreement within the strategy of the Algeria Stock Exchange to develop stock exchanges similar to stock exchanges in Tunis and Cairo

In addition, that Algeria will seek to apply the terms of the agreement in the near proper time to allow both parties to benefit from Saudi Arabia actual experience in the field of financial markets.

Noting that the Algerian bourse was founded in 1997, and provides a service to brokers in the stock market operations to enable them to perform their duties in accordance with the applicable laws and regulations.