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A delegation representing the Kenyan capital markets regulatory authority and the Nairobi Securities Exchange visited Qatar Stock Exchange and signed a memorandum of understanding for cooperation between the Qatar Stock Exchange and Nairobi Securities Exchange.
In the signing ceremony, Mr. Rashid bin Ali Al-Mansoori, CEO of Qatar Stock Exchange, stated that
I am delighted to see this MOU signed between the two exchanges, hoping that it will help enhance the economic cooperation between the two countries. The MOU signals the willingness of the two countries to cooperate and develop this relation further. The signing ceremony today is just a beginning of further cooperation between the two exchanges. I look forward to a long and mutually beneficial relationship between QSE and Nairobi Securities Exchange.
The visiting delegation thanked QSE and expressed confidence that the MoU signed between the two sides will prove to be a useful mechanism not only to raise the level of cooperation between the two exchanges, but also to open up new prospects for business opportunities for market participants in both Qatar and Kenya.
Mr. Samuel Kimani, Chairman of the Nairobi Stock Exchange, expressed his pleasure to visit Qatar Stock Exchange and said that the Nairobi Securities Exchange is a young exchange looking for further development and cooperation opportunities, and the MoU with QSE will open a door for fruitful cooperation opportunities, especially in light of Qatar’s potential in terms of exchange products, Islamic finance and other areas of interests.
We are here in a joint visit to meet with the QSE to better understand the regulatory and market environment in Qatar and create opportunities for issuance of products and cross listings, as well as exploring the scopes of cooperation in light of the strong relations between Kenya and Qatar,” Paul Murithi Muthaura, CEO of the Kenyan Capital Markets Authority, stated.
The purpose of this Memorandum of Understanding is to strengthen the relationship between both parties and set up a mechanism for cooperation and communication to work on matters that are of mutual interest, primarily exchange of information, knowledge and expertise in relation to the development of capital markets, as well as exchange of information and technical assistance in respect of processes and procedures relating to listing, trading, depository operations, clearing and settlement. The MoU also aimed at exploring ways to facilitate investments in each other’s market and promote public awareness.