Iraq and ADX Focus on Capital Market Integration

During an official visit to Abu Dhabi, Faisal Al-Haimus, Chairman of the Iraqi Securities Commission, met with Abdullah Salem Al-Nuaimi, CEO of the Abu Dhabi Securities Exchange (ADX), to discuss enhancing cooperation between the Iraq Stock Exchange (ISX) and ADX. This collaboration is aimed at boosting the efficiency of both markets and promoting greater integration within the regional financial ecosystem.

A key focus of the meeting was the potential signing of a joint cooperation agreement between the two exchanges. The agreement would facilitate knowledge sharing and the development of enhanced operational mechanisms in capital markets. They also discussed the Iraq Stock Exchange’s entry into ADX’s “Tawadul” digital platform, launched in 2022. This platform is seen as a crucial step in modernising financial exchanges and improving regional connectivity.

Al-Haimus stressed the importance of this collaboration in elevating the role of the ISX on a regional scale. He also highlighted how such initiatives would contribute to improving Iraq’s investment environment, making it more attractive to both local and international investors.

Al-Nuaimi expressed ADX’s full support for the initiative, emphasising the significance of cross-border collaboration in enhancing the knowledge and experience exchange between regional markets. He further noted that this cooperation would strengthen capital markets and play a vital role in stimulating economic growth and investment in the region.

Additionally, Al-Haimus participated in the annual Middle East Investor Relations Society (MEIRS) Conference 2024, held in Abu Dhabi, where over 800 leaders and experts gathered to discuss crucial issues affecting capital markets. Topics included the role of artificial intelligence in investor relations and integrating Environmental, Social, and Governance (ESG) standards in Islamic finance.

This collaboration marks a significant step in Iraq’s ongoing efforts to develop its capital markets and foster regional economic cooperation.

Source: Abu Dhabi Securities Exchange