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Abu Dhabi Securities Market (ADSM) and Karachi Stock Exchange (KSE) signed today a Memorandum of Understanding (MoU) signed by Mr. Adnan Afridi, Managing Director of KSE, and for ADSM by Mr. Tom Healy, Director General.

This MoU is designed to facilitate procedures of cross-listing of companies on ADSM and KSE. In addition, this MOU will open channels of cooperation between both exchanges and the exchange of expertise concerning rules and regulations applied, investor awareness programs, as well as the latest techniques and developments in the financial markets.

Mr. Tom Healy, DG of ADSM said, "This MOU represents a significant step in bringing our capital markets closer together, to our mutual benefits. We look forward to working with KSE from now on in developing mutual business."

Mr. Adnan Afridi, Managing Director of KSE, welcomed the commitment of ADSM and KSE to cooperate and share expertise. He added that this MOU will strengthen the coordination between both markets which in turn will help and facilitate the process of enhancing surveillance and investors' protection as well as the development of financial markets according to the best international practices that will lead to a professional markets.

The Pakistan Business Council arranged the MOU between the KSE and ADSM playing the vital role in bringing the two organizations together with the object to develop the capital market.

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