Stock Exchanges of Nairobi and Qatar to Cooperate on Islamic Finance

The two sides will share information relating to listing, trading, depository operations, clearing and settlement.

The Kenyan capital markets regulatory authority and the Nairobi Securities Exchange today visited the Qatar Stock Exchange (QSE) and signed a memorandum of understanding (MOU) for cooperation between the two exchanges.

Rashid bin Ali Al-Mansoori, CEO of Qatar Stock Exchange, said: “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 two sides will share information and technical assistance in respect of processes and procedures relating to listing, trading, depository operations, clearing and settlement.

Mr. Samuel Kimani, Chairman of the Nairobi Stock Exchange, said that his 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.

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