Dubai and Kazakhstan sign stock exchange tie-up

Handshake 3A deal to collaborate and share information between the Kazakhstan Stock Exchange and Nasdaq Dubai hints at greater ties between the two exchanges.

Maxat Kabashev, chief executive of the Kazakh bourse, signed the partnership deal with Hamed Ali, chief executive of Nasdaq Dubai, on a visit to the UAE this week.

“Kazakhstan’s ties to the UAE are growing in importance in various sectors ranging from economic and financial to social and cultural,” says Kairat Kelimbetov, governor of Kazakhstan’s central bank, who led the Kazakh delegation.

Nasdaq Dubai was established in 2005 in addition to Dubai’s main exchange, the Dubai Financial Market, specifically for regional and international listings. It is located in the Dubai International Financial Centre (DIFC).

According to a statement from Nasdaq Dubai, the UAE is Kazakhstan’s largest trading partner among the Gulf Cooperation Council nations. UAE companies have made substantial investments in energy projects and real estate in Kazakhstan, says the statement.

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