Mubadala and Mumtalakat to set up investment fund

HandshakeTwo of the Middle East’s largest sovereign wealth funds are joining forces to create an investment fund. The venture between Mumtalakat and Mubadala, the sovereign wealth funds of Bahrain and Abu Dhabi respectively, will be used to fund projects both home and abroad. It comes on the back of discussions between the two entities to collaborate on areas of mutual interest to both Bahrain and the UAE. In addition, the Abu Dhabi Securities Exchange and the Bahrain Bourse have similarly signed a cooperation agreement to strengthen ties between the two trading venues. This includes allowing investors based in both countries to place orders on both exchanges. According to ADX chief executive Saeed Hamad Al Dhaheri, the discussions between the two have “focused on how we can expand market integration and move forward on joint initiatives such as dual listings, ETFs and market access, which will enhance liquidity in both securities markets”. ©2021 funds global mena

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