A Memorandum of Understanding (MoU) was signed by the Securities and Commodities Authority (SCA) of the United Arab Emirates and the Bangladesh Securities and Exchange Commission (BSEC) to develop potential for dual listing, bond issuance, joint subscription, and commodities exchange.
A BSEC press statement stated that the MoU was signed on Thursday at the SCA Building in Dubai, United Arab Emirates.
The MoU was signed on behalf of each party by the BSEC Chairman Professor Shibli Rubaiyat Ul Islam and the SCA CEO Maryam Buti Al Suwaidi.
The MoU will open up options on the financial markets of the two nations for dual listing, bond issuance, joint subscription, and commodities exchange.
Aside from that, reciprocal communications will be expanded, which will aid in the drafting of rules and regulations, skill development and training of capital market personnel, and the creation of new goods and services in the capital market.
According to the news release, the SCA governs the securities and commodities markets in the UAE. The organization’s major duty is to ensure the orderly development of a fair and efficient securities and commodities market.
According to the press release, Prime Minister Sheikh Hasina visited the United Arab Emirates from March 8 to 12, this year, with the goal of promoting Middle Eastern investment in Bangladesh, growing exports, and deepening mutual ties, particularly economic collaboration. During that tour, the SCA met with the BSEC.
In addition to the signing of a memorandum of agreement between the BSEC and the SCA, there was discussion on the capital markets and investment potential of both countries.