Photo Credit: Kobi Richter/TPS
Tel Aviv Stock Exchange Building

The Abu Dhabi Stock Exchange (ADX) and the Tel Aviv Stock Exchange (TASE) signed a historic Memorandum of Understanding (MOU) on Wednesday that will, for the first time, allow companies in the United Arab Emirates (UAE) and Israel new opportunities for financing and investment and for cooperation in the development and commercialization of innovative technologies in the capital market.

This is Israel’s first commercial connection in the Arab world.


The MOU will allow the opening of communication channels that will strengthen the cooperation between the two stock exchanges and contribute to the growth of capital markets in the UAE and Israel.

ADX Chairman Mohammed Ali al-Shorafa al-Hammadi signed for the UAE and TASE Chairman Amnon Neubach signed for Israel in a virtual ceremony.

This MOU is an important part of the two countries’ efforts to expand diplomatic and commercial cooperation, as it paves the way for the development of mutual relations through the encouragement of economic growth and the promotion of technological innovation.

One of the main purposes of the MOU is to examine opportunities for possible collaboration, including cross-listing of securities, mutual trading between members of the stock exchanges, investor access to both markets, the establishment of fintech and other market infrastructure technologies, and the sharing of data and other information for the development of new products.

The goals guiding the parties are to create easy access between the two capital markets and to build an attractive market for all major stakeholders, including trading companies, investors and agents, as well as suppliers and consumers of information.

Al-Hammadi talked about “the opening of a new era” that “leads to the growth of commercial opportunities.”

He described the MOU as “the first swallow of the collaboration and testifies to our commitment to creating value in the region, through business and commerce.”

CEO of ADX Saeed Hamad Al Dhaheri added that the MOU is “an example of mutually beneficial cooperation between the sharing of ideas, information and initiatives, which add value to both parties.”

Neubach stated that the new collaboration will “open the door to important opportunities for companies traded in both countries.”

Itai Ben Zeev, CEO of the Tel Aviv Stock Exchange, said that the MOU “lays the foundations for real and meaningful cooperation and testifies to the great interest in the Israeli capital market for international investors seeking to invest, among other things, in technology and growth companies in Israel.”

Israel, the UAE and Bahrain signed a historic peace agreement at the White House on September 15, the first agreement to be signed between Israel and an Arab country in 25 years.

Announced on August 13, the Abraham Accords is the first between a Gulf state and Israel and is expected to lead to similar agreements with other Arab countries, possibly Oman or Saudi Arabia.


Previous articleBrooklyn Chanukah Donut Crawl 2020
Next articleNot Your Grandmother’s Kosher Cheese
Aryeh Savir is director of the International division of Tazpit News Agency.