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ABU DHABI (ALETIHAD)
The Abu Dhabi Securities Exchange (ADX) has signed strategic memorandums of understanding with the Egyptian Exchange (EGX) and the Damascus Securities Exchange (DSE) to explore greater cooperation among the three capital markets.
The agreements were signed during the annual conference of the Arab Federation of Capital Markets in Abu Dhabi, ADX said in a statement.
They establish a framework for the exchanges to work together on market development, cross-border trading opportunities and improved investor access. The parties will also discuss the potential integration of the Egyptian and Damascus exchanges into Tabadul, ADX’s digital exchange hub.
The signing ceremonies were attended by Waleed Saeed Al Awadhi, CEO of the UAE Capital Market Authority; Ghannam AlMazrouei, Chairman of ADX Group; Abdulla Salem Alnuaimi, Group CEO of ADX Group; Mohammed Yisr Barnieh, Syria’s Minister of Finance; Omar Radwan, Executive Chairman and CEO of EGX; Omar Barhamji, Chairman of DSE; and Basel Asaad, CEO of DSE.
“As financial markets across the region grow, working directly with our partners is essential to unlocking new investment and building deeper liquidity,” Alnuaimi said.
“Exploring ways to integrate our markets allows us to support cross-border trading for our investors and issuers. In doing so, the ADX serves as a core catalyst for capital formation in line with Abu Dhabi Vision 2030, strengthening the emirate’s standing as a global investment hub.”
Radwan said the gathering of financial market leaders at the conference reflected a shared commitment to expanding cooperation across Arab capital markets.
“There is no doubt that building effective and complementary partnerships among all participating parties and institutions is no longer merely an option, but rather a fundamental pillar for supporting the resilience of our financial markets and their ability to attract global capital and direct investments,” he said.
“The memorandum of understanding we signed today with the Abu Dhabi Securities Exchange serves as an immediate practical implementation of the outcomes of this conference and the spirit of this gathering, paving the way to facilitate cross-market trading, develop infrastructure, and explore opportunities for cooperation that will serve the economic growth of both countries.”
Asaad said the agreement came at an important time for Syria as the country pursued economic openness and stronger regional and international cooperation.
“Harnessing the expertise of our Arab peers and adopting state-of-the-art financial technology and infrastructure are top priorities for modernising and enhancing the operations of the Damascus Securities Exchange,” he said.
“Syria today presents vast and expanding investment opportunities across key sectors. Capitalising on these emerging prospects requires our local capital market to keep pace with this transformation and work alongside leading external financial markets.”
He said the collaboration with ADX and other exchanges would help improve the efficiency of the Syrian market and provide investors with easier access to emerging opportunities.
The latest agreements complement existing ties among regional markets, including a bilateral memorandum of understanding signed by the Egyptian and Damascus exchanges in 2006, the statement said.
The Egyptian Exchange traces its history to the establishment of a mercantile futures market in Alexandria in 1883 and the Cairo Stock Exchange in 1903. It had 277 listed companies with a combined market capitalisation of $77 billion as of August 2026.
The Damascus Securities Exchange began trading in 2009. The number of companies listed on the exchange has since increased from six to 27, with a combined market capitalisation of $2.1 billion.
ADX said the start of formal discussions with the two exchanges supported its objective of developing an integrated, multi-asset marketplace and facilitating international investment flows.
