Global Arab Network | Algeria, Dubai - Cooperation in financial services

Translate this article to your language:

GANPublications

e-Publications

Add Site to Favorites

Add Page to Favorites

Make Homepage

Share This Page

RSS Feed

--------------------------------------------------------------------------------------------------------------------
| |

Algeria, Dubai - Cooperation in financial services

Global Arab Network - - John Short

Monday, 13 July 2009 00:28

Dubai Financial Market received a high level Algerian delegation representing the Commission for Organization and Surveillance of the Borse of Algeria 'COSOB'.

The visit is a part of the continued efforts to develop the cooperation between DFM and regional financial markets.

The delegation was greeted by the DFM's top management, and attended a presentation about the market operations, future plans and development initiatives such as the new trading system 'X-stream', in presence of Maryam Fikri, Senior Vice President and Director of Clearing, Settlement and Depository division, and other DFM's officials.

Fahima Al Bastaki, Senior Vice President, Market Development Division, said: 'DFM is pleased to welcome the Algerian delegation as we are always keen to interact with other Arab exchanges and cooperate with them to optimize best practices and share experiences of other parties.'

'DFM is committed to share its knowledge and experience with other Arab exchanges in light of the brotherly relations. We are willing to support the Algerian efforts to develop the exchange either through technical or managerial experience. Our ultimate goal is to create highly developed Arab financial markets that are capable to attract investments and reinforce the development of regional economies,' she added.

The discussions touched upon different topics related to the financial markets, the DFM and the Borse of Algeria's experience, and was concluded with a business lunch attended by DFM and SCA representatives.

Commenting on the discussions, Ismail Noureddine, President of Commission for the Organization and Surveillance of the Borse 'COSOB' said, 'Algeria is looking to benefit from DFM's vast experience and successful initiatives. We are confident that this visit and the continuous cooperation will play a major role in developing the Borse of Algeria.'

DFM continues to develop an outstanding relations with different Arab financial markets and have signed several agreements and MOU's with these exchanges that secured the much needed framework for more cooperation.

The Algerian delegation's four day visit to the UAE is part of a tour to several regional and international exchanges to learn more about the experience of these markets in developing the Algerian Borse. The aim of the visit is to know more about financial markets modernization, market control, brokerage firms regulation, fund management and many other topics related to the financial markets industry.

Members of the Algerian delegation are Ismail Noureddine, President of Commission for the Organization and Surveillance of the Borse 'COSOB', Samir Degaichia, Secretary General of the 'COSOB' and Mustapha Ferfera, Managing Director of the Borse of Algeria.

Global Arab Network

Add comment

The opinions of the authors in articles published are theirs alone and do not necessarily reflect the views of Global Arab Network
------------------------------------------------------------------------------
Published comments are the opinions of private individuals and do not reflect the views of Global Arab Network