Amman: Amman Stock Exchange (ASE) and Astana International Exchange (AIX) have entered into a memorandum of understanding (MoU) aimed at fortifying relations and establishing a cooperation mechanism to facilitate joint communication and information exchange between the capital markets of Jordan and Kazakhstan.
According to Jordan News Agency, the MoU is set to contribute to the development of the legislative and technical frameworks of both markets, thus enhancing the investment environment. The agreement was signed by ASE CEO, Mazen Wathaifi, and AIX CEO, Aseel Mukazhanova.
During the signing ceremony, Wathaifi highlighted the significance of His Majesty King Abdullah II's recent visit to Uzbekistan and Kazakhstan, describing it as an "important milestone" that has opened new economic opportunities for Jordan. This visit, he noted, aligns with the Economic Modernization Vision to foster trade and investment partnerships between Jordan's economic sectors and those of Uzbekistan and Kazakhstan.
Wathaifi emphasized that the newly signed MoU is a pivotal development in augmenting ASE-AIX cooperation. He believes that this step will enhance the efficiency and competitiveness of both markets, support their growth potential, and attract new investments.
The agreement also lays the groundwork for organizing meetings and promotional events to showcase investment opportunities in Jordan's capital market to the Kazakh side.
Furthermore, the MoU will facilitate the exchange of information and expertise in various areas, including the development of market-related legislative and technical infrastructure. Other areas of collaboration mentioned include modern technologies, financial instruments, SME markets, Sharia-compliant securities, exchange-traded funds (ETFs), new indices, and related financial technology.
Additionally, the memorandum seeks to foster cooperation in organizing joint capacity-building, training, and awareness-raising events, with a focus on green finance and sustainability.