Kazakhstani stock exchanges are eager to join Tabadul, a platform designed for electronic information exchange. This might help Kazakhstani businesses attract capital from investors from the UAE and other Persian Gulf nations, according to the National Bank of Kazakhstan.
Tabadul is a digital platform for trading between member exchanges, established by the Abu Dhabi Securities Exchange.
Its members are the Bahrain Bourse and the Muskat Stock Exchange (Oman). Retail investors can trade through licensed brokers in both markets.
In the UAE, the delegations of the National Bank and the Agency for Regulation and Development of the Financial Market (ARDFM) met with representatives of the country’s central bank, Abu Dhabi Securities Exchange, executives of several banks and investment holdings, as well as leading AI and fintech companies.
«The two sides have agreed to continue promoting investments to financial markets in Kazakhstan and the UAE, to raise liquidity of stock markets and expand the exchange of best practices related to the development of capital markets between the Abu Dhabi Securities Exchange, KASE and AIFC,» the National Bank said in a statement.
The UAE representatives have also agreed to share their experience in regulating digital financial assets and Islamic banking.
«Given that the UAE is one of the leaders in terms of digital banking and AI technologies implemented in the financial sector, we have agreed to work on the introduction of digital solutions and AI technologies in the financial sector of Kazakhstan in conjunction with each other,» Kazakhstan’s regulator said.
The two sides have also discussed issues related to cooperation with the investment holding Mudabala, which has some experience in financing big projects.
In June 2023, AIX reported signing an agreement with the Abu Dhabi Securities Exchange to join Tabadul. All securities on Tabadul are traded in local currencies. This means that investors from the Gulf will use the tenge when making transactions on Kazakhstani exchanges.
