BHB, ADX launch Tabadul Exchange Hub
Bahrain Bourse (BHB) and Abu Dhabi Securities Exchange (ADX) announced the launch of the region’s first digital exchange hub (Tabadul).
The exchanges commemorated this landmark achievement towards the launch of Tabadul with an official bell-ringing ceremony live-streamed from BHB and the ADX headquarters.
ADX Chairman Hisham Malak rang the market opening bell at ADX and the Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa rang the market opening bell at BHB.
Industry and Commerce Minister Zayed bin Rashid Al Zayani and Central Bank of Bahrain (CBB) Governor Rasheed Mohammed Al Maraj was present.
Tabadul was the signed partnership agreement in November 2021 between ADX and BHB to implement a cross-border plan in trading and post-trading environments.
Tabadul will allow investments across Bahrain Bourse and Abu Dhabi and enable investors to trade directly on both exchanges through licensed brokers in both markets.
“We witnessed a remarkable launch as a result of the strategic cooperation between Bahrain and the UAE, in line with the support of His Majesty King Hamad bin Isa Al Khalifa and UAE President His Highness Shaikh Mohammed bin Zayed Al Nahyan,” Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa said.
“We are keen to enhance the investment environment in both countries by exploring new ways of cooperation within the capital market ecosystem to support the local economy further.”
“Our pioneering leader’s long-standing vision was to create a network of exchanges in the region to ensure market liquidity and lasting financial prosperity and this vision became a reality with the launch of Tabadul,” ADX Chairman Hisham Malak said.