finance ties -->
The stock exchanges of Saudi Arabia and
The agreement will see the exchanges share expertise and developing human capital which is likely to cover areas such as equities, mutual funds and Islamic bonds, or sukuk.
The two countries are the largest Islamic finance markets globally, holding a combined
Saudi Arabia's Tadawul is home to the largest Islamic banks in the world, while
Islamic finance, centred in southeast
The agreement follows stronger cooperation between the Islamic finance centres, in particular the Gulf and Southeast Asian regions, despite traditional differences in the design and implementation of Shariah-compliant financial products.
Saudi Arabia's exchange has already reached similar agreements with its
In October, the central banks of
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