President Mohammed Al Hashemi of the UAE Financial Markets Association had said in comments that the merger of Dubai Financial Markets and Abu Dhabi Securities Exchange would bring more investors in the Gulf, Middle Eastern and North African regions. The comments were published by news agency WAM on Monday.
Al Hashemi also said that the consolidated bourse would be one of the strongest markets and would create opportunities in promoting the capital market of United Arab Emirates.
"(This merger) would have significant benefits for both shareholders and participants in the market and thus the national economy", Al Hashemi said.
This October, the governments of Abu Dhabi and Dubai had reportedly hired banks to provide advice on a potential merger of the countries' bourses. The possible tie-up between the two exchanges had been hounded by valuation differences and Dubai's corporate debt crisis in 2009.
The UAE Financial Markets Association was established in 2011 to provide information to members regarding the financial industry in the UAE.
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