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Israel, Bahrain Bourses Sign Agreement

Memorandum of understanding calls for exchange of information and promotion of business relations.
Dec 3, 2020 11:13 AM   By Rapaport News
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The Israel Diamond Exchange (IDE) and the Bahrain Bourse have agreed to collaborate on trade following a recent peace deal between the Middle East countries.

The two institutions signed a memorandum of understanding (MoU) at the IDE on Thursday calling for the exchange of information and the promotion of business relations, they said in separate statements the same day. The bourses will also seek to share knowledge and expertise, especially in the area of commodity-based assets trading.

Bahrain Minister of Industry, Commerce and Tourism Zayed Alzayani and Bahrain Bourse CEO Sheikh Khalifa bin Ebrahim Al-Khalifa attended the ceremony at the IDE in Ramat Gan, together with IDE president Yoram Dvash. It came days after the Dubai Multi Commodities Centre (DMCC) opened a representative office in the exchange.

“We look forward to creating a dialogue with the Bahrain Bourse, to exchanging ideas and sharing information, and to exploring joint commercial initiatives,” Dvash said. “I am sure that this MoU will lead to economic opportunities for both sides.”

In September, Bahrain — together with the United Arab Emirates (UAE) — signed a treaty normalizing relations with Israel. No official trade previously took place between Israel and the two Arab states.

Image (clockwise from top left): Zayed Alzayani, Ramat Gan Mayor Carmel Shama Hacohen, Yoram Dvash, Sheikh Khalifa bin Ebrahim Al-Khalifa. (Israel Diamond Exchange)
Tags: Bahrain, Bahrain Bourse, DMCC, Dubai, Dubai Multi Commodities Centre, IDE, Israel, Israel Diamond Exchange, middle east, MoU, Ramat Gan, Rapaport News, Sheikh Khalifa bin Ebrahim Al-Khalifa, United Arab Emirates, Zayed Alzayani
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