Finance Experts: Unified ME stock exchange a must

The establishment of one Middle East stock exchange is an exigency in light of the huge developments in international money markets and the smallness of the Arab money market which is too weak to compete, said financial analysts.

The experts taking part in the two-day EuroMoney Arab Financial Forum, that started on Tuesday, said setting up a unified Middle East stock exchange will not conflict with the existing local stock exchange, citing the massive NASDAC which has local subsidiaries.

They emphasized that the unification of criteria and auditing and financial systems in the Arab world was an essential precondition to create this stock exchange which would boost the competitiveness of Arab economies and enhance the pace and volume of investment and money flows in the region.