The Sultanate represented by Capital Market Authority participated in the ninth meeting of the Union of Arab Securities Authorities in Algeria. The delegation was headed by H.E Sheikh Abdullah Al Salmi, and Khalfan Al Sharji, Director General of Directorate General of Capital Market Institutions, CMA as a member.
The meeting discussed issues related to Arab capital markets and the most significant challenges facing the securities industry in the member countries. It also discussed the performance development opportunities, as participants presented the infrastructure report of the markets, and the transparency level of Arab capital markets. The meeting also included a discussion on the reality of Islamic financing in the Arab capital markets, and the Secretary General’s memo on preparing a guideline for related parties transactions in cooperation with the Organization of Economic Cooperation and Development (OECD) was also discussed. One of the members also presented a number of issues related to the administrative and financial aspects of the Union.
It is worth to mention that the Union includes a collection of Arab securities authorities, and it contributes in promoting Arabic development and economic integration by seeking to achieve harmony between rules and regulations applied in the Arab securities market, and upgrading the legislative and regulatory levels of Arab securities markets in order to achieve fairness, competency and transparency.
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