CmaBoardReleases
Title: Press Release: The Capital Markets Authority Participates in the 25th Meeting of the Heads of GCC Capital Markets Authorities Committee (or their equivalent)
Kuwait, October 04, 2022 - The Capital Markets Authority (CMA) has participated in the 25th meeting of the Heads of GCC Capital Markets Authorities Committee (or their equivalent), represented by Prof. Ahmad A. AlMelhem - Chairman of CMA Board of Commissioners and Managing Director, through visual communication technology.
This periodic meeting of the member states aimed to follow up developments of the bodies regulating capital markets. The meeting was chaired by His Excellency Mr. Youssef Bin Hamad Al-Bilihid - Vice Chairman of the Capital Market Authority Board (Chairing State - Kingdom of Saudi Arabia) with the participation of the Assistant Secretary General for Economic and Development Affairs of GCC General Secretariat Mr. Khalifa Bin Saeed Al-Abri and their Excellencies, the Heads of the Boards of Directors and the GCC General Secretariat, and they are: Her Excellency / Dr. Maryam Al Suwaidi, Securities & Commodities Authority (UAE), Her Excellency / Abeer Sheikh Ibrahim Al Saad – Director of Capital Markets Supervision Directorate - Central Bank of Bahrain - Kingdom of Bahrain, His Excellency / Abdullah Al-Salmi - CEO of the Capital Market Authority - Sultanate of Oman, His Excellency / Nasser bin Ahmed Al Shaibi - CEO of the Qatar Financial Markets Authority - State of Qatar.
The meeting commenced by following up the implementation of previous decisions passed by the Committee in its meeting last March and the achieved tasks so far. The Secretariat memo regarding inter-licensing of financial products among the regulatory authorities in the GCC capital markets was reviewed, approved and submitted to the Ministerial Committee. The Committee also approved the meeting minutes of the working teams that are derived from the Committee.
Additionally, the Committee reviewed several topics including the tasks of the working team of the integration strategy for the capital markets in the GCC countries. The committee also discussed the work of the team specialized in communication and raising investors awareness regarding the GCC capital markets’ regulators. Moreover, GCC Heads Committee reviewed the results and developments of the work of the working team responsible for the training program for media and awareness specialists in the regulatory bodies.
In conclusion, it was agreed to set March, as the date of the 26th Meeting of the GCC Heads of Capital Markets Authorities Committee.
Ends-
Notes to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance regulations, and protect investors from unfair practices which violate the CMA's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw