Title: Press Release: The Eleventh Meeting of the Ministerial Committee of the Board of Directors’ Heads of the Regulatory Entities of GCC Capital Markets

Kuwait, November 9, 2025- The Capital Markets Authority (CMA) participated in the Eleventh meeting of the Ministerial Committee of the Board of Directors’ Heads of the Regulatory Entities of GCC Capital Markets on Thursday 6^th November 2025, chaired by His Excellency Mr. Emad Ahmed Tifouni- Chairman of CMA Board of Commissioners - Managing Director (Charing State- State of Kuwait), with the participation of the General Secretariat of the GCC represented by His Excellency Mr. Khaled Bin Ali Al-Sunaidi, Assistant Secretary General for Economic and Development Affairs, His Excellency Dr. Waleed Hassan Al Hosani – Director of Economic Affairs Sector, and their Excellencies the Board of Directors’ Heads of the Regulatory Entities of GCC Capital Markets, His Excellency Mr. Youssef Bin Hamad Al-Bilihid, Vice Chairman of the Capital Market Authority Board (Kingdom of Saudi Arabia), His Excellency Mr. Mohamed Ali Al-Hammadi, CEO of Securities & Commodities Authority (UAE), Mr. Khaled Ibrahim Humaidan, Governor of the Central Bank of Bahrain (Kingdom of Bahrain), Sheikh Ahmed bin Khalid Al-Thani- Vice Chairman of the Board of Directors of Qatar Financial Markets Authority (State of Qatar), His Excellency Mr. Said Mohammad AlSaqri – Chairman of the Board of the Financial Services Authority and Minister of Economy (Sultanate of Oman), and Ms. Rayan Mohammad Alzaid- Vice Chairman of CMA Board of Commissioners – (The State of Kuwait).

At the commencement of the meeting, His Excellency Mr. Emad Ahmed Tifouni- Chairman of CMA Board of Commissioners welcomed the participants while expressing his appreciation for the efforts of the General Secretariat of the GCC in supporting the path of integration and cooperation between the Gulf financial markets, and emphasizing the importance of these meetings in strengthening joint work and unifying efforts aimed at developing the legislative and regulatory structure in the financial markets of the GCC countries. His Excellency Mr. Khaled Bin Ali Al-Sunaidi, Assistant Secretary General for Economic and Development Affairs, further delivered in a speech that the growing role of the financial sector in the economic development and the qualitative transformation that the Gulf financial markets are witnessing made them a major pillar in consolidating the stability of the financial system and enhancing its strength, and referred to the escalation in the total market value of the Gulf markets to about 4 trillion US dollars in 2024.

Throughout the meeting, the committee reviewed several topics listed on the agenda, most notably approving the minutes of previous meetings of the Heads of Capital Markets Authorities Committee (or their equivalent) in GCC Countries that addressed several initiatives, such as enhancing effective supervision of securities activities, and increasing electronic linkage of knowledge between Gulf market authorities. The committee also reviewed the report of the Gulf Markets (Exchanges) Committee of the work progress of projects related to several initiatives, such as promoting cross listing and trading of bonds and sukuks in Gulf financial markets, and dual listing of companies and funds in the Gulf markets. In addition, the Saudi Capital Market Authority presented a brief overview of the “Mulim” program, the most important results of awareness campaigns, and updates on the Gulf Smart Investor Award.

Furthermore, the committee was updated on the latest work developments regarding the passporting list. The committee also reviewed the Statistical Center's report on developments and updates in the GCC financial markets for the first half of 2025, and set the date for the committee's next meeting with the Kingdom of Bahrain, the Charing state for the coming year.

His Excellency Mr. Emad Ahmed Tifouni concluded the meeting by thanking the participants for their valuable contributions and commended their efforts in achieving the objectives of the integration of the Gulf financial markets, wishing everyone continued success and prosperity.

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.
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