Kuwait City, January 24, 2018. The Capital Markets Authority’s delegation participated in the 40th annual conference of the Africa / Middle-East Regional Committee (AMERC), held for two days in the capital of the Kingdom of Morocco (Rabat), which is concerned with issues that regulates securities activities in Africa and Middle East region, consisting of (37) members. The CMA is keen to participate actively as a member of the Organization and its committees to exchange experiences and to adopt best practices in the field of securities activities, and it also looks forward to following up developments in regulation and supervision of markets. The delegation was headed by Mr. Mishaal M. Al-Usaimi, Vice Chairman of CMA Board of Commissioners - Acting Managing Director, with the participation of Mr. Abdulrahman Mohammed - Director of International Relations Office, and Mr. Nawaf Al Saleh -  at the Vice Chairman of CMA Board of Commissioners’ Office.

This year's conference, entitled "Market-based Financing in Africa and the Middle-East, Challenges & Opportunities," was hosted by Ms. Nezha Hayat, President of the Moroccan Capital Market Authority, Vice Chair of AMERC, who gave an opening speech. The agenda of the 40th conference was also introduced during the opening ceremony, and it was announced that Kuwait will be hosting the 42nd Conference, which shall be held in early 2019. The topics of the conference sessions dealt with several aspects, which are the terms that have recently gained the attention of the international regulatory bodies, such as Fintech, Reglabs and Regulatory Sandboxes. Such technology calls for innovation and growth in the securities markets and operating companies, and helps in the development of the methods of regulation and implementation of financial transactions globally. The session also reviewed the varying levels of regulators in the region in the adoption of this innovation and understanding of the rapid changes in global markets in technology with a view to the challenges and opportunities it is facing. Additionally, today's sessions discussed the emerging risks in Africa and Middle East region, and how these risks can be addressed to develop the capacity to cope with financial crises. The session was complemented by a speech and presentation by Mr. Mishaal M. Al-Usaimi, representing the CMA, as Kuwait prepares to host the 42nd Conference of AMERC in early 2019. In his speech, Al-Usaimi pointed to CMA's keenness to host the 42nd conference and contribute to support the Committee's progress and priorities, as well as to IOSCO and to actively participate in policy-making that supports the development and sustainability of capital markets in the rapidly changing environment. He also reviewed the latest developments in Kuwait's capital market system and its contribution to advancing economic development. The presentation included a film about the State of Kuwait, highlighting the cultural, historical, economic, educational and touristic aspects of the country.

The second day of the conference also opened with a discussion on the challenges of financing infrastructure through capital markets and the role in which project financing can contribute to reducing the risks associated with it, as well as the role of small and medium enterprises (SME), which emerged as a force for economic growth in emerging markets. The sessions also discussed environmental finance and growth opportunities in this activity. The sessions of the conference concluded with reviewing issues related to integrated financial markets and making recommendations by the members of the committee on how to contribute to integrated markets.

It is worth mentioning that the CMA participated in the 39th meeting of the Committee held in the Republic of Jamaica, Montego Bay, on the sidelines of the 42nd Annual Meeting of IOSCO and initiated the 2019 annual conference of the Commission.

Ends
 
Notes to Editors
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010, and amended by Law No. 108/2014. Pursuant to the Law, the Authority 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 Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The Authority 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