11 January 2011
MUSCAT: Yahya bin Said Al Jabri, executive president of the Capital Market Authority (CMA), yesterday urged for strengthening cooperation among Arab stock exchanges to enhance foreign investment.
Addressing the fifth meeting of the Union of Arab Stock Exchanges here, the CMA cheif said that enhanced cooperation among Arab bourses will help attract foreign portfolio investment and encourage Arab investors to invest within the region.
"We hope to complete the basic infrastructure to achieve our aims as the union plays a vital role in Arab bourses," the Captial Market Authority executive president said, adding that integration of bourses is possible by way of relaxing rules and regulations.
Joint listing, trading
The Union of Arab Stock Exchanges was established in the year 2007 in a bid to enhance economic development and integration among Arab countries through harmonising the laws and regulations in force in the Arab stock markets to achieve efficiency and transparency.
The meeting discussed several issues including appointing a full time secretary-general, the draft internal regulation for the executive committee, mechanisms that will be followed by the union to implement its aims namely achieving optimum coordination levels and exchange of information, technical assistance and expertise.
Fourteen stock exchanges
The meeting also discussed streamlining the efforts to achieve effective control over the transactions in Arab markets, coordination and cooperation among members with relations to laws and regulations to achieve optimum level of harmony among them.
As many as 14 stock exchanges, including Kuwait Stock Exchange, Saudi Stock Exchange, Egyptian Stock Exchange, Bahrain Stock Exchange, Beirut Stock Exchange, Doha Securities Market, Tunis stock Exchange, Dubai Financial Market, Amman Stock Exchange, Abu Dhabi Securities Exchange, Muscat Securities Market and Libyan Stock Market, are members of the union.
Further, the officials also discussed various issues like eliminating the difficulties that hinder the Arab investment, expand its base, the performance of the Arab stock markets and encourage joint listing and trading in the Arab stock markets.
MUSCAT: Yahya bin Said Al Jabri, executive president of the Capital Market Authority (CMA), yesterday urged for strengthening cooperation among Arab stock exchanges to enhance foreign investment.
Addressing the fifth meeting of the Union of Arab Stock Exchanges here, the CMA cheif said that enhanced cooperation among Arab bourses will help attract foreign portfolio investment and encourage Arab investors to invest within the region.
"We hope to complete the basic infrastructure to achieve our aims as the union plays a vital role in Arab bourses," the Captial Market Authority executive president said, adding that integration of bourses is possible by way of relaxing rules and regulations.
Joint listing, trading
The Union of Arab Stock Exchanges was established in the year 2007 in a bid to enhance economic development and integration among Arab countries through harmonising the laws and regulations in force in the Arab stock markets to achieve efficiency and transparency.
The meeting discussed several issues including appointing a full time secretary-general, the draft internal regulation for the executive committee, mechanisms that will be followed by the union to implement its aims namely achieving optimum coordination levels and exchange of information, technical assistance and expertise.
Fourteen stock exchanges
The meeting also discussed streamlining the efforts to achieve effective control over the transactions in Arab markets, coordination and cooperation among members with relations to laws and regulations to achieve optimum level of harmony among them.
As many as 14 stock exchanges, including Kuwait Stock Exchange, Saudi Stock Exchange, Egyptian Stock Exchange, Bahrain Stock Exchange, Beirut Stock Exchange, Doha Securities Market, Tunis stock Exchange, Dubai Financial Market, Amman Stock Exchange, Abu Dhabi Securities Exchange, Muscat Securities Market and Libyan Stock Market, are members of the union.
Further, the officials also discussed various issues like eliminating the difficulties that hinder the Arab investment, expand its base, the performance of the Arab stock markets and encourage joint listing and trading in the Arab stock markets.
© Times of Oman 2011
