GCC financial market institute proposed

Updated 15 August 2013
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GCC financial market institute proposed

The General Secretariat of GCC countries is considering a proposal submitted by the United Arab Emirates to establish a training institute specializing in financial market operations prior to the formal launch of the GCC common market.
Another proposal by Kuwait to establish an information and data center for financial markets will be reconsidered by the General Secretariat. The center will be headquartered in Kuwait.
Chairman of the organizers of financial markets committee has emphasized the importance of submitting regular reports to the secretariat on the application of unified rules concerning the listing of financial instruments, as well as suggestions for improving and developing them, according to forms prepared by the team of listing, disclosure and governance.
The proposal by the UAE suggested that the General Secretariat be included as a strategic partner while delivering services of the training institute to all organizers of the financial markets. The institute will be the foundation for the establishment of another institute which will be dedicated to development of staff specializing in the supervision of financial markets.
Sources told local media that the ministerial committee agreed to form a team comprising experts in training and studies. Members of the team will be sent to the organizers of the financial markets for selection process, and for proposing necessary mechanisms for cooperation and integration of institutions working in the financial field.
Regarding Kuwait’s proposal for the establishment of an information and data center for financial markets, the ministerial committee decided that a study needs to be conducted on best global practices in establishing such a center.


Saudi-led coalition rescue young girl being used as ‘human shield’ by Houthis in Yemeni conflict

Updated 15 min 8 sec ago
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Saudi-led coalition rescue young girl being used as ‘human shield’ by Houthis in Yemeni conflict

  • The Saudi-led coalition spokesperson Col. Turki Al-Malki stated on Saturday that a four-year old baby girl named Jamilah had been rescued
  • The Joint Forces of the Coalition, represented by its Child Protection Unit, provided necessary medical care for the child

RIYADH: The Saudi-led coalition spokesperson Col. Turki Al-Malki stated on Saturday that a four-year old baby girl named Jamilah had been delivered to a representative of the legitimate government of Yemen.
In the presence of representatives of International Red Crescent, Human Rights Council and director of the Child Protection Unit in the Joint Forces Command of the Coalition, aimed at restoring legitimacy in Yemen.
Al-Malki explained that the Yemen National Army captured the child’s father during operations in the Sa’dah governorate.
Al-Malki clarified that during the advance of the YNA forces, an armed vehicle, that was driven by a Houthi armed militant, attacked YNA forces.
During the monitoring process, it was made clear that there was a child onboard.
That is when the YNA forces took all precautionary and preventive measures to ensure the safety of the child.
After the vehicle was damaged and prevented from further advancement, and during the apprehension of the driver, who was identified as an Iranian-Houthi militia field commander carrying advanced tactical weapons, a 4-year-old girl was found dressed in boys clothes.
It was discovered that the driver was her father, and that her presence in the battlefield was for the reason of being used as a ‘human shield’, as the Houthi militia is familiar with the Coalition’s rules of engagement, especially those that relate to child protection.
The Joint Forces of the Coalition, represented by its Child Protection Unit, provided necessary medical care for the child, and coordinated the return of the child to her family.
She was delivered to the legitimate government of Yemen, in the presence of her family and relatives, on Saturday.
The Joint Forces Command provided financial aid to the girl’s family.
Col. Al-Maliki asserted that Houthi militia is flagrantly defying international humanitarian law through recruiting children, throwing them into the battlefield and using them as human shields to ensure the safety of their movements.