The Ministerial Committee of the Financial Markets of the Gulf Cooperation Council (GCC) states held its third meeting in Riyadh on Wednesday, under the chairmanship of President of Saudi Capital Market Authority (CMA) Abdulrahman Al-Tuwaijri, SPA reported.
Addressing the meeting, Al-Tuwaijri stressed that the meeting aims to strengthen contacts between regulators of financial markets across the GCC, the integration of financial markets, and the unification of regulations and policies related to these markets as part of the implementation process of the directives of GCC leaders.
He lauded the efforts of the committee in carrying out the task assigned to it for studying the integration of the GCC capital markets and unification of policies and regulations related to these markets.
Al-Tuwaijri referred to the crisis witnessed by world financial markets and their limited impact on the GCC markets and stressed the importance of benefiting from such lessons so as to boost and integrate the GCC markets and their protection from any possible setbacks.
The agenda of the meeting includes draft laws on the legal structure of the GCC financial markets, disclosure regulations and corporate governance of listed shares (companies), he added.
Assistant GCC Secretary General Abdullah Al-Shibli addressed the meeting on behalf of GCC Secretary General Abdulatif Al-Zayyani and said the committee was entrusted to apply the GCC common market norms in the area of capital markets.
Unification of GCC’s capital markets discussed
