العنوان: The Capital Markets Authority Participates in the 4th Ministerial Committee Meeting and the 9th Committee Meeting of the GCC Capital Markets Authorities heads in Riyadh

Kuwait, 6th October 2013 – Kuwait delegation of the Capital Markets Authority participated in the exceptional committee meeting of the GCC Capital Markets Authority heads which was held today in the Secretariat General headquarters in Riyadh, with the participation of the member states' representatives and the Secretariat General. Kuwait delegation included Dr. Mahdy I. Al-Jazzaf – Vice Chairman of the CMA Board of Commissioners, and Mr. Moayed Adnan Al-Shakhs – CMA Chairman Office Manager and Acting Manager of Public Relations and Media Office.
The meeting approved the member states' notes regarding the final amendments of the unified rules of listing securities in Gulf countries. The committee recommended passing the unified rules of listing the securities (shares, bonds & Sukuk) to the Ministerial Council for approval. The Committee also recommended continuing the implementation of the unified rules of listing the investment funds' units in the capital markets, in addition to authorizing the Ministerial Committee of the board of directors heads of the GCC capital markets regulatory authorities in the member states or the Ministerial Council to follow the adopted procedures and review and amend them whenever needed, provided that such rules shall be implemented as guidelines only to be followed for two years. The Committee approved the Memorandum of Understanding for the capital markets regulatory authorities. The Committee also perused the results of the Initial Public Offerings and Subscriptions work team in the Gulf countries, and the letter submitted by UAE Securities and Commodities Authority regarding the suggestion of activating the role of the International Organization of Securities Commissions and increasing the role of the Gulf authorities in the Commission.
The 4th Ministerial Committee Meeting of the board of directors' heads of the GCC capital markets regulatory authorities in the member states chaired by H.E. Rasheed Al Maraj - Governor of the Central Bank of Bahrain (the chairing country) and H.E. Dr. Abdullatif Al Zayani -  Secretary General of the Gulf Cooperation Council. The meeting approved the recommendations passed by the Committee of the Capital Markets Authorities Heads in the Gulf countries. Kuwait delegation was represented by Dr. Mahdy I. Al-Jazzaf – Vice Chairman of the CMA Board of Commissioners.


Clarification 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, oblige the listed companies to execute the Corporate Governance Principles, and protect the investors from the unfair practices which violate the Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of the merger, acquisition, and disclosure operations. The Authority also aims at providing awareness programmes related to securities activities. 
For more information kindly contact:

Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org