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Kuwait, 16th October 2014 – Kuwait Capital Markets Authority hosts today the fifth meeting of the Ministerial Committee of Board Chairpersons of GCC Market Regulators, which is also attended by the GCC Secretariat-General. The meeting is headed by Dr. Nayef Falah Al-Hajraf – Chairman of the Board of Commissioners and Executive Manager, on behalf of Dr. Abdulmohsen Medeij Al-Medeij – Minister of Commerce and Industry.
The meeting will start with a summary review of the economic decisions made by the 34th GCC Supreme Council meeting held in Kuwait last December, and a discussion of the memorandum of understanding among the GCC capital markets regulators before signing it. The committee will also discuss the unified principles and rules for GCC market integration based on the recommendation of the Committee of the GCC Capital Markets Authorities Chairpersons in its 11th meeting in Kuwait, which include the unified rules of listing, disclosure, corporate governance, issuance of bonds and sukuk, investment funds, and supervision of trading in the capital markets.
Light will be shed on the suggestion given by Kuwait Capital Markets Authority during the 11th meeting of the Chairpersons Committee which stipulates holding a mutual meeting between the governors of the monetary institutions, the central banks, and the GCC Ministerial Committee of Board Chairpersons of Market Regulators to exchange points of view regarding the mutual matters of supervision.
Additionally, the minutes of the 10th and 11th meetings of the Committee of Heads of GCC Market Regulators will be reviewed.
Participants include U.A.E delegation headed by H.E. Abdullah Salem Al-Turifi - Chief Executive Officer, Securities & Commodities Authority (SCA), Bahrain delegation headed by H.E. Rasheed M. Al Maraj – Governor of Central Bank of Bahrain, Saudi Arabia delegation headed by H.E. Mohammed bin Abdulmalik Al-Sheikh - Chairman of the Capital Market Authority, Sultanate of Oman delegation headed by H.E. Yahya Bin Said Al-Jabri - Chairman of the Capital Market Authority and Chairman of the Special Economic Zone Authority at A'Duqum, Qatar delegation headed by H.E. Abdullah bin Saud Al Thani - Governor of Qatar Central Bank (QCB), Kuwait delegation headed by H.E. Mishaal M. Al-Usaimi - Vice Chairman of the Capital Markets Authority, as well as the GCC Secretariat-General delegation headed by H.E. Abdullatif bin Rashid Al Zayani - Secretary-General of the Gulf Cooperation Council.
The 4th meeting of the Ministerial Committee of the Board Chairpersons of the GCC Market Regulators which was held in October 2013 in Riyadh tackled many recommendations submitted by Capital Markets Authorities Chairpersons Committee regarding many topics, among which is the project of the unified rules of issuing and offering the investment funds, the unified rules of trading supervision in the GCC countries, and the unified rules of issuing bonds and sukuk, which are considered important steps for unifying the policies and regulations of the capital markets in the Gulf countries to achieve the sought integration.
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
CMA LAW: The Fifth Meeting of the Ministerial Committee of the Board Chairpersons of GCC Market Regulators
Date Publish
16 October 2014
Kuwait, 16th October 2014 – Kuwait Capital Markets Authority hosts today the fifth meeting of the Ministerial Committee of Board Chairpersons of GCC Market Regulators, which is also attended by the GCC Secretariat-General. The meeting is headed by Dr. Nayef Falah Al-Hajraf – Chairman of the Board of Commissioners and Executive Manager, on behalf of Dr. Abdulmohsen Medeij Al-Medeij – Minister of Commerce and Industry.
The meeting will start with a summary review of the economic decisions made by the 34th GCC Supreme Council meeting held in Kuwait last December, and a discussion of the memorandum of understanding among the GCC capital markets regulators before signing it. The committee will also discuss the unified principles and rules for GCC market integration based on the recommendation of the Committee of the GCC Capital Markets Authorities Chairpersons in its 11th meeting in Kuwait, which include the unified rules of listing, disclosure, corporate governance, issuance of bonds and sukuk, investment funds, and supervision of trading in the capital markets.
Light will be shed on the suggestion given by Kuwait Capital Markets Authority during the 11th meeting of the Chairpersons Committee which stipulates holding a mutual meeting between the governors of the monetary institutions, the central banks, and the GCC Ministerial Committee of Board Chairpersons of Market Regulators to exchange points of view regarding the mutual matters of supervision.
Additionally, the minutes of the 10th and 11th meetings of the Committee of Heads of GCC Market Regulators will be reviewed.
Participants include U.A.E delegation headed by H.E. Abdullah Salem Al-Turifi - Chief Executive Officer, Securities & Commodities Authority (SCA), Bahrain delegation headed by H.E. Rasheed M. Al Maraj – Governor of Central Bank of Bahrain, Saudi Arabia delegation headed by H.E. Mohammed bin Abdulmalik Al-Sheikh - Chairman of the Capital Market Authority, Sultanate of Oman delegation headed by H.E. Yahya Bin Said Al-Jabri - Chairman of the Capital Market Authority and Chairman of the Special Economic Zone Authority at A'Duqum, Qatar delegation headed by H.E. Abdullah bin Saud Al Thani - Governor of Qatar Central Bank (QCB), Kuwait delegation headed by H.E. Mishaal M. Al-Usaimi - Vice Chairman of the Capital Markets Authority, as well as the GCC Secretariat-General delegation headed by H.E. Abdullatif bin Rashid Al Zayani - Secretary-General of the Gulf Cooperation Council.
The 4th meeting of the Ministerial Committee of the Board Chairpersons of the GCC Market Regulators which was held in October 2013 in Riyadh tackled many recommendations submitted by Capital Markets Authorities Chairpersons Committee regarding many topics, among which is the project of the unified rules of issuing and offering the investment funds, the unified rules of trading supervision in the GCC countries, and the unified rules of issuing bonds and sukuk, which are considered important steps for unifying the policies and regulations of the capital markets in the Gulf countries to achieve the sought integration.
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
Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.
