CmaBoardReleases
Title: Press Release: The Capital Markets Authority Participates in the 18th Meeting of the Union of Arab Securities Authorities, 28th Meeting of Heads of Capital Markets Authorities Committee (or their equivalent) in GCC Countries, and 5th Meeting with Heads of Markets (Securities Exchanges)
Kuwait, April 25, 2025 - The Capital Markets Authority (CMA) participated in the18th meeting of the Union of Arab Securities Authorities on Wednesday April 24, 2024, in Doha, Qatar. The CMA was represented by Prof. Ahmad A. AlMelhem - Chairman of CMA Board of Commissioners and Managing Director with the participation of the Union’s Secretariat and the member countries.
This meeting was held to monitor developments in the Arab financial markets at various levels and to confirm the joint efforts and cooperation among them for mutual benefit and service of their objectives. The meeting was opened with a welcoming remarks by His Excellency Dr. Tamy Al-Binali – the Chief Executive Officer of the Qatar Financial Markets Authority, welcoming the representatives of the member countries, His Excellency Khaled Al-Homoud – Chairman of the Union and Board Member of Capital Market Authority – Kingdom of Saudi Arabia, and His Excellency Jalil Tarif – Secretary General of the Union. The agenda included several items, such as the Union’s annual report to be approved, the Secretariat General’s memo on the accomplishments in the 2023 action plan, guiding principles for crowdfunding, general rules of sustainability, cybersecurity enhancement, the Secretariat General’s memo on signing a memorandum of understanding with the International Capital Markets Association (ICMA), discussion of the Union’s action plan for the current year, training plan, and concluded with the discussion of the Union’s future projects.
Moreover, the CMA participated in the 28th meeting of Heads of Capital Markets Authorities Committee (or their equivalent) in GCC Countries and the 5th Meeting with Heads of Markets (Securities Exchanges) on Thursday April 25,2024, represented by Prof. Ahmad A. AlMelhem - Chairman of CMA Board of Commissioners and Managing Director. This periodic meeting follows up the updates and developments between the capital markets regulators. The meeting was chaired by His Excellency Dr. Tamy Al-Binali – the Chief Executive Officer of the Qatar Financial Markets Authority (Chairing Country - Qatar) with the participation of the Assistant Secretary General for Economic and Development Affairs at the General Secretariat of the GCC, Mr. Khaled Bin Ali Al-Sunaidi, their Excellencies the Heads of the Boards of Directors, and the GCC General Secretariat, namely Her Excellency Dr. Maryam Al Suwaidi – CEO of Securities & Commodities Authority (UAE), Ms. Abeer Sheikh Ibrahim Al Saad – Director of Capital Markets Supervision Directorate - Central Bank of Bahrain - Kingdom of Bahrain, His Excellency Mr. Youssef Bin Hamad Al-Bilihid, Vice Chairman of the Capital Market Authority Board – Kingdom of Saudi Arabia, His Excellency Mr. Abdullah bin Salim Al-Salmi – Executive President of Capital Market Authority, Sultanate of Oman, and His Excellency Mr. Khalid Saif Al-Sulaiti – on behalf of Qatar Financial Markets Authority – State of Qatar.
At the start of the meeting, discussions focused on monitoring the resolutions of Heads of Capital Markets Authorities Committee (or their equivalent) in GCC Countries passed in its 27th meeting, then moved to the updates regarding the completion of internal procedures by member countries to activate the regulatory framework and approve the investment funds’ passporting bylaws. The Committee was also briefed on the highlights of the Smart Investor Award 2023 and the performance indicators of Mulim program 2023, in addition to the program’s plan for 2024 prepared by the team specializing in communication and investors awareness at the capital markets regulators. On another front, the Committee reviewed the progress of the work of the memorandum of understanding between the capital markets regulators, the cooperation initiatives, and the mutual works.
Furthermore, the Committee discussed the scheduled topics for the fifth joint meeting with Heads of Securities Exchanges, following a preceding meeting with them.
In conclusion, it was agreed to set November 10, 2024, as the date of the next meeting of the Committee of Heads of Capital Markets Authorities, with November 11, 2024 scheduled for the Ministerial Committee meeting.
Ends-
Notes to Editors:
The Capital Markets Authority (CMA) of Kuwait was established pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments, approved by the Kuwaiti Parliament in February 2010. Under this Law, the CMA regulates and supervises securities activities, ensures transparency, fairness, efficiency, and observes listed companies’ implementation of Corporate Governance regulations. The CMA also protects investors from unfair practices and violations of the CMA's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.
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