The Sultanate represented by the Capital Market Authority participated in the 8th meeting of the heads of GCC securities Commissions which was held in Manama, Bahrain in April. The Sultanate’s delegation was chaired by EH Sheikh Abdullah Salim Al Salmi, Executive President of CMA and the membership of Mahmoud Hamoud Al Rawahi, Stock Market’s Expert and Abdulhameed Talib Al Saadi, Legal Researcher at CMA.
The meeting discussed a number to topics pertaining to stock markets including the appropriate methods for follow up of the unified rules for offering of shares in the GCC stock markets, unified disclosure rules for listed securities and unified corporate governance rules for listed companies in the member countries.
The meeting also reviewed the recommendations of the meetings of work teams including the results of listing, disclosure and corporate governance work team on the application of the unified rules for listing securities and the proposal for development, the recommendations of the initial offerings work team, the results of the supervision and regulation work team in the GCC stock markets. The meeting agreed to organize a workshop on transparency in preparing financial statements using XBRL electronic disclosure system and the latest developments in the GCC Stock markets.