HE Abdullah Salim Al Salmi, Executive President of the Capital Market Authority and  HE Dr. Nayef Falalf Al Hajraf,  Chairman of the Board of Commissioners of the Capital Market Authority of Kuwait have signed a memorandum of understanding for the exchange of information and mutual cooperation on Wednesday 7 October 2015 in the presence of Ahmed Saleh Al Marhoon, Director General of Muscat Securities Market, Abdullah Ahmed Al Nabhani, Director General of Muscat Clearing and Depository Company, Ahmed Said Kashob, Chairman of Oman Securities Association and a number of senior staff of CMA, MSM and MCDC.

The aim of the MOU is to enhance cooperation between the two authorities to develop the legislative infrastructure of the securities markets and to benefit from the experiences of both countries whether with regard to investment instruments, regulations and  clearing and depository systems as well the practices in the regulation of the companies operating in securities and promotion of the brokerage profession.

The MOU includes  a number of clauses on exchange of information to enhance investor protection and the integrity of the stock markets by providing a framework for cooperation and upgrading the mutual understanding based on exchange of information and professional expertise between the two countries. They agreed on exchange of information and mutual cooperation, encouraging  cooperation between capital market institutions including stock markets, clearing and depository institutions, financial services companies and dispute resolution according to the applicable laws and regulations.

The MOU included problem solving for investors in securities in addition to cooperation in enforcement of the  laws and legislations pertaining to securities and other investment instruments, advices and cooperation in supervising the markets, clearing and depository systems, monitory compliance and application of high standards of fairness, integrity and professional conduct.