15^th Meeting of  GCC Securities Commissions Presidents’ Committee 

The Sultanate of Oman represented by the Capital Market Authority participated in the 15^th meeting of the Committee of the  Presidents of GCC securities commissions which was held on Sunday, 25 September 2016 at the Secretariat General  in Riyadh.

The Sultanate’s delegation was chaired by HE Sheikh Abdullah Salim Al Salmi, Executive President of CMA and membership of Ahmed Ali Al Makhaini, Expert at the Officer of the Executive President.

The meeting discussed the key issues and development in the region and reviewed  the minutes of the work teams and their recommendations.

The meeting reviewed the minutes of the second meeting of the  Work Team of GCC Stock Markets’ Strategy and approved the terms of reference for preparation of strategic study and mechanisms for integration of GCC markets so as the Secretariat General can address the specialized companies to prepare the study and commence the project. They also discussed the minutes of the 12^th meeting of the Supervision and Regulation Team which included approval of the SMART system and that the Securities and Commodities Authority of the United Arab Emirates will address the supplier company. As to unification of trading timings they agreed to distribute a draft among the stock markets for their comments and then to be reviewed by the next meeting of the Presidents of the securities commissions on the potential of unification of trading timings

The meeting discussed the memo of the Secretariat on the creation of a website  to display the training programmes and  working papers prepared and published by the regulators. The agreed on the general framework of the website to be supervised by the Kuwaiti Capital  Market Authority.