The Capital Market Authority  participated with its GCC counterparts in the ninth meeting of the ministerial committee of the  Chairmen of the GCC securities commissions held on Tuesday September 22, 2020  via video conference. HE Sheikh Abdullah Salim Al Salmi, Executive President represented CMA in the meeting which was attended by a number of CMA officials.

The meeting approved the initiatives and priorities which would expand the coordination  among the GCC securities commissions. The initiatives would be implemented gradually in accordance with mutual recognition program “Passporting” between the regulators of the capital markets and to work to ease the requirements of investment accounts opening, encouraging  listing and trading of bonds and Sukuk in the stock markets of the GCC, encouraging cross listing  of companies and funds in the GCC stock markets as well as encouraging capital market institutions to consider electronic linking with settlement,  clearing and depository  institutions  existing in the GCC states.

The meeting also approved  organizing a workshop on the products and derivatives in the stock markets beside  approving  an implementation  plan  for joint investment awareness campaigns and assigned the strategy team to set up a regulatory framework for cross  licensing of investment funds between the regulators of the GCC stock markets.