The Sultanate of Oman represented by the Capital Market Authority participated in the 22^nd meeting of the Committee of the Chairpersons of Capital Market Commissions of the GCC through video conference as well as well as the 3^rd joint meeting between the Chairpersons of the Commission and the Heads of the GCC stock exchanges to enhance the integration of the GCC capital markets, cooperation and exchange of expertise for the advancement of the securities industry in the region.

The meeting discussed a number of topics related to the capital market sector and the joint projects between the member countries as well as reviewing  the developments in the GCC capital markets. The Committee was briefed on the  key decisions of the Ministerial Committee of the Chairpersons of the GCC regulators in its 9^th meeting which approved the initiative that would contribute to the coordination between the regulators to be included in the paper of the Secretariat General as priority for GCC common work in the after the Coronavirus  pandemic period in  the field of integration of the GCC capital markets.

The Committee reviewed the results of the GCC Investment Awareness Campaign which is a joint awareness program between the GCC capital markets’ regulators which executed campaigns on “Basics of Investment” executed by the Saudi Capital Market Authority and “Think  before Investing”  executed by Kuwaiti Capital Market Authority.

The third joint meeting between the Committee and the stock exchanges followed up the previous discussions on the unification of investor number and the requirements for opening  accounts, know your customer and brokers’ trading through the passporting system. The meeting concluded with proposals on the execution mechanisms of the central clearing in the GCC capital markets “electronic link between the markets and clearing systems.”

It is worthy to note that the CMA is keen to attend the regular meetings to enhance the level of cooperation among the supervisors of the GCC capital markets and for exchange of expertise and to work together with the representatives of GCC regulators for the benefit of the national economies of the member countries.