Presidents of GCC Capital Markets hold their 23^rd Meeting

Integrated Awareness Program and GCC Smart Investor Award

The Sultanate of Oman represented by the Capital Market Authority participated in 23^rd meeting of the Presidents of GCC capital markets commissions through video conference as part of the GCC endeavors to enhance integration of the GCC capital markets, cooperation and exchange of expertise in the securities industry in the region.

The meeting discussed  a number of topics related in the capital market sector and the joint projects between the member states beside reviewing the developments in the GCC stock markets. The meeting commended  the efforts of the awareness team conducting the joint awareness campaign which was launched in November 2020. To upgrade the efforts, the meeting adopted the proposal of the Kingdom of Saudi Arabia to prepare a unified investment awareness program in the GCC markets to continue the joint awareness campaign through setting up integrated program starting next year comprising monthly and weekly content for GCC investors and an award for GCC smart investor. The meeting also approved the CMA’s proposal to organize an annual workshop for the employees of media departments of the GCC regulators and financial reporters to be executed in the first quarter of next year.

The meeting also discussed the legislative tools for cross border registration of financial products among the GCC regulators beside discussion of adding a third party for approving Know Your Customer requirements and account opening requirements and KYC procedures.

It is worth to note that the CMA is keen to attend the regular meetings to enhance the level of cooperation between the supervisors of the capital markets and exchange of expertise  to promote the industry for the service of the national economies of GCC states.