CMA Participates in the GCC Regulators Meeting in Saudi Arabia

Proposal to create  a central body for integration efforts

The Sultanate of Oman represented by the Capital Market Authority participated in the 14^th meeting of the Committee of the  Presidents of GCC securities commissions which was held on Sunday, 3 April 2016 in the Kingdom of Saudi Arabia.

The Sultanate’s delegation was chaired by HE Sheikh Abdullah Salim Al Salmi, Executive President of CMA and Muneer Salim Al Hanaei, Senior Director of the Department of Enforcement at the CMA.

The meeting discussed the key issues and development in the regional and global markets and the decisions of the Supreme Council in its  36^th Session held in Riyadh in December.

The meeting discussed a proposal  to create a central GCC  regulatory body to regulate GCC stock markets with full powers in preparation and review of regulations, standards and principles  regulating the  GCC markets.

The Committee also discussed  the strategic objects for integration of  GCC markets and the initiatives which would achieve such objects so as the GCC nationals can invest and trade without discrimination and to open the markets for  new products. The representatives considered the study prepared on the ownership ratios of juristic  persons in GCC public companies and trading timings in GCC markets.

The meeting reviewed the efforts of the training and qualification team which included the results of training during the past year and the proposed training programmes in 2016  in addition to the continued professional education.