HE Abdullah Salim Al Sami, Executive President of the Capital Market Authority signed two memoranda of understanding with the Commission of Surveillance of Financial Sector in Luxembourg and Jordan Securities Commission in the presence of HE Yahya Said Al Jabri, Chairman of the Board of Directors of Dqum Special Economic Zone and Chairman of the Board of Directors of the Capital Market Authority no Tuesday 17^th September 2013 on the sidelines of the 38^th meeting of IOSCO in the Grand Duchy of Luxembourg.

The MOU was signed by Mr. John Guill,  Director General of the  Commission of Surveillance of Financial Sector and includes a number of clauses focusing on enhancing investor protection and soundness of stock markets through  the provision of a work frame and upgrading the level of mutual understanding  on the exchange of information and professional expertise between the two countries. They agreed on training of employees and development of human resources for efficiency of work and to encourage the institutions of the capital market in the two countries including stock markets, depository and clearance institutions and financial services companies and cooperation with regard to dispute resolution.

The MOU includes work to removing obstacles facing investors in securities in addition to cooperation in law enforcement with regard to enforcement of laws and regulations  relating to issuance of securities and other investment instruments, management and provision of advice, cooperation in supervising markets, and clearance and settlement activities and ensuring application of high standards for fair and integral professional conduct.

The MOU concluded with Jordan Securities Commission which was represented by Mr. Mohammed Saleh Al Horani, Chief Executive Officer, included work to achieve cooperation, exchange of technical information and  expertise to upgrade the processes regulating the capital markets in the two countries including  issuance, registration, listing and trading of securities, financial services, mutual  funds and training of employees working for capital market institutions, and in the field of investment awareness among the public.

The MOU emphasizes  the importance of cooperation and exchange of cooperation  to boost the efficiency of regulatory systems and enhance the rule of law, prevention of unsound practices. Both commissions are obligated to cooperate and exchange information and providing each other with any requested information to the extent not conflicting with the public interest.

They will work to achieve  cooperation among capital market  institutions in the two countries including stock markets, depository and clearance institutions and financial services companies, they will also work together to enhance cooperation with regard to their membership in Arab and international organizations and their participation in the events of such organizations.