Qatar makes impact in strengthening integration frameworks in Arab capital markets

28/04/2025 02:48 AST

Qatar's presidency at the Union of Arab Securities Authorities (UASA) board had great impact in strengthening co-operation and integration frameworks.

This was acknowledged at the 19th annual meeting of the UASA board, which was held on Thursday via video conferencing.

In a speech addressed to the participants in the meeting, Dr Tamy bin Ahmad al-Binali, the outgoing UASA president and the the chief executive officer of the Qatar Financial Markets Authority, extended his thanks and appreciation to the UASA members for their support, constructive co-operation and efforts during the presidency of Qatar, which lasted a whole year and had a "great impact" on the success of many joint initiatives and programmes.

Stressing that the past period was full of challenges and opportunities, he however said it was punctuated by joint hard work focused on supporting the financial markets, strengthening cooperation and integration frameworks among them, and developing their performance to remain in the lead, in a way that puts them in the ranks and forefront of financial markets.

During the meeting, the UASA board discussed a report on the work carried out in the period and reviewed a number of memos of the UASA's General Secretariat regarding the guidelines for issuing Islamic Sukuk in the Arab capital markets, considering the dealings of financial services companies in Arab capital markets with foreign stock exchanges, and considering facilitating the requirements of fulfilling "know your customer" (KYC) due diligence in financial and banking institutions.

The meeting discussed the study of enhancing co-operation in financial technology and cybersecurity risks for the UASA members, and the study of enhancing financial inclusion in the Arab capital markets.

Gulf Times