The Federation of Arab Security Authorities Discusses Capital Market Developments and Systemic Risks

Muscat – Oman: The Council of the Federation of Arab Security Authorities held its 16th meeting at the W Hotel Muscat yesterday to discuss a number of topics, the most important of which are the development of capital markets, the face of systemic risks, the support of liquidity and financial sustainability, cyber risks, fraud risks, financial technology, investor education and awareness and financial inclusion.
The meeting, hosted by the Capital Markets Authority, came within the framework of the efforts made among member states to improve ways of cooperating to upgrade the legislative and regulatory level of the Arab stock markets in order to achieve justice, efficiency and transparency, and to work to unite efforts to achieve effective levels of control over transactions in the markets, as well as to discuss Mechanism to address challenges, changes and developments in the regional and international arena.
His Excellency Abdullah bin Salem Al-Salmi, CEO of the Capital Markets Authority, explained that the interdependence of Arab economies requires cooperation and work within a balanced formula in legislative and regulatory frameworks that combine prudence and risk management on the one hand, and development on the other. innovation and innovation on the other hand. He stressed the need to regulate financial markets to ensure investor protection, contribute to comprehensive economic development, achieve the greatest possible degree of financial diversity and inclusion in it, and enable these markets to play their role. play in supporting growth and economic development in the member states of the Union. His Excellency explained that the rise in oil prices has a positive impact on the economies that depend on oil prices and therefore positively reflects on the performance of the financial markets, indicating that what is missing in the markets in the region, especially the Sultanate, , the primary market by seeing new releases in the primary market and products to find a recovery in the market, and note that the market We have seen an improvement from the beginning of the year to now, despite the geopolitical conditions, and the economy appears to be improving, which is reflected in the performance of the market in general.
In turn, the dr. Maryam Al-Suwaidi, President of the Federation for the 15th Session and CEO of the Securities and Commodities Authority in the United Arab Emirates, said: The Arab supervisory authorities were able to work during the year 2021, in cooperation with financial markets and governments. to overcome the impact of the repercussions of the Corona crisis on financial markets, and has continued to make significant achievements in the areas of oversight, updating legislation, regulation and enforcement, setting up appropriate frameworks and mechanisms to enhance its oversight capabilities. improve, and develop rules for transparency, disclosure, governance, education and awareness, in order to ensure the stability and balance of financial markets.
Jalil Tarif, Secretary-General of the Federation of Arab Security Commissions, said: During the year 2021, the trade union was able to strengthen its position in regional and international organizations and institutions, as the members of the trade union (3) sit on the board of the International Organization of Security Commissions, including the position of Vice-President Board of Directors and Chairman of the Committee on Growth and Emerging Markets, in addition to chairing the Regional Committee for Africa and the Middle East.
At the meeting, the Council discussed the Union’s annual report for the year 2021 and the key achievements made during the first year of the 2021-2025 strategic plan, in particular with regard to the completion of the work related to the multilateral memorandum of understanding for the exchange of information between the member states of the Union, in the light of the Council’s decision to approve and approve the text of the final memorandum And to have the memorandum signed by the members of the federation completed, the board decided to proceed with the procedures for enforcing the memorandum from May 11, 2022. The board also reviewed the report of the auditors and the final audited accounts of the federation for the fiscal year 2021 and decided to ratify it on the basis of the provisions of Clause Seven of Article (11) of the statute for the trade union.
On the sidelines of the Federation Council meeting, a memorandum of understanding was signed between the Federation of Arab Security Authorities and the Regional Center for Sustainable Finance of the Egyptian Financial Supervisory Authority, with the aim of improving cooperation in the field of self-sufficiency. related to sustainability, financial instruments for green economy, management, and the exchange of technical expertise and assistance in the field of sustainable finance, design and implementation of professional training programs in the field of sustainable development and finance. It is noteworthy that the year 2021 saw a clear growth that was significantly reflected in the indicators of global markets, as the data released by the World Federation of Exchanges indicates that the international financial markets significantly increase in the total market value of the world has achieved. financial markets, which reached $ 124.6 trillion, compared to $ 106.8 trillion in 2020, an increase of 16.7 percent. In terms of Arab financial markets, the market value of these markets increased at the end of 2021 compared to the level reached in 2020, reaching about $ 3.6 trillion, an increase of 16.1 percent.

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