The Qatar Financial Markets Authority participated in the seventeenth meeting of the Council of the Federation of Arab Securities Authorities, which was held yesterday, Monday, in Riyadh, Kingdom of Saudi Arabia, in the presence and participation of representatives of the federation’s member states.
The Authority participated in the meeting with an official delegation headed by His Excellency Mr. Tami bin Ahmed Al-Binali, Chief Executive Officer.
The meeting discussed and approved the federation’s annual report for the year 2022, in addition to issues of concern to Arab securities authorities, especially with regard to enhancing aspects of cooperation and coordination among them. The federation’s financial statements have also been approved.
The meeting’s agenda included discussing a number of memorandums from the Federation’s General Secretariat represented in the work carried out under the work plan and the Federation’s work program for the year 2022, studying the reality of financing for microenterprises, studying the rules and principles of sustainability in non-bank financial markets, and issuing a guiding document on investor rights.
The meeting also discussed the memorandum of the federation’s general secretariat regarding the issuance of approved guiding principles on the uses of artificial intelligence and machine learning, and the preparation of a model for assessing cyber risks and measuring the commitment of entities subject to the control of members.
The meeting also discussed a number of other memorandums of the federation’s general secretariat regarding the signing of the memorandum of understanding with the Chartered Institute for Securities and Investment (CISI), the federation’s work plan and program for 2023, the formation of work teams to implement the goals and initiatives of the federation’s strategic plan, and the training plan for 2023, in addition to Discussing the latest developments and future projects for the members of the union.
The Federation of Arab Securities Authorities was established in 2007 as an independent, non-profit organization with legal personality and headquartered in the United Arab Emirates.
The federation includes in its membership securities commissions and market regulators. It aims to raise the legislative and regulatory level of the Arab stock markets in order to achieve justice, efficiency and transparency, and work to unify efforts to reach effective levels of control over transactions in the Arab stock markets, as well as cooperation and joint coordination among the members of the union to achieve maximum harmony and compatibility with regard to laws. and related systems. The federation also aims to overcome the difficulties that hinder investment in the Arab stock markets, expand its base, diversify its tools and deepen the investment culture, as well as deepen the concepts of disclosure, transparency and governance, and apply the best international standards and practices.
