Muscat: Oman represented by the Capital Market Authority participated in 23rd meeting of the Presidents of GCC capital markets commissions through video conference as part of the GCC endeavours to enhance integration of the GCC capital markets, cooperation and exchange of expertise in the securities industry in the region.
The meeting discussed a number of topics related in the capital market sector and the joint projects between the member states besides reviewing the developments in the GCC stock markets. The meeting commended the efforts of the awareness team conducting the joint awareness campaign which was launched in November 2020.
To upgrade the efforts, the meeting adopted the proposal of the Kingdom of Saudi Arabia to prepare a unified investment awareness programme in the GCC markets to continue the joint awareness campaign through setting up integrated programme starting next year comprising monthly and weekly content for GCC investors and an award for GCC smart investor.
The meeting also approved the CMA’s proposal to organise an annual workshop for the employees of media departments of the GCC regulators and financial reporters to be executed in the first quarter of next year.
The meeting also discussed the legislative tools for cross border registration of financial products among the GCC regulators beside discussion of adding a third party for approving Know Your Customer requirements and account opening requirements and KYC procedures.