The Arab Securities Authorities, members of the Union of Arab securities Authorities “UASA”, have made considerable progress, as part of endeavors to enhance Arab financial markets, especially in the areas of market development, oversight and regulation. The recent developments and continuous changes in the global financial markets require further steps to develop appropriate frameworks and mechanisms in order to enhance the UASA members’ oversight capabilities and to ensure the stability of the Arab financial markets.
Our financial authorities are invited to adopt best practice regulations to enhance governance, investor protection and the efficiency of the markets. Such measures include investors awareness, sound intermediaries, issuers with a high degree of commitment to transparency and disclosure, in addition to the existence of robust and reliable trading platforms supported by effective and secure settlement, clearing and custody mechanisms.
The Arab financial markets’ regulators are also seeking to increase liquidity and have deeper and more diversified markets. They are also aiming at increasing the participation of collective investment schemes, be it mutual funds or other.
Needless to say the Union of Arab Securities Authorities has a significant role in developing Arab Capital Markets, through the achievement of the Union objectives, especially via cooperation, benefiting from the experience of its various members and facilitating cross listing and the flow of funds through coordination to achieve maximum harmony and consistency with regards to laws and regulations related to the Arab capital markets, reflecting the strategic plan of the Union, which was approved during UASA’s tenth annual board meeting in Cairo indicating the future path and the goals given priority to be achieved in the next five years 2016 – 2020.