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On Wednesday March 6.2013, Jordan Securities Commission (JSC) will hold a workshop in its headquarter concerning the “Instructions of Issuing Companies Disclosure, Accounting & Auditing Standards for the year 2004 & Preparing Annual Reports of Public Shareholding Companies”.
This aim of this workshop stems from the Commissions’ duties & responsibilities to spread the awareness & culture of investing in the securities market among all concerned parties. As well as, to stress the importance of disclosure & transparency to all listed companies in the Amman Stock Exchange (ASE).
The ‘Workshop’ will emphasize the importance of the Instructions of Disclosure for Public Shareholding Companies in the capital market & the exchange of ideas & suggestions with the representatives of these companies.
Furthermore, the ‘Workshop’ will concentrate on proper methods to be used when preparing Annual reports. It will also indicate major mistakes of previous years’ Annual Reports & how to avoid this in the future. Moreover, it will deal with Periodic Data & Reports used as the main reference to any investment decision in the market & preparing these to cope with the Securities Law & the Instructions of Issuing Companies Disclosure, Accounting & Auditing Standards for the year 2004.


Islamic Finance News (IFN) returns to Oman with the IFN Oman Forum & Dialogue in partnership with the Capital Market Authority, Sultanate of Oman (Oman CMA) held at the new Grand Millennium Muscat Hotel. The Islamic finance sector in Oman has gone through a commendable growth rate, highlighting the growing prominence of Shariah compliant finance in its economy. Having hosted the IFN Seminar and Dialogue in 2016 together with the Oman CMA.
The Center organized a workshop held in Grand Hormuz Hotel on the new Code of Corporate Governance , with the participation of Chairman and members of the Board of Directors and the executive management of the company VOLTAMP Energy.

The program included and emphasize on the importance of companies and their status and principles for controlling economic institutions’ affairs according to good governance practices that ensure its safe conduct activities and achieve the best levels of performance. The agenda of the program introduced the participants to know the historical roots to establish the concept of governance and how it has become a necessity sought by the company in the conduct of administrative and financial affairs with a review of the experiences of international countries in activating the foundations and principles of corporate governance and their effects in improving their performance and ability to meet the challenges, crises and market volatility.
The workshop program included a definition of the main four bases of corporate governance which are; accountability, transparency, justice and responsibility, under which the six principles of governance come; which are, the general framework , shareholders rights, and equal treatment of shareholders, role of stakeholders, disclosure and transparency, responsibility of the borad, and mechanisms of the Board of Directors, and how governance practices reflect on the operational performance, improve productivity and enhance the efficiency of external capital level of confidence. With regard to the development of the members of the Board of Directors skills, the program included topics related to the nature of the work of the Board and the powers entrusted to it, and the importance of separating the executive management of the Baord and the nature of the structural composition of the Board and the quality of its committees and how they can be members of the Board and its committees shall exercise their powers while avoiding conflicts of interest the program dealt with .
It also reviewed how the formation an effective Board of Directors in a way that contribute to enhance performance and increase efficiency through the appropriate combination of members with their skills and abilities commensurate with the powers entrusted to them. The program also stressed the importance of independent member and how to choose them as the existence of independent members can provide more guarantees for market participants to secure their interests. It has been also identified the importance of the Board 's committees and the definition of the Standing Committees and functional commissions and the considerations that must be introduced when the formation of committees. The program also emphasized the role of the Secretary of the Board of Directors and the method of choosing so .
On the other hand , it devotes a large time of the program to talk about the role of the Board of Directors in developing a strategy and performance monitoring through which the Board can invest the available resources to achieve the company's goals and overtake expected challenges. And also it discussed how to achieve interaction between the Board of Directors and the executive management of the company, and how the governance can contribute to risk management as to talk about many topics related to the role of the Board in the disclosure of information, transparency and the development of systems and mechanisms so as to achieve greater clarity and enhance the level of customer confidence.
The first Corporate Governance Conference was held under the patronage of Qatar Financial Markets Authority (QFMA) and by organizing of Hawkama Center, supported by major banks and public shareholding companies in Qatar, during the one-day sessions, the conference highlighted the Governance Code for Companies & Legal Entities Listed on the Main Market, and the Corporate Governance Code for Companies listed on the Venture Market” issued by QFMA, as well as reviewing corporate governance practices at the local and international levels and presenting the international best practices and experiences.
This conference comes as a part of the QFMA’s implementation of its strategic plan under Qatar National Vision 2030 with anticipating a positive future vision that reflects the QFMA’s objectives based on the Qatar National Development Strategy and the financial sector objectives to enhance the public interest and improve the Qatari capital market. He also pointed out that such efforts culminated in the top ranking of the Qatari market among the Arab world according to most international classifications of the capital market in 2016, and upgrading the Qatari market to emerging market status in three of the largest international investment indicators.
The Qatar Financial Markets Authority (QFMA), in collaboration with the Union of Arab Securities Authorities (UASA), held a specialized training program on "Combating Financial Crimes". The two-day training program was participated by 144 trainees representing 51 entities in the State, including professionals and those working within financial services industry, involved in regulation, law enforcement, trade and commerce, as well as private sector.
The program addressed various issues related to financial crimes, including money laundering, terrorist financing, bribery, corruption and fraud, along with the practical defences, and focuses on how laws, regulations and best practice continue to evolve across the entire spectrum of associated activities. 
CMA concluded the events of its first awareness program for 2017 through an awareness workshop which covered “Early warning indicators relevant to securities activities”.
The workshop covered various aspects, as the most important being:

• Importance of early warning indicators.
• Economic Indicators.
• Indicators related to combined financial positions of listed companies in Boursa Kuwait
• Indicators related to the activity of Boursa Kuwait
• General Index
“ Capital Markets Development in the State of Kuwait” was the title of CMA’s second annual conference. The one-day conference was held on Sunday March 26, 2017 in Sheraton Hotel. It was attended by officials concerned with economy and securities activities, in addition to representatives of listed companies and persons licensed by the CMA.

A number of local, regional and international experts took part in the conference; Mr. Anwar Al-Ghaith - Executive Director for Information Technology & banking operations at Central Bank of Kuwait, Mr. Othman Ibrahim Al-Issa CEO of Kuwait Clearing Company, Mr. Khaled AlKhaled - Vice Chairman and CEO of Boursa Kuwait, and Mr. Mohammad Saud Al-Osaimi - Executive Director/Markets in Boursa Kuwait. Regionally, participants were Mr. Mohamed Alhadari - Deputy CEO of Organizational Services & Support at Securities & Commodities Authority SCA, and Mr. Maged Fanous the Lead Risk and Regulatory Partner for the financial sector with EY MENA region.
The conference consisted of three sessions. The first one was about the Post-Trade Model, the second was entitled “Boursa Kuwait: Challenges and Aspirations, and the last session was about the electronic disclosure language XBRL.
Thus, the CMA announces concluding the events of its annual conference, hoping that it had achieved the required objectives.
It is worth mentioning that the CMA will announce soon the schedule of its specialized workshops to explain the requirements and objectives of the Post-Trade Model and the XBRL that will be executed in the near future.
We would like to draw your attention to the provisions of Article (3-42) of Module Sixteen "Anti-Money Laundering & Combating the Financing of Terrorism" of the Executive Bylaws of Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments, pursuant to Resolution No. (72) of 2015 issued on 9/11/2015 which stipulate that the licensed person must verify and pay attention to all business relationships or transactions with clients or with financial institutions from countries that do not apply or insufficiently apply the FATF's recommendations. If the Authority notifies the licensed person that such countries insufficiently apply the FATF's recommendations, the licensed person shall consider all business relationships and transactions conducted in such countries as high-risk ones, which require implementing the measures set in Article No. (3-21) of the same chapter. Accordingly, the Financial Action Task Force (FATF) has updated the list of countries which do not or insufficiently apply the FATF recommendations in its recent meeting held in June 2017. The CMA is keen to play its role as stipulated in the above mentioned Article.
The Capital Markets Authority (CMA) will hold its fourth annual conference " Capital Market Reforms Through Regional Initiatives" at Badriah ballroom, located at the Jumeirah Beach Hotel and Spa, at 9:00 am on Wednesday January 23, 2019.
The CMA’s approach to holding such annual events started in 2016. An annual conference is held in the first quarter of each year. This presents an opportunity for discussing the most important issues related to the capital markets and securities activities, and the functions of the regulatory bodies along with reviewing the recent updates in the field through the study of leading global cases in the fields mentioned above, which are presented by a selection of international and regional experts and specialists.
The Capital Markets Authority (CMA) started its awareness program for the year 2019 through the opening of its first awareness workshop.
The workshop, presented by Director of Mergers & Acquisitions, at the CMA, and Manager of Acquisition Section, discussed the topic of "Partial Purchase Offer", its definition and nature, in addition to its terms and conditions, and procedures of implementation.
The Capital Markets Authority (CMA) roadshow in UK targeted high-profile UK-based institutional investors, in order to attract more institutional foreign investments, present the latest developments in the Kuwaiti financial markets and to hear their opinions on their investment experience in Kuwait. Many topics were covered, in particular those related to the market upgrade on the MSCI index. All reactions and observations were positive, and all institutions commended the efforts exerted by the parties involved in the market development project and praised the Kuwaiti market high standard of professionalism accomplished in a short time.
Among the highlights were the plans of the parties to implement the Central Counterparty (CCP), which provides better risk management in light of the Market Development Plan that will introduce new, more advanced and sophisticated products such as derivatives. The expected mechanism for joining the index in case of upgrade was also discussed.

As part of its efforts to implement the "Qualifications Examinations Project for Registered Employment Positions”, which was initiated by the CMA on Monday, April 15, 2019, the Capital Markets Authority (CMA) concluded on Thursday, April 25, 2019 The Special Awareness Program for Licensed Persons under the " Qualifications Examinations Project for Registered Employment Positions", which was implemented over the last week (21-25 April) at the CMA’s headquarters, within the framework of the Capital Markets Authority to apply the Qualifications Examinations Project for Registered Employment Positions in cooperation with the Chartered Institute for Securities & Investment (CISI), in order to ensure the successful implementation of this project in the State of Kuwait.
The program included ten awareness workshops, which lasted for one week, with two workshops a day for the target groups represented by licensed persons at the Capital Markets Authority, where 174 people participated from 79 parties. The workshops included the following topics:
• Objectives of the Professional Qualifications Program (PQP)
• The policy of exemption from professional qualifications
• The mechanism of applying the PQP
• Registration procedures for registered employment positions
• Training to pass professional qualifications examinations
• The mechanism for applying for professional qualifications examinations


The Capital Markets Authority has held an awareness event concerning Indices and Passive Investing on April 29, 2019, in Kuwait. In his opening speech, Mr. Muthanna Al-Saleh, Head of Markets Sector, mentioned that the CMA is aware of the importance of this matter especially with the marked growth of the passive investing globally and regionally. Mr. Al-Saleh stated that since Kuwait has been of an importance to the world market indicators, there must be a need to learn how these indicators work and affect the capital markets. In addition, he mentioned that many products will be introduced as a part of the market development project, some of which will be based on the markets’ indices.
During the event, S&P Dow Jones representatives made a presentation about markets indices, their types, and the products that are based on them, as well as the procedures that are used to upgrade the markets and the countries in the international indices.
What makes this event more important is that it coincides with the fact that Kuwait has been upgraded in the international shares indices at S&P Dow Jones and FTSE Russell, and it is included on the watch list for the MSCI emerging index. Thus, Kuwait will officially be included in emerging markets indices at S&P Dow Jones in September 2019, and is expecting its inclusion in the emerging markets by MSCI in June 2019, to be officially included in May 2020.



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