The 19th UASA’s Annual Report
Published on 06-May-2025
The Union of Arab Securities Authorities (UASA) Board approved the 19th annual report and financial statements for the year 2024 during its annual meeting held virtually on 24/04/2025. The report presents the most important activities of the members in market regulation and oversight, enforcement, awareness, international cooperation, market development, financial technology, and financial inclusion. The report also included the most prominent work accomplished by the Union and its work plan for 2025, in addition to a set of issues of interest to Arab securities authorities, especially with regards to strengthening aspects of cooperation and coordination among the Union members.
The annual report indicated that within the framework of enhancing cooperation among the Union’s members in the area of capital market development and risk management, the General Secretariat together with the designated working group, completed the work related the development of guiding principles for the issuance and listing of Islamic sukuk in Arab capital markets. It also prepared a study on the supervision of companies dealing with foreign exchanges in Arab markets and formulated the general framework for issuing guiding principles on cross-border financial activities and capital flows.
As for education, investor awareness and financial inclusion, the working group prepared a study on financial inclusion among the Union’s members. The working group, in cooperation with the General Secretariat of the Union, is currently working on submitting proposals related to the development of an investor education and awareness portal on the Union’s website.
With regards to financial technology and cyber risks, the designated working group in cooperation with the General Secretariat of the Union, submitted proposals related to regulatory requirements for Know Your Customer (KYC) procedures applied in Arab capital markets. The working group have also finalized a study on members’ needs and ways to enhance cooperation and share knowledge on financial technology and cyber risks, they have also included a mechanism to facilitate collaboration among members in this area.
In the area of self-capacity building, the General Secretariat of the Union has given this aspect special attention to meet the various needs of the Union’s members. During the year 2024, the General Secretariat of the Union implemented several specialized training programs for the members of the Union. These programs were developed within the framework of the objectives of the Arab Securities Authorities Union’s Strategic Plan 2021–2025, which, under the capacity building pillar, aimed to conduct a series of training programs and workshops to help enhance supervisory capabilities and improve the efficiency and effectiveness of regulatory authorities across various areas. The Union also organized several discussion sessions focused on topics related to anti-money laundering, financial crimes, governance, sustainability, green bonds, financial technology, innovation, crypto assets, and artificial intelligence. In addition, the General Secretariat of the Union participated in numerous meetings, events, and conferences attended by a large number of Arab regulatory authorities and local, international, regional, and Arab institutions.
With regards to promoting regulatory convergence among the Union’s members, the working groups continued to work on the initiatives of UASA’s strategic plan for the years 2021-2025, which covered various areas including developing capital markets, facing risks, supporting liquidity and sustainability, financial technology, cybersecurity risks, investor education and awareness, and enhancing financial inclusion.
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The Union’s annual report showed that the global markets witnessed significant developments and events that impacted their performance, influenced by geopolitical changes Inflation rates continued to rise to unprecedented levels, prompting countries around the world to adopt contractionary policies to combat inflation and achieve financial stability. Nevertheless, the year 2024 saw a clear increase reflected in global market indicators The data released by the World Federation of Exchanges (WFE) indicates that the market capitalization of global financial markets reached USD 124.7 trillion, compared to USD 111.2 trillion in 2023, an increase of 12.1%. U.S. markets accounted for about 54% of the total global market capitalization, followed by Asia-Pacific markets at 30.3%, and European and Middle Eastern markets at 15.7%.
As for the Arab financial markets, market capitalization declined in 2024 compared to its level in 2023, reaching approximately USD 4.4 trillion, representing a decrease of 4.3%. The Saudi Stock Exchange (Tadawul) accounted for about 61.4% of the total market capitalization of Arab financial markets, with a value of USD 2.7 trillion at the end of 2024.
The nineteen annual report can be viewed in Arabic and English through the following links: