UASA’s 19th Annual Meeting
Published on 06-May-2025
The 19th annual meeting of the Union of Arab Securities Authorities (UASA) Board was hosted remotely on April 24, 2025, by the Algerian Securities Commission (COSOB). The Board discussed the annual report for 2024 and the suggested work plan for 2025, in addition to several key issues related to Arab Capital Markets, particularly in terms of enhancing cooperation and coordination among UASA’s members in facing common challenges, such as cybersecurity risks and advancements in financial technology, in addition to sharing best practices in the area of legislation and regulatory procedures. During the meeting, the work and achievements of UASA’s working groups were showcased, and the Union's financial statements for 2024, budget forecast, and training plan for 2025 were presented and approved.
The opening session began with a speech by the host authority delivered by Mr. Youcef Bouzenada, president of the Algerian Securities Commission (COSOB), followed by a speech from UASA’s Chairman Dr. Tami Al-Binali, CEO of Qatar Financial Markets Authority and a speech from UASA’s Secretary-General, Mr. Jalil Tarif. Mr. Youcef Bouzenada then received the presidency of the Union for its eighteenth session.
The Board reviewed memorandums from the General Secretariat regarding the work of the working groups in charge of implementing the initiatives of the UASA’s strategic plan for the years 2021-2025, which included various areas such as developing capital markets, mitigating risks, supporting liquidity and sustainability, financial technology, cyber risks, investor education and awareness and enhancing financial inclusion. The Board also reviewed the General Secretariat's memorandum regarding the guideline for the Issuance of Islamic Sukuk in Arab Capital Markets. The board decided to have the General Secretariat publish the guideline on the UASA’s website after considering the members' feedback.
The Secretary-General of the Union presented the work of the working groups tasked with implementing the initiatives of the Union’s strategic plan, focusing on key areas such as capital market development, risk management, liquidity support, sustainability, investor education and awareness, financial inclusion, and financial technology and cybersecurity. The Board reviewed the study on the dealing of Financial Services Companies in Arab Capital Markets with Foreign Stock Exchanges. and instructed the General Secretariat to publish this study on the Union’s website after taking UASA’s members suggestions and comments. The board also reviewed the study on facilitating due diligence/Know Your Customer (KYC) requirements in financial and banking institutions and the presentation from the working group assigned to this field, and directed the General Secretariat to publish the study on the website after considering the members' feedback.
The Board then reviewed the study on enhancing cooperation in the fields of financial technology and cybersecurity risks for the Union’s members, and instructed the General Secretariat to publish this study on the Union’s website after taking UASA’s members suggestions and comments. The board also reviewed the study on Enhancing Financial Inclusion in Arab Capital Markets and the presentation from the working group assigned to this field. The Board directed the General Secretariat to publish this study on the website after considering the members' feedback.
The Board reviewed the General Secretariat's memorandum on forming a working group to prepare the Union’s strategic plan for 2026–2030. The Board decided to mandate the existing working groups, in cooperation with the General Secretariat, to draft the Union’s 2026–2030 strategic plan and present it to the Board at its next meeting. The Board also examined the General Secretariat’s memorandum on the Union’s 2025 work plan and program. The Secretary-General of the Union presented a summary of the key projects and initiatives to be carried out in 2025, in alignment with the objectives of the new strategic plan.
The Board also reviewed the General Secretariat's memorandum on forming a working group for implementing the strategic plan initiatives. The board assigned the General Secretariat to contact UASA’s members to appoint representatives to these working groups after providing them with the tasks to complete the fifth year's work of the strategic plan considering additional tasks proposed by the board members. The Board reviewed the General Secretariat's memorandum on the 2025 training programs, acknowledging their importance and the need for UASA’s members and other regulated entities to benefit from them.