UASA’s 20th Annual Meeting

The 20th annual meeting of the Union of Arab Securities Authorities (UASA) Board was hosted remotely on April 22, 2026, by the Financial Market Council of Tunisia. The Board discussed the annual report for 2025 and the suggested work plan for 2026, 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 2025, budget forecast, and training plan for 2026 were presented and approved.

The opening session began with a speech by the host authority delivered by Mr. Hatem Samiri, CEO of the Financial Market Council of Tunisia, followed by a speech from UASA’s Chairman Mr. Youcef Bouzenada, president of the Algerian Commission for the Organisation and Supervision of Stock Market Operations (COSOB), and a speech from UASA’s Secretary-General, Mr. Jalil Tarif. Mr. Hatem Samiri then received the presidency of the Union for its twentieth 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 covered 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 on cross-border financial activities and capital flows, as well as the guideline on best practices for addressing market risks. The Board decided to have the General Secretariat publish the guidelines on the Union’s website after taking into consideration members’ comments.

The Board also reviewed the memorandum of the General Secretariat regarding cooperation in the field of cybersecurity and the presentation delivered by the FinTech and Cybersecurity Working Group. The Board approved the annex as a guiding framework for cooperation in cybersecurity and decided to publish it on the Union’s website after incorporating members’ comments. In addition, the Board reviewed the memorandum of the General Secretariat regarding the Smart Investor Guide and took note of the efforts exerted by the working groups and the General Secretariat in this regard.

The Board further reviewed the memorandum of the General Secretariat regarding the Union Activities Booklet during the period of the Second Strategic Plan for the years 2021–2025 and mandated the General Secretariat to publish it on the Union’s website after taking members’ comments into consideration. The Board also discussed the memorandum of the General Secretariat concerning the Union’s legal status and reviewed the UAE Cabinet Resolution granting the Union independent legal personality. It was decided to postpone any amendments to the Union’s Basic or Internal Regulations until a comprehensive package of amendments is prepared in line with the Union’s new legal status.
The Board also discussed the memorandum of the General Secretariat concerning outstanding financial contributions of certain members. The General Secretariat was tasked with communicating with the relevant entities to address the matter, in addition to incorporating the necessary amendments into the Union’s regulations in this regard. Furthermore, the Board reviewed the memorandum concerning the signing of a Memorandum of Understanding with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). The Board mandated the Secretary General to sign the MoU after completing the necessary procedures and ensuring that no financial or legal obligations would arise for the Union.
The Board reviewed the memorandum of the General Secretariat regarding the Self-Learning Initiative, which aims to strengthen training and capacity-building programs, and decided to mandate the General Secretariat to take the necessary steps for its implementation. The Board also discussed the draft Third Strategic Plan of the Union for the years 2026–2030, as well as the Union’s Work Plan and Program for 2026. The General Secretariat was tasked with circulating the draft strategic plan to members to provide their comments and suggestions in preparation for its adoption at a later stage.
The Board also reviewed the memorandum of the General Secretariat regarding the training programs for 2026 and emphasized the importance of benefiting from these programs by member authorities and other supervised entities. In addition, the Board discussed the draft estimated budget of the Union for 2026 and the financial study for the upcoming three years. The Board also discussed the date and venue of the next Board meeting and tasked the General Secretariat with coordinating with members on this matter and presenting it to the Board for the appropriate decision.

At the conclusion of the meeting, the Union members expressed their appreciation to the Financial Market Council of Tunisia for hosting the meeting. They also extended their thanks to the Algerian Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) for its efforts during its presidency of the nineteenth term, to the General Secretariat of the Union, and to the Capital Market Authority of the United Arab Emirates (host country) for its continuous support to the Union.