Ammon News - AMMONNEWS - Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, the Union of Arab Securities Authorities (UASA), Securities & Commodities Authority and the Arab Monetary Fund, today announced that the 1st Arab Capital Markets Conference will take place in Dubai under the patronage of the UAE Minister of Economy, H.E Sultan bin Saeed Al Mansouri.

The summit, set to take place on 25 & 26 November 2014, will debate the need for co-operation and integration in MENA, tackle challenges facing the capital markets industry, and highlight innovation opportunities in MENA as well as the positive impact of new technology infrastructure on markets development.

The summit attracts more than 400 senior delegates from the regional trading and investment community including capital markets authorities, government bodies, investment firms, and listed companies.
His Excellency Abdullah Salem Al-Turifi, Chief Executive Officer, Securities & Commodities Authority (SCA), said: “We are delighted to host the 1st Arab Capital Markets Conference in the UAE which confirms the country’s leading position in the capital markets across the Middle East and North Africa. The conclusion will be of great benefit for the members of the as well as the regulatory bodies in the region.”

Nadim Najjar, Managing Director, Middle East and North Africa, Thomson Reuters, said: “We are delighted to be part of this summit which provides a networking and discussion platform for authorities, practitioners, advisors and market participants. It is vital that we collectively debate and tackle the common challenges facing MENA capital markets.”

“The summit presents an opportunity for capital markets officials to coordinate and cooperate with a view to achieve fairness, efficiency, transparency and protect MENA capital markets investors,” he added.
Mr. Hassan Boulaknadel, UASA Chairman and president of the Moroccan Capital Market Authority CDVM, said: “The aim of this conference is to promote cooperation and facilitate the exchange of the financial markets information, in addition to strengthening the Arab Securities Authorities efforts in developing capital markets according to the best practices and standards including international standards and principles issued by the International Organization of Securities Commissions "IOSCO" .

At this occasion, Dr. Abdulrahman A. Al Hamidy, Director General and Chairman of the Board of the Arab Monetary Fund stressed: “the vital importance of developing Capital Markets in the Arab region, specifically since the onset of the recent international financial crises, which were accompanied by a decrease in capital flows and cross-border banking loans, as well as within the context of the latest changes in international standards and more particularly the Basel III framework and its new liquidity management set of rules. The Arab region is facing tremendous increase in financing needs, particularly those countries going through political changes. Developing these markets will benefit the region not only by expanding alternative sources of financing, but also contributing to enhancing financial stability.”
Mr. Jalil Tarif, Secretary General of the UASA, said that: “The importance of holding such conference stand out through the growing attention to the UASA and its member countries shown by local and international institutions, and conviction of its role in cooperation, coordination and exchange of experiences and knowledge among Arab Capital Markets. Organizing the first conference for Arab Capital Markets is the outcome of the efforts exerted by the UASA aimed at setting the broad lines for the trend and course of the UASA as one of the active Arab Institutions with regional and international dimensions.”

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