Title: Press Release: The Capital Markets Authority Participates in the 19th Annual Meeting of the Union of Arab Securities Authorities

Kuwait, April 26, 2025 - The Capital Markets Authority (CMA) participated on Thursday, April 24, 2025, in the19th annual meeting of the Union of Arab Securities Authorities, held remotely and hosted by Algeria.  The CMA was represented by Mr. Thamer N A. Al Nesef - Member of the Board of Commissioners, alongside representatives from member states and the Union’s General Secretariat.

The meeting was inaugurated with a welcoming address by His Excellency Mr. Youssef Bouz Nada,  Chairman of the Commission for the Organization and Supervision of Stock Market Operations in Algeria. He welcomed the member  representatives  and His Excellency Mr. Jalil Tarif,  Secretary General of the Union, emphasizing the importance of this annual gathering as a platform for exchanging expertise and views  to maintain stability and development of financial markets amid ongoing changes.

The agenda included the approval of the Union’s 2024 annual report, and the review of several  memorandums from the Secretariat General. These covered: the guidelines for the issuance of Islamic sukuk in Arab capital markets, a study on financial services companies in Arab capital markets their interactions  with foreign Exchanges, proposals to streamline know-your-client (KYC) and due diligence requirements across financial and banking institutions, and enhancing cooperation among member authorities in the fields of financial technology and cyber risks management.

Further, the meeting discussed the adoption of the auditors' report and final accounts for the financial year 2024, the establishment of a working group to prepare the Union's strategic plan for the years 2026-2030, a review of the study on enhancing financial inclusion in Arab capital markets, the Union's training plan for the current year, and the implementation of the Union's work program for 2025.

The meeting concluded with the announcement that the next annual meeting will be hosted by the State of Kuwait. It is noteworthy  that the Union currently comprises  16 member states.