10/25/2010GCC stock markets chiefs see eye to eye on standardizing systems -- Kuwaiti KSE chief
KUWAIT, Director of Kuwait Stock Exchange Saleh Al-Falah said here Monday that "chiefs of the stock markets in the Gulf Cooperation Council (GCC) countries are agreed upon standardizing systems in what further promotes joint GCC action.
Al-Falah added -- in a statement on the sidelines of the second one-day meeting of the GCC stock markets chiefs here -- that "the GCC officials discussed the various developments that were mulled in their first meeting in Riyadh on the preliminary subscriptions as well as the provisions of listing in the GCC stock markets."
He also made clear that the meeting discussed the mechanism for synochronizing and standardizing the provisions of listing the of GCC companies in the GCC stock markets in completion of the findigs made during the Riyadh's meeting, while the participants were also briefed on the results reached by the working teams in this respect.
There are efforts made for providing standardizing systems at the GCC countries and activating the teams of governance, information and joint linkage, he said, making clear the significance of continuing discussions on the latest developments during the upcoming meeting in the United Arab Emirates next year.
Al-Falah also said that, "there are no obstacles hindering the application of systems among GCC stock markets, but there is a disparity in systems and we seek through such kind of meetings to reach a single system." Meanwhile, Chief Executive of the Qatar Financial Markets Authority Nasser Al-Shaibi said that today's meeting is a continuation of the approach adopted during the previous meeting for pushing forward joint cooperation among various bodies on expertise exchange and standardizing measures and laws.
Al-Shaibi also pointed out that "relevant committees work hard in order to bring the views closer among the members on listings, issues, markets' financial tools, linkage and clearances."
He also made clear that the meeting discussed the mechanism for synochronizing and standardizing the provisions of listing the of GCC companies in the GCC stock markets in completion of the findigs made during the Riyadh's meeting, while the participants were also briefed on the results reached by the working teams in this respect.
There are efforts made for providing standardizing systems at the GCC countries and activating the teams of governance, information and joint linkage, he said, making clear the significance of continuing discussions on the latest developments during the upcoming meeting in the United Arab Emirates next year.
Al-Falah also said that, "there are no obstacles hindering the application of systems among GCC stock markets, but there is a disparity in systems and we seek through such kind of meetings to reach a single system." Meanwhile, Chief Executive of the Qatar Financial Markets Authority Nasser Al-Shaibi said that today's meeting is a continuation of the approach adopted during the previous meeting for pushing forward joint cooperation among various bodies on expertise exchange and standardizing measures and laws.
Al-Shaibi also pointed out that "relevant committees work hard in order to bring the views closer among the members on listings, issues, markets' financial tools, linkage and clearances."
