Global Arab Network | Oman: Union of Arab Stock Exchanges reviews annual report

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Oman: Union of Arab Stock Exchanges reviews annual report

Global Arab Network - - Rabih Serrai

Monday, 10 January 2011 20:38

Oman (Muscat) - The 5th meeting of the Union of Arab Stock Exchanges led by the Capital Market Authority was held today at Grand Hayyat Muscat Hotel.

The meeting reviewed the annual report of the Union for 2010 and approved the report of the auditor, the final statements for 2009, the drafty bylaw for the estimated budget of the Union for 2011 and the internal audit system for the Executive Committee.

During the meeting, the participants appointed a full time Secretary General of the Union and approved the work programme for the Union in the current year, as well as, the expenditure on holding the next session of the Union Board in February 2012 in the sisterly State of Qatar.

Yahya bin Saud al Jabri, CMA Executive President delivered a speech at the beginning of the meeting where he hoped that the efforts of all members of the Union would collaborate to promote the profession and enhance the skills and capabilities of those working at the stock market to ensure addressing the difficulties and challenges faced by the stock market sectors in an ideal manner.

He added that the union was established in 2007 in a bid to enhance the economic development and integration in the Arab world through harmonizing the laws and regulations in force in the Arab stock markets.

Dr. Mohammed al Emadi, Chairman of the Union and Chairman of the Syrian Stock and Financial Markets delivered a speech where he called on the members of the Union to prepare a book on how each country addressed the global financial crisis.

Abdullah Salim al Tarifi , Secretary General of the Union and CEO of the Stock Market and Commodity Authority in U.A.E hoped that efforts will continue to achieve the prospective aims and make the Union able develop the financial sector in the Arab world
(ONA)

Global Arab Network

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