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A delegation from the Securities and Commodities Authority (SCA), chaired by its CEO H.E. Dr. Obaid Saif Al Zaabi, takes part in meetings of the Africa/Middle East Regional Committee (AMERC)—a committee established by the International Organization of Securities Commissions (IOSCO)—held in Kuwait. The meetings aimed to continue dialogue between IOSCO members to draw a road map that enables financial market observers to support sustainable development goals through exchanging experiences in promoting sustainable finance.
Dr. Al Zaabi said that the meetings addressed matters relating to sustainable financial markets and placed special emphasis on the challenges and opportunities available to AMERC member states to create sustainable capital markets. During the meetings, representatives of member states were briefed of the latest developments in this regard and of the key findings of an IOSCO working group on capital market sustainability. The meetings also followed up on the steps taken to implement a project to design a technical assistance guide to enforce the laws regulating capital markets.
Present at the meetings were various corporations operating in the capital market, who discussed, along with IOSCO member states, proposals to introduce capital market reforms through regional initiatives. This was done on three consecutive sessions that opened with the exchange of experiences on incentives and initiatives that aim to foster sustainable investing in markets across the MENA region and on ways to facilitate and promote financing of small and medium-sized enterprises, or SMEs.
The meetings concluded by reviewing member state responses to the risks arising from the implementation of financial technology.
It is worth noting that SCA hosted the 38th AMERC meeting in Abu Dhabi on February of last year. The meeting reviewed an initiative that called on all supervisory authorities to forge partnerships and work collectively to achieve sustainable development by promoting green capital markets. The initiative aimed at encouraging a favorable climate for capital markets and driving capital towards green economy.
