H.E. Dr. Maryam Al Suwaidi, Acting Chief Executive Officer of the Securities and Commodities Authority, (SCA) opened the 15th meeting of the Union of Arab Securities Authorities (UASA) held via video conference in the presence of H.E. Jalil Tarif, Secretary General of the UASA, and representatives from the UASA member states. Participants at the meeting discussed the agenda, the developments that took place in Arab capital markets back in 2020, and the consequences of the COVID-19 pandemic on these markets. The UASA Strategic Plan 2021-2015 was also approved at the meeting.
In her opening speech, Dr. Al Suwaidi said that “this meeting carries special significance due to the vital role supervisory authorities play in the economy, particularly in the wake of the crisis spurred by the spread of the COVID-19 virus. This represents a major milestone on the path to a more developed financial services industry,” adding that “in 2020, financial market authorities in the Arab world continued to make remarkable achievements in the fields of supervision, legislation, regulation, and enforcement and to establish proper frameworks and mechanisms to enhance their supervisory capabilities; improve the transparency, disclosure, and governance rules; and promote education and awareness to ensure financial market stability and balance.”
Participants at the meeting reviewed memoranda issued by the Secretariat General of the UASA concerning several matters, including the completion of the new UASA Strategic Plan 2021-2025, the development and publication of a set of guidelines on the general rules adopted by the UASA for the Arab capital markets, development of a handbook highlighting key UASA activities for the first period of the Strategic Plan 2021-2025, amendment of the UASA regulations, in addition to other matters concerning the launch of a portal for e-learning and training programs for the period covering 2021 to 2025, the UASA annual report, and the membership of the Dubai Financial Services Authority (DFSA) in the UASA. The UASA board decided to approve the new strategic plan and to accept the membership of the DFSA (as an active member).
The UASA members expressed their gratitude and appreciation to SCA in the UAE (where the headquarters of the UASA is based) for its continued support to the UASA and for hosting the latter’s annual meeting. The UASA board decided to hold its coming meeting in Sultanate of Oman and expressed its thanks to the Iraqi Securities Commission, which expressed its desire to hold the 17th meeting of the UASA.
