Heads of the Gulf stock markets in Mascut to tackle improvements

Oman is to host the first meeting for heads of stock markets and financial markets in the Arab Gulf Cooperation Council member states on May 6- 7.

The meeting will discuss working on resuming unifying the legislation and the corporational frameworks of the Gulf stock markets, unifying the settling, deposit, and transfer systems as well as seeking to establish a central regional front for compensation and adjustment.

The meeting also will discuss the oversight institutions' role, the role financial statements of companies and unifying requirements of company data (immediate and periodic financial statements) to help provide the required transparency to instill confidence for investors, encouraging the mediation companies to play an active role in marketing the Gulf bonds and allowing them to open branches or appointing agents in the GCC member states.