Abu Dhabi Global hosts a meeting of the Africa and Middle East Committee of…"Iosco"
ABU DHABI, 13th November, 2017 (WAM) – The Financial Services Regulatory Authority of Abu Dhabi Global, “ADGM”, hosted the meeting of the Africa and Middle East Committee, “AMERC”, of the International Organization of Securities Commissions, “IOSCO”, in Abu Dhabi.
This important gathering of the leading securities regulators in the region emphasized Abu Dhabi’s global role as a financial center distinguished by trust and international communication, and contributes to enhancing dialogue and regulatory cooperation across borders.
The closed meeting of the committee brought together 29 regulatory bodies that are members of the organization, from the Middle East and North Africa region, and the participants discussed pivotal issues related to the development of capital markets in the region, including deepening, expanding and integrating these markets, aligning them with global regulatory standards, enhancing cross-border cooperation, and developing supervisory capabilities.
The results of these discussions will be reflected in the future agenda of the International Organization of Securities Commissions (IOSCO), which includes enhancing market flexibility, supporting digital innovation, and maintaining financial integrity.
The last day of the event, yesterday, witnessed a high-level conference that addressed the most important opportunities and challenges that shape the financial markets and regulatory bodies in the region.
The plenary dialogue sessions included a range of pivotal topics such as current shifts in markets, regulatory and policy considerations, and innovation in capital markets, in addition to dedicated sessions that addressed tokenization and distributed ledger technology, sustainability and financial relevance, in addition to “The Rise of Private Credit: Benefits and Concerns.”
His Excellency Waleed Saeed Al-Awadhi, CEO of the Securities and Commodities Authority, currently chairs the Africa and Middle East Committee. The meeting included a welcome speech by Emmanuel Jevanakis, CEO of the Financial Services Regulatory Authority of Abu Dhabi Global.
His Excellency Walid Saeed Al Awadhi said that the meeting of the regulatory bodies affiliated with the Africa and Middle East Committee in Abu Dhabi constitutes a pivotal station in the development of capital markets in the region. By enhancing cross-border cooperation, adopting the latest innovations, and harmonizing with global regulatory standards, we keep pace with the future development of financial markets, and contribute to shaping its features.
He added that our common ambition is to make the Middle East and Africa a leading, flexible, and investor-oriented center that leads sustainable economic growth and ensures the safety and integrity of the financial markets, which enhances investors’ confidence in them.
Speaking about the high-level meeting of the Africa and Middle East Committee, Emmanuel Jevanakis said: “As a regulator based on international regulatory standards, and designed to support the growth of the financial services sector in Abu Dhabi, in a transparent and balanced manner, our hosting of this event reflects the importance of regulatory cooperation in promoting strong, efficient capital markets that are prepared for a sustainable future that supports continuous economic growth, and with the rapid development in the global financial landscape, developing our regulatory methodologies and cooperation has become an urgent necessity, including the ability to adapt. comprehensiveness, while ensuring a reliable and trustworthy regulatory system.”
The International Organization of Securities Commissions is the global body responsible for setting regulatory standards for the securities sector, and works to enhance investor protection, ensure fair and efficient markets, and support the stability of the global financial system.
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