By Mohammad Al-Enezi
MANAMA, April 27 (KUNA) -- Chairman of the commissioners of Kuwait's Capital Markets Authority Dr. Falah Al-Hajraf said on Thursday that the GCC finance supervisory authorities discussed the integration strategy among the GCC capital markets.
The project to attain the GCC markets' merger helps in working out mechanisms for shoring up the GCC states' economies and markets, said Al-Hajraf in a statement to KUNA after the 16th meeting of the GCC capital markets authorities.
The meeting, which grouped representatives of the GCC finance supervisory authorities and bourses, aimed at reaching a joint approach to attain integration among the GCC finance markets.
Al-Hajraf indicated that he listened to the other conferees' views on obstacles facing the GCC markets' merger, noting that one of the key topics examined by the conferees was simultaneous opening of the stock markets in the GCC countries. He indicated that such a step is helpful to allow traders to be active in more than one regional market.
He indicated that further time was needed to tackle snags hampering such a move.
Today's meeting was opened by Governor of the Central Bank of Bahrain and Chairman of the Bahrain stock market, Rashid Al-Mearaj.
The conferees discussed a memo, inked by the GCC markets' authorities in September 2015, for cooperation in training and expertise swap. They also examined the plan, prepared by the Kuwaiti authority, on the joint electronic gateway.
The Kuwaiti delegation included, in addition to Al-Hajraf, the director of strategies bureau Zaid Khaldoun, the director of international relations bureau Abdulrahman Mahmoud Mohammad and director of the executive manager's bureau Mou'yad Al-Shakhs. (end) mge.rk