invest in iraq stock exchange conference session ii: the securities commission: regulatory and...
TRANSCRIPT
Invest in Iraq Stock Exchange conference
Session II: The Securities Commission: Regulatory and Supervisory Framework
Mr. Jalil TarifSecretary General
Arab Union for Securities Commissions
Jalil TarifSecretary General
Invest in Iraq Stock Exchange Conference
Dubai, UAE - May 2014
“Arab Capital Markets Regulatory
Developments and Future Challenges”
UNION OF ARAB SECURITIES AUTHORITIES
Established in 2007, based in Dubai, UAE.
Support the development of Arab Capital Markets.
Achieve maximum harmony and consistency among UASA
members.
Unify the efforts towards achieving effective level of oversight.
Promote the implementation of international best practices
standards.
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UASA Inception & Objectives
UNION OF ARAB SECURITIES AUTHORITIES
UASA MEMBERS
GCC
UAE
KSA
Kuwait
Qatar
Oman
Levant
Jordan
Lebanon
Syria
Iraq
Palestine
Libya
Algeria
Egypt
Morocco
Tunisia
2
North Africa
UNION OF ARAB SECURITIES AUTHORITIES
REGIONAL AND INTERNATIONAL COOPERATION
OECD
WFE
FEASE
ASE
Associate Member of IOSCO
Observer Member of AMF
3
UNION OF ARAB SECURITIES AUTHORITIES
Market Regulation
Market Oversight
Enforcement Actions
Investor Education and Awareness
International Cooperation 4
UNION OF ARAB SECURITIES AUTHORITIES
2013 Performance
Training and Bilateral Exchange Programs
Transparency In Arab Capital Markets
Principles For Financial Market Infrastructure “PFMI”
Islamic Finance
5
UNION OF ARAB SECURITIES AUTHORITIES
2014 Action Plan
6
UNION OF ARAB SECURITIES AUTHORITIES
39%
16%
13%
9%
9%
5%
5%2% 2%
Arab Market Capitalization for 2013
Tadawul
UAE Financial Markets (Abu Dhabi & Dubai)
Qatar Exchange
Kuwait Stock Exchange
Others
Egyptian Exchange
Casablanca Stock Exchange
Muscat Securities Market
Amman Stock Exchange
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UNION OF ARAB SECURITIES AUTHORITIES
Exchange 2013 2012
NYSE Euronext (US) 17,950 14,086
NASDAQ OMX (US) 6,085 4,582
Japan Exchange Group 4,543 3,681
London Stock Exchange Group
4,429 3,397
NYSE Euronext (Europe) 3,584 2,832
Hong Kong Exchanges 3,101 2,832
Shanghai SE 2,497 2,547
TMX Group 2,114 2,059
Deutsche Börse 1,936 1,486
SIX Swiss Exchange 1,541 1,233
Arab Stock Exchanges 1,100 941
World Market Capitalization 64,195 54,697
Arab and World Market Capitalization
ACHIEVEMENTS
Legal infrastructure.
Technology
Best practice, international standards.
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UNION OF ARAB SECURITIES AUTHORITIES
CHALLENGES
Size
Structure
Openness
Investor Protection
Governance
Transparency
9
UNION OF ARAB SECURITIES AUTHORITIES
THANK YOU…
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UNION OF ARAB SECURITIES AUTHORITIES