Yahya bin Said Abdullah al Jabri, Executive President, Capital Market Authority (CMA) says, “A GCC-wide integration of the financial markets is in the process”. In response to a query about its significance, Al Jabri said, “Once integrated there are ample of benefits in terms of wider scope for investors both domestic and foreign, increased turnover, more liquidity, expansion of markets to the other countries markets, possible to introduce new and sophisticated financial instruments in to the market”.
About the new trends and developments taking place in the market at this moment, Al Jabri said, “It is believed that the market is in its recovery stage. In the next couple of years the markets across the globe are expected to show positive trends. The global crisis and markets sentiments are the possible reasons for the recent down trend in the markets.
“This has been observed across the GCC and the other parts of the world. We are not exception but the impact is negligible. At CMA we are seriously considering this issue and the possible steps like encouraging the merging of the brokerage companies, addressing the issue of reducing the trade commissions and observing and insisting the corporate to follow strict corporate governance code.
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