The Qatar Financial Markets Authority (QFMA) has attended the annual meetings of the Africa/Middle East Regional Committee (AMERC) and the Growth and Emerging Markets Committee (GEMC), constituted by the International Organisation of Securities Commissions (IOSCO).
The meetings, which are being held in Egypt, were attended by a delegation, headed by Dr Tamy bin Ahmad al-Binali, QFMA chief executive officer.
The QFMA has been an involved member of IOSCO since 2013. It joined several key committees of the organisation, as Presidents Committee, GEMC, AMERC and MMoU Monitoring Group.
IOSCO is a global standards setter for the securities regulation recognised by the international financial community, which all member states must comply with and fulfil their requirements.
It seeks to enhance the regulatory and supervisory powers of capital market authorities through global co-operation, and enhance the effectiveness of capital market authorities to detect and combat financial crimes across borders, in addition to ensuring the enforcement of laws of capital market authorities against violators across borders.
IOSCO is the reference institution for capital markets regulators worldwide. IOSCO works intensively with the G20, the Financial Stability Board (FSB), as well as the World Bank and the International Monetary Fund, which have adopted IOSCO standards as an industry reference.
IOSCO develops, implements and promotes adherence to internationally recognised standards for securities regulation. IOSCO Objectives and Principles of Securities Regulation have been endorsed by both the G20 and the FSB as the relevant standards.
On the sidelines, al-Binali met with Dr Mohamed Farid, the executive chairman of Financial Regulatory Authority (FRA) Egypt, as they discussed ways to enhance joint cooperation between QFMA and FRA Egypt.
Both discussed ways to develop joint efforts to improve the performance of capital markets and achieve financial sustainability, as well as reviewing the key developments and updates in the national and international capital markets.
Dr Tamy bin Ahmad al-Binali, QFMA chief executive officer and Dr Mohamed Farid, executive chairman of the Financial Regulatory Authority (FRA) Egypt on the sidelines of IOSCO annual meetings in Cairo.
Dr Tamy bin Ahmad al-Binali, QFMA chief executive officer, at the IOSCO annual meetings in Cairo.