UNION OF ARAB SECURITIES AUTHORITIES

Report
Invest in Iraq Stock Exchange conference
Session II: The Securities Commission: Regulatory and Supervisory Framework
Mr. Jalil Tarif
Secretary General
Arab Union for Securities Commissions
UNION OF ARAB SECURITIES AUTHORITIES
“Arab Capital Markets Regulatory
Developments and Future Challenges”
Jalil Tarif
Secretary General
Invest in Iraq Stock Exchange Conference
Dubai, UAE - May 2014
UNION OF ARAB SECURITIES AUTHORITIES
UASA Inception & Objectives
 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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UNION OF ARAB SECURITIES AUTHORITIES
UASA MEMBERS
GCC
Levant
North Africa
UAE
Jordan
Libya
KSA
Lebanon
Algeria
Kuwait
Syria
Egypt
Qatar
Iraq
Morocco
Oman
Palestine
Tunisia
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UNION OF ARAB SECURITIES AUTHORITIES
REGIONAL AND INTERNATIONAL
COOPERATION
Associate Member of
IOSCO
OECD
WFE
Observer Member of
AMF
FEASE
ASE
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UNION OF ARAB SECURITIES AUTHORITIES
2013 Performance

Market Regulation

Market Oversight

Enforcement Actions

Investor Education and Awareness

International Cooperation
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UNION OF ARAB SECURITIES AUTHORITIES
2014 Action Plan

Training and Bilateral Exchange Programs

Transparency In Arab Capital Markets

Principles For Financial Market Infrastructure “PFMI”

Islamic Finance
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UNION OF ARAB SECURITIES AUTHORITIES
Arab Market Capitalization for 2013
5%
Tadawul
2% 2%
UAE Financial Markets
(Abu Dhabi & Dubai)
Qatar Exchange
5%
9%
39%
Kuwait Stock Exchange
Others
9%
Egyptian Exchange
Casablanca Stock Exchange
13%
16%
Muscat Securities Market
Amman Stock Exchange
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UNION OF ARAB SECURITIES AUTHORITIES
Arab and World Market Capitalization
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
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UNION OF ARAB SECURITIES AUTHORITIES
ACHIEVEMENTS

Legal infrastructure.

Technology

Best practice, international standards.
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UNION OF ARAB SECURITIES AUTHORITIES
CHALLENGES

Size

Investor Protection

Structure

Governance

Openness

Transparency
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UNION OF ARAB SECURITIES AUTHORITIES
THANK YOU…
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