97 percent of dealers personnel and 3 percent funds ... Gulf stock markets facing challenges stand in the way of integration
Dammam life - 11/03/08 / /
Secretary-General of the Federation of Chambers of the Gulf Cooperation Council Abdulraheem marrow, the Gulf stock markets are still experiencing low levels of disclosure and transparency in listed companies, and monopolize information, and lack of commitment to common accounting standards when preparing their financial statements patrol. The «All these challenges stand in the way of integration of the Gulf stock markets, requires study and overcome first, in order to be more in line».
He noted during his participation in the third session of the Forum on the stock market «Smvks», which began yesterday in Abu Dhabi, that the Gulf stock markets are absorbing a large part of the liquidity of individuals and institutions, thus becoming an important channel for investment and funding source of vital economic projects.
The stock markets witnessed leaps quality and large volumes during the past years. At the level of trading volumes, the value of transactions weekly exchanges Gulf six $ 23 billion, the value of shares listed $ 800 billion, «In spite of the evolution of stock markets in the Gulf Cooperation Council states, these markets are still experiencing focus on the stocks of companies trading without other specific , and limited investment tools, which are limited to the shares of listed companies ».
He pointed to the limited institutional investment, specialized studies show that individual investors on the stock market in the Gulf are 97 percent, which means that only three percent of the investments due to investment funds.
With the current year is the actual implementation of the Gulf common market, approved by the Cooperation Council Summit in Doha recently, which means full equality of the citizens of the GCC States in the human owns and share trading, the stock of the Union of Chambers and the Council of State Chambers of Commerce, the Gulf look bright future for the stocks market opens Gulf area the broad movement of capital between the Gulf capital markets in the GCC countries without any restrictions.
He said that the Forum consider the possibility of unification of legislation and regulations in the stock markets and money in the Gulf, and address a number of issues of concern to this sector investors, particularly the role of banks in financing investment in the sector shares, and also reviews the role of brokerage firms to facilitate circulation, and linking stock markets Gulf , the definition of Gulf citizens factors influencing the rise and decline of shares and encouraging them to diversify investment tools.
He called on participants to the marrow out clear recommendations to find appropriate mechanisms for the modernization and development of stock exchanges, both technical and organizational, including help in increasing the size and absorptive capacity, and also to modernize company laws, and incentives for the establishment of companies listed, and to facilitate transfers of the companies listed companies closed, and accelerate Unification of legislation and regulations of ownership and circulation and incorporation and settlement in the Gulf capital markets.
AI
