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  The GCC Heads of Capital Markets Authorities affirm the Strength of the GCC Capital Markets and the Ability to face Challenges and Crises

GCC- Riyadh
The GCC Heads of Capital Markets Authorities (or their equivalent) held an extraordinary meeting on Sunday, 5 April 2020, via “visual communication” to discuss the efforts made by in the GCC’s Capital markets regulators to support the Capital markets in the GCC states under the current conditions of the emerging Coronavirus (Covid-19). This is in light of the GCC Capital Markets role of regulators to enhance financial stability, diversification and achieve financial inclusion, as well as protect investors and dealers from fraudulent security offerings, based on the tools available to the regulators and the precautionary policy.
The committee reviewed the mechanisms adopted by the regulatory authorities of the GCC capital markets to ensure the continuity of the markets ’work through possible control facilities, digitization transformation and remote work.  As well as  the coordination carried out by each of the regulatory authorities in the GCC states with monetary institutions and central banks in the GCC states to support capital markets. This was through the economic and financial packages launched by the GCC governments. They also reviewed what the GCC states have done to direct government funds to increase their investment in stock exchanges, and other incentive packages adopted to mitigate the economic and financial effects of the pandemic on the companies listed in the GCC capital markets. 
The GCC Heads of Capital Markets Authorities (or their equivalent) affirmed that capital market regulators would continue to monitor and follow developments in the local and global markets and continuously communicate with the markets (stock exchanges) to assess the market’s performance in order to follow the developments of the crisis and take the necessary action in this regard. As well as take all necessary measures to hedge the risk, support the operational infrastructure and the infrastructure of capital markets, and supervise the holding of general assemblies through modern technologies.
The GCC Heads of Capital Markets Authorities (or their equivalent) emphasized the strength of the GCC capital markets and their ability to face all challenges and crises and that they are closely monitoring the effects of potential repercussions with the aim of staving off risks and taking the required measures.