Dr Bassam Saket Receives General Secretariat of the Union of Arab Securities Authorities
11-Sep-2011
Chairman of the Jordan Securities Commission (JSC) Dr Bassam Saket received at (JSC) headquarter, the General Secretariat of the Union of Arab Securities Authorities (UASA) Mr. Salah Al-Hlyan.
The visit of the General Secretariat comes within the realm of enhancing continuous communication & cooperation between the (UASA) & the (JSC), viewing (JSC) work mechanisms & market developments & finally effects taking place at various fields; legislative & supervisory at Jordan capital market.
The Union is professionally represented by Arab countries having supervisory Commissions on stock exchanges as follows: Arab countries in North Africa (Egypt, Tunisia, Morocco & Algeria) & Gulf Cooperation Council countries (Saudi Arabia, Bahrain, Qatar, United Arab Emirates, Oman & Kuwait), as well as, Jordan, Iraq, Palestine, Syria & Lebanon.
In 2007 an official consensus took place. It was attended by 11 Arab countries & chaired by the Emirati Minister of Economics & Chairwoman of the Board of Directors of the Securities & Commodities Authorities Sheikha Lubna Al-Kasemi during which, Chairman of the (JSC) Dr Saket was nominated as the First Chairman of the (UASA). The Union is an Arab entity situated in Abu Dhabi.
The visit of the General Secretariat of the (UASA) Mr. Al-Hlyan is quite essential, particularly in the prevailing economic & capital markets circumstances in the Arab region. The (JSC) holds great aspirations on the new experienced administration to elevate the Union program for the benefit of Arab supervisory commissions & to enhance independence & regulatory & investment cooperation with Arab financial markets. Jordan capital market encompasses investments of over JD 20 billion, the majority of which are from the Arabian Gulf having developmental projects in Jordan.