The Arab Federation of Exchanges held today its 37th session meeting in Muscat in participation of senior officials representing Arab Stock Exchanges – members of the AFE – and with the attendance of a number of guests who took part in this event.
On this occasion, Deputy CEO of Qatar Exchange, Mr. Rashid bin Ali Al Mansouri, expressed in a keynote speech addressed on behalf of HE Dr. Hussain Ali Al Abdullah, AFE President for the year 2011, his satisfaction for Qatar’s presidency of last year’s session, during which the country has undertaken its role in achievement of the AFE objectives and in consistence with the positive course of action adopted by the State of Qatar in terms of boosting the Arab ties.
Mr. Al Mansouri praised the spirit of coordination and integrity among all members of the Federation, which opened up to the world and made several achievements along the past twelve months. Furthermore, he stated that such achievements included the following: the launch of the S&P AFE 40 Index, the close coordination with the Federation of Euro-Asian Stock Exchanges, the initiative to link between the GCC stock markets, the intensive meetings with the chairmen and members of Union of Arab Securities Authorities and the keeping pace with the activities of the World Federation of Exchanges.
Mr. Al Mansouri concluded his speech by expressing his heartfelt thanks to Muscat Securities Market for hosting the meeting, hoping that its presidency for the 2012 session will be successful.
Today’s activities of the AFE involved the signature of an agreement on mutual cooperation between Muscat Securities Market and Casablanca Stock Exchange. In another context, Mr. Huseyin Erkan, former CEO of Istanbul Stock Exchange, addressed the audience with a lecture entitled: “The role of Istanbul Stock Exchange in achieving Turkey’s economic prosperity and how Arab stock markets can take advantage of this experience”; Another lecture was given by Dr. Hatim Al-Shanfari, from Sultan Qaboos University, on the “Development Challenges in the Arab World.”
During the meeting of the AFE Council and General Assembly, the presidency was bestowed on Muscat Securities Market, represented by its Director General, Mr. Ahmed Al Marhoon. A further presentation was submitted by Al Khartoum Stock Exchange, outlining its establishment and activities in light of its recent membership in the AFE. The participants have also discussed the latest developments in the Arab financial markets and the best methods to react thereto.