QNA
Doha
Chief Executive Officer of Qatar Financial Markets Authority (QFMA) Tamy Ahmed Ali Al Boutamy Al Binali stressed the importance of boosting cooperation and coordination between QFMA and International Organization of Securities Commissions (IOSCO) in all fields, in addition to developing them for the promotion of financial markets in IOSCO’s members states, advancing their attraction of local and foreign capitals, facilitating their transaction procedures and enhancing protection of rights of investors and dealers in those markets.
This came during his meeting with IOSCO Secretary General Martin Moloney at the margins of 48th annual meeting of IOSCO that was concluded in Bangkok, Thailand Friday.
The meeting discussed all issues pertinent to financial markets and sharing opinions, expertise, and experiences to reach securities’ best practices and enhancing commitment to transparency, stability, and financial sustainability.
The two sides accentuated the importance of constant work through developing financial markets, consolidating a secure and stable environment for investment that stimulates investors and protects their transactions, in addition to providing best financial services. They also stressed the importance of overcoming all challenges and impediments that could potentially face financial sector, bolstering international cooperation in securities, promoting transparency, accountability and governance that would have a profound impact on consolidating confidence in capital markets and building on what was achieved in IOSCOs member states during the past years.
At the conclusion of the meeting, Martin Moloney commended QFMA’s efforts in developing local financial market and bolstering international cooperation in this regard. Adding to this, IOSCO undertakes the task of drawing up essential criteria for surveillance and oversight recognized by international financial community which all member states should abide by and fulfil their requirements.
It also seeks to promote oversight powers for financial markets authorities through cooperation at international level, enhance their efficiency to detect and combat financial cross-border crimes, in addition to ensuring enforcement of their laws against violators.
