QNA
Doha
The State of Qatar participated in the annual meetings of Africa / Middle-East Regional Committee (AMERC) and the Growth and Emerging Markets Committee (GEMC), constituted by the International Organization of Securities Commissions (IOSCO), hosted in Cairo, Egypt, from Nov. 20-23.
The State of Qatar is represented in the meetings by a delegation headed by CEO of Qatar Financial Market Authority (QFMA) Dr. Tamy Bin Ahmad Al Binali.
On the sidelines of the GEMC meeting, several panels will be held, where the first panel, entitled “FinTech and Sustainability: Threats or Opportunities”, will discuss how Non-Bank Financial Institutions (NBFIs) rely on fintech to expand their operations and how we can ensure market stability and investor protection.
It also discusses the linkage between banking and non-banking financial services in a digital era and measures to protect retail investors in a rapidly evolving digitalization of financial activities, the fintech impact on “green financing”, financial inclusion in a digitalized world, and the governance of financial data.
The second panel will be held under the title “Risk Management, Financial Stability and CCPs”, where participants will discuss how to reduce credit risks that financial markets participants face when they enter into transactions, they can contribute to improving efficiency in financial markets, risks & stability in financial markets, risk identification, assessment, mitigation, monitoring and reporting, macroprudential stress test tools for the non-banking sector, and establishing a risk culture that promotes risk awareness, accountability and continuous improvements.
The third panel, titled “Linkages between Responsible Investment and Financial System Stability”, will discuss the global business environment is witnessing a paradigm shift towards integrating sustainability into financial practices, where participants will discuss topics related to mapping cost-benefit of IFRS S1 and S2, how to enhance transparency in sustainability reporting for sustainable investors who value ethical practices and forward-thinking strategies, the role of technology as an enabler to optimize reporting processes and trim costs, investor demand, how to enhance the company’s market competitiveness by aligning with global reporting trends, how the new standards foster long-term value creation by integrating sustainability into decision-making processes, as well as operational efficiency and resource management, where the implementation new standards can drive better resource management, trim costs and enhance operational efficiency.
The fourth panel, titled “Scaling Up Voluntary Carbon Markets: Challenges and Opportunities”, discusses the projections of future growth of the voluntary carbon market, with estimates that the global market will expand to around USD 40 billion by 2030.
This panel will discuss the tangible benefits that the market brings to sustainable development.
In 2020, QFMA hosted the 44th Annual Meeting of AMERC, which was organized by QFMA in coordination with IOSCO.
In June, 2023, QFMA participated in the 48th IOSCO Annual Meeting held for three days in Thailand.
QFMA has been an involved member of IOSCO since 2013. It also joined several key committees of the organization, namely Presidents Committee, Growth and Emerging Markets Committee (GEMC), Africa / Middle East Regional Committee (AMERC), and MMoU Monitoring Group.
IOSCO is a global standards setter for the securities regulation recognized by the international financial community, which all member states must comply with and fulfill their requirements.
It also seeks to enhance the regulatory and supervisory powers of capital market authorities through internationally cooperation, and enhance the effectiveness of capital market authorities to detect and combat financial crimes across borders, in addition to ensuring the enforcement of laws of capital market authorities against violators across borders.
IOSCO is the reference institution for capital markets regulators worldwide. IOSCO works intensively with the G20, the FSB, as well as the World Bank and the International Monetary Fund, which have adopted IOSCO standards as an industry reference.
IOSCO develops, implements and promotes adherence to internationally recognized standards for securities regulation, as well the IOSCO Objectives and Principles of Securities Regulation have been endorsed by both the G20 and the Financial Stability Board (FSB) as the relevant standards in this area.
