GCC in Oman discusses role of financial regulatory boards

A two-day conference of Gulf Cooperation Council regulatory boards kicked off on Monday and is being organised by the Omani Capital Market Authority's Oman Center for Corporate Governance. The conference sheds light on the role of leading employees in central banks, the banking sector, financial establishments and stock exchanges. It aims to discuss the challenges faced by these regulatory institutions, showcasing Oman's experience on the matter. These means include anti-corruption measures, risk-management, Islamic funding practices and the private and public sector roles in attracting investments to the region. "This meeting seeks to add a new building block to the collaborative efforts of the Gulf Cooperation Council, through discussing the responsibilities of regulatory boards towards sensitive and vital issues like governance, risk-management and tackling corruption," acting Chief Executive of Oman's Capital Market Authority Sheikh Abdullah bin Salem Al-Salmi said in his keynote speech. The conference also offers decision-makers the opportunity to look into the most up-to-date international experiments on these matters, in order to avoid or limit the effects of economic crises on the performance of institutions. An appropriate environment where crises are managed and developments are adapted to in the midst of the current instability in the wider Arab region and economic difficulties internationally is also on the agenda, he said