Ways to develop capital markets and mechanisms to boost capacity building discussed

Muscat: Represented by the Financial Services Authority (FSA), the Sultanate of Oman on Wednesday took part in the 51st annual conference of the International Organisation of Securities Commissions (IOSCO), held via video-conferencing.

The conference included a meeting of the Growth and Emerging Markets Committee (GEMC) and a meeting of the Africa and Middle East Committee (AMERC).

The FSA was represented at the IOSCO meetings by Ahmed bin Ali Al Ma’amari, Deputy CEO of the Financial Services Authority.

The meeting of the GEMC discussed ways to develop capital markets and mechanisms on enhancing capacity building. It also elaborated on policies and experiences that support the efficiency of markets and their global ranking.

The meeting also discussed developments in global debt and the risks posed to emerging markets, in addition to member countries’ experiences in implementing initiatives to develop markets and raise their rankings in global indices.

The GEMC comprises 94 members, including the world’s fastest-growing economies and 10 countries from the Group of Twenty (G20).

The meeting of Africa and Middle East Committee dealt with the resilience of financial markets amid geopolitical challenges. It also reviewed the role of regulatory technology in developing audit methods.

The meeting reviewed the latest trends related to the use of modern technologies and artificial intelligence (AI) in oversight action, as well as challenges related to boosting data quality, cybersecurity and technical integration.

AMERC is one of the IOSCO’s four regional panels. It focuses on regional issues related to securities regulation in the Africa and Middle East region.