Riyadh – Arabs today

The Committee of Chairmen held Financial markets – Or their equivalent – in the Gulf Cooperation Council states, an exceptional meeting through the technique of “visual communication”, to discuss the efforts of the regulators of the financial markets in the GCC countries to support the financial markets in the countries of cooperation in light of the current conditions accompanying the emerging Corona virus “Covid 19”.

Participants in the meeting held today in Riyadh stressed the strength of the financial markets in the GCC countries and their ability to face challenges and crises … noting that they closely monitor the effects of potential repercussions with the aim of staving off risks and taking the required measures.

The committee reviewed the mechanisms adopted by the regulatory authorities of the capital markets in the GCC countries to ensure the continuity of the markets ’work through possible control facilities, electronic transformation and remote work, and the coordination that each of these agencies undertakes with the monetary institutions and Central banks In the GCC countries to support the financial markets through the economic and financial packages launched by the governments of the GCC countries, and some of them have directed the government funds to increase their investments in stock exchanges and other incentive packages that they adopt to mitigate the economic and financial implications and the consequences that the virus has left on companies listed in the markets Finance in the GCC countries.

The committee stressed the continued organization of financial markets to monitor and follow developments in the local and global financial markets and to communicate continuously with the “stock exchanges” markets to assess their performance on an ongoing basis to follow the developments of the crisis and take the necessary actions in addition to taking all necessary measures to hedge the risks and support the operational infrastructure and infrastructure of financial markets And supervise the procedures for holding general assemblies through modern technologies.

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