Emad Al-Thufairi, Chairman of the Board of Commissioners of Kuwait's Capital Markets Authority (CMA) and CEO, emphasized on Monday the critical need to establish electronic linkages between Gulf capital markets to fully capitalize on the ongoing digital revolution. Speaking at the 30th meeting of GCC Capital Markets Authorities' Committee hosted by Kuwait, Al-Thufairi noted that financial market integration represents one of the most vital foundations for achieving the region's desired comprehensive economic integration.

Al-Thufairi highlighted that significant progress has been made in securities and capital markets integration across GCC states, with notable achievements in recent years. He stressed that accelerating this integration requires achieving the highest possible alignment in regulatory and supervisory frameworks, along with adopting flexible yet binding regulations where feasible.

Reflecting on four decades of GCC cooperation since the council's establishment in the early 1980s, the CMA chief noted that joint Gulf initiatives have substantially enhanced member states' economies, both individually and as a cohesive economic bloc capable of achieving sustainable development. These efforts, he added, have contributed to maintaining economic and social stability while addressing cross-border challenges and the rapid global and regional disruptions witnessed today.

Al-Thufairi expressed hope that today's meeting would effectively advance economic integration in line with GCC leaders' directives and their peoples' aspirations, serving as a meaningful contribution to this vital objective.

GCC Official Highlights Integration Agenda

In related remarks, Khalid Al-Sunaidi, Assistant Secretary-General for Economic and Development Affairs at the GCC General Secretariat, stated that the committee's agenda includes numerous key items, most notably discussions on initiatives that would enhance financial market integration across member states.

Al-Sunaidi added that the agenda also includes follow-ups on initiatives referred to the GCC Committee of Capital Markets (Stock Exchanges), underscoring the organization's continued focus on strengthening regional financial cooperation.