The Sultanate of Oman, through the Financial Services Authority (FSA), recently participated in the 49th Annual Meeting of the International Organization of Securities Commission (IOSCO) in Athens, Greece. Ahmed Ali Al Maamari, the Executive Vice President of FSA, led the official delegation. The aim of the participation was to discuss key global and regional issues in securities markets and the challenges faced by regulators and supervisors in these markets. FSA also took part in meetings of regional committees such as the Africa and Middle East Regional Committee (AMERC) and the Growing and Emerging Markets Committee (GEMC).
The AMERC meeting focused on various topics, including financial sustainability in the region, virtual assets and their regulatory challenges, and the role of regulators in ensuring investor protection and reducing risks to maintain fair and efficient financial markets. Discussions also revolved around the role of Fintech in improving access to financial markets. The GEMC meeting addressed issues related to enhancing regulators’ employees’ capabilities and investor protection. The conference accompanying the annual meeting also highlighted climate change’s impact on national economies and the role of regulators in promoting sustainability practices and financing in response to climate change.
FSA’s active participation in such meetings aims to increase Oman’s presence in international organizations, promote knowledge and information exchange among members, develop markets, protect investors, and elevate regulatory standards for integrity, fairness, and transparency. IOSCO, established in 1983, sets standards for securities commissions and includes subcommittees that collaborate to implement international regulations for market regulation, supervision, and enforcement. The organization’s primary goals are protecting investors, ensuring fair, transparent, and efficient markets, addressing systemic risks, and enhancing confidence in financial markets’ soundness and integrity through information exchange and enforcement cooperation.
By participating in international meetings such as the IOSCO Annual Meeting, FSA underscores its commitment to staying abreast of global securities market trends and regulatory best practices. The organization’s involvement in discussions on sustainability, climate change, Fintech, and investor protection demonstrates its dedication to fostering a robust and secure financial environment in Oman and beyond. Through collaboration with international partners, FSA aims to enhance its regulatory capabilities, protect investors’ interests, and contribute to the development of fair, transparent, and efficient financial markets.
