(MENAFN - Kuwait News Agency (KUNA)) Syrian Commission on Financial Market and Securities will be appointed head of the Union of Arab Stock Exchanges during the union's fourth meeting scheduled to take place in Damascus, a Syrian newspaper said Monday.
According to the union's regulations, Syria will take the union's chair for one year after Saudi Capital Market Authority, Al-Thawra newspaper said. The union's meeting grouping Syria, Kuwait, UAE, Saudi Arabia, Jordan, Qatar, Oman, Iraq, Lebanon, Egypt, Algeria and Palestine will be headed by Syrian Minster of Finance Mohammad Al-Hussein, it said.
The Union of Arab Stock Exchanges was established in Abu Dhabi in 2007 through a UAE initiative which called for founding a body to help boost development and Arab economic unity.
The body was to come up with joint policies and monetary regulations directed towards achieving stock markets competence, equity, and transparency, along with developing monitoring systems and exchanging expertise among Arab countries in the domain