2005 News Story

Discussion in Riyadh on proposal for GCC joint stock exchange

A meeting was held in Riyadh yesterday to discuss the setting up of joint stock and bonds markets in the Gulf Cooperation Council (GCC) and the preliminary results of a feasibility study on development of GCC financial markets. The final decision will probably be for complementary markets with standardized regulations.

The meeting was attended, among others, by the CEO of the Gulf Investment Organization, members of the monetary union committee, and presidents of GCC financial markets. The study was commissioned by the GCC’s economic and financial cooperation committee following a recommendation presented by Deputy Prime Minister and Commander of the National Guard Crown Prince Abdullah bin Abdulaziz at the Doha Summit.