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AME Info - Economy and Finance News

Daily, Dubai
Real estate related economic and financial news covering the MENA region.

IMF asks Saudi Arabia's CMA to clarify role, explain overlaps

Apr 29, 2012
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Saudi Arabia’s securities regulator, the Capital Market Authority (CMA) has been urged by the International Monetary Fund (IMF) to clarify its role, especially where there is regulatory overlap with the commerce and industry ministry (MOCI), Saudi Gazette has reported. “The CMA should, without delay, clarify its role with respect to joint stock companies by publishing its MOU with MOCI (in English, not just Arabic) and identify the current boundaries of each regulator’s jurisdiction,” said the IMF. “There also is a potential conflict, since the CMA is responsible both for regulation and development of the capital market.”