Media ININ Economy We Trust
September 15 A recent study by the Arab Monetary Fund confirmed that the financial markets in the UAE are the most interconnected in the region. This study issued on Friday, entitled “Financial Interconnectedness in the Gulf Cooperation Council Region,” touched on the development of financial ties within the Council region, as it provided an analytical framework. For policy makers, it contributes to continuing efforts aimed at enhancing financial integration between the economies of the GCC countries. The study showed that the GCC countries share economic interests and priorities, which prompted them to establish the Cooperation Council for the Arab States of the Gulf in 1981, to achieve cooperation and integration in the economic and financial fields, noting that since then, the six member states have signed multiple agreements within the region to enhance economic integration. Among them, in addition to adopting joint regulations and legislation in the economic fields. The study called on the countries of the region to work to harmonize their goals and intensify their cooperative efforts on multiple paths, such as coordinating market practices, developing multilateral arrangements, to encourage stock trading between countries of the region, and developing a regional clearing and settlement framework with regard to stocks and securities in achieving this goal, including It helps stimulate capital flows and promote regional integration of financial markets. (wham)
