24 July 2006, London
The MENA-OECD Investment Programme, in cooperation with the Arab Financial Forum and Barclays Capital, organised an informal roundtable on sustainable capital markets development in the Gulf, Middle East and North Africa on 24 July 2006 in London. The roundtable included several representatives of MENA countries and local financial sector institutions active in the region’s capital markets. The meeting, which was followed by the annual meeting of the Arab Financial Forum on 25 July, discussed issues key to the stability and sustainability of the region’s capital markets, including financial education and collective investment instruments. It received a presentation by Dr. Abdulaziz Sager, Chairman of the Gulf Research Center, on the recent developments in Saudi capital market, and heard from Mr. Ian Walker, Director of the Arab Financial Forum, on the causes and effects of the volatility in regional markets. The roundtable and the meeting of the Arab Financial Forum were both timely, given the recent corrections and instability which the MENA capital markets have been experiencing in the recent months. Several opportunities for further co-operation between the MENA-OECD Investment Programme and the participating MENA countries’ representatives were identified, in particular with reference to the OECD Financial Education Project.