 The Development of Securities Regulations in the Gulf CountriesSivakumar Velayutham and Thoraya Al-Hajj Chapter 10 in Accounting, Finance, and Taxation in the Gulf Countries, 2008, pp 217-238 from Palgrave Macmillan Abstract: Abstract While capital markets have been established in GCC (Gulf Cooperation Council) countries since 1977 (Kuwait Stock Exchange was established in December 1977) the enactment of codified securities regulation and establishment of independent securities regulators is rather a new phenomenon. In Oman, the Capital Market Law establishing the Capital Market Authority was enacted in 1998. This was followed by the establishment of the Emirates Securities and Commodities Authority in the United Arab Emirates (UAE) in 2000. The Securities and Exchange Commission in Saudi Arabia was inaugurated in 2003 and the Qatar Financial Markets Authority (QFMA) in 2005 through Law No. 33 of year 2005. This is an indication of tremendous interest in securities regulation in the last seven years although stock markets have been in existence in GCC countries for more than 20 years. Recent studies also suggest that the GCC stock markets are strongly co-integrated (Hammoudeh, Al-Eisa, and Al-Nsour 2003). Keywords: Gross Domestic Product; Stock Market; International Monetary Fund; Saudi Arabia; Stock Exchange (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-61454-3_10 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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