The Union of Arab Securities Authorities (UASA) Board has approved and published its 19th annual report and 2024 financial statements, setting out member activity across market regulation and oversight, enforcement, awareness, international cooperation, market development, financial technology and financial inclusion, alongside the Union’s work plan for 2025 and priorities for cooperation and coordination among members. On capital market development and risk management, the General Secretariat and a designated working group completed work on guiding principles for the issuance and listing of Islamic sukuk in Arab capital markets, prepared a study on supervision of companies dealing with foreign exchanges in Arab markets, and formulated a general framework for issuing guiding principles on cross-border financial activities and capital flows. The report also covers work on financial inclusion (including a study across members), proposals on regulatory requirements for Know Your Customer (KYC) procedures in Arab capital markets, and a mechanism to enhance cooperation and knowledge-sharing on financial technology and cyber risks, as well as capacity-building programmes and discussion sessions spanning anti-money laundering, financial crimes, governance, sustainability, green bonds, crypto assets and artificial intelligence. Market context in the report includes World Federation of Exchanges data showing global market capitalisation at USD 124.7 trillion in 2024 (up 12.1% year on year), while Arab market capitalisation fell to around USD 4.4 trillion (down 4.3%), with the Saudi Stock Exchange (Tadawul) representing about 61.4% of the Arab total at USD 2.7 trillion. The working group is developing proposals for an investor education and awareness portal on the Union’s website, and the report sets out the Union’s planned 2025 work programme.

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