Representatives from 20 Arab banks in London met with officials from the Prudential Regulatory Authority at the ABA offices on 25 June to discuss a range of regulatory issues and concerns. This was the first such meeting organised by the ABA and financial regulators.
George Kanaan, the ABA's CEO spoke at an international conference on credit ratings, held in Beijing on 29 June. The conference discussed recent developments in rating methodology and the regulation of rating agencies.
The Saudi Capital Market Authority has announced the timeable leading up to 15 June, the date on which qualified foreign investors will be allowed to trade on the Saudi stock exchange.
Three partners from the law firm Lewis Silkin briefed ABA corporate members of current issues relating to employment rights, visas and UK laws on data protection and bribery.
The Saudi Capital Market Authority has issued draft regulations for the registration of foreign financial institutions wishing to invest on the Saudi stock market. Interested parties have until 20 November to submit comments on the draft. The CMA expects that the Tadawul will be open for qualified foreign investors to invest in listed shares during the first half of 2015.