According to Amac News: The officials also approved licensing regulations for member states at the 30th meeting of the GCC’s Committee of Heads of Financial Market Authorities.
The regulations are set to come into effect in early 2025 in Gulf countries that have completed the necessary legal procedures.
The proposed regulations are part of a comprehensive strategy to achieve full integration among the GCC’s financial markets.
The regulations are designed to promote cooperation among member states and facilitate cross-border investments, and are an important step towards regulating the registration and promotion of investment entities.
The regulations will help increase the attractiveness of the GCC countries as a major destination for investors and provide a simple and convenient framework for cross-border investments.
This framework will help streamline processes and expedite procedures, thereby creating unique investment opportunities in the GCC financial markets.
The regulations were developed by a joint team of legal and technical experts from GCC financial market authorities and cover key aspects of registering and promoting investments in the GCC countries. The regulations include procedures for registering funds and the terms and conditions required for them.
Once implemented, these regulations are expected to contribute to advancing economic integration among the GCC countries and promoting the sustainable development of financial markets in the region. This will strengthen the role of the GCC countries as a leading international investment hub.