GCC financial panel meets in Riyadh

The GCC panel on listing, disclosure and governance of companies, an affiliate of the GCC ministerial committee on stock markets, opened its eighth meeting at the GCC Secretariat here on Tuesday. The two-day meeting debated the codification of the rules of the company listing at the stock exchanges of the Gulf Cooperation Council (GCC) member states and the regulations relating to financial disclosure and governance. During its 32nd session, held in December, 2011, the GCC Supreme Council had approved adopting the unified rules on an interim basis for two years pending a further revision and final endorsement. The GCC ministerial committee on stock markets decided, during its second meeting in Dubai in June, 2011, that the member states develop semi-annual reports on the enforcement of these regulations and the related recommendations during the interim period before they become binding. Meanwhile, the GCC Secretariat hosted the 20th session of the GCC team tasked with working out a detailed technical study on the peaceful uses of the nuclear energy. The two-day meeting will discuss the progress made in this regard as well as the joint plan for facing any nuclear emergency and the legal framework enshrined in the international conventions for safe manipulation of the peaceful nuclear energy.