Securities and Commodities Authority (SCA), in collaboration with the Arab Federation of Exchanges (AFE) hosted the first GCC webinar to discuss evolution of supervisory technologies within the Gulf region. The event attracted participants from various regulatory authorities within Gulf Co-operation Council (GCC), exchanges and financial market players.
The positive feedback received for this event led to formulation of a GCC Working Group on Suptech & Regtech which mutually agreed to undertake further study and research in this area with a specific focus on GCC.
The paper below summarizes the discussion points and the key findings of the GCC Working Group on Suptech & Regtech. The paper explains the concept of Suptech and Regtech, gives a brief overview of the best global practices as discussed during the event, adoption in GCC during the pandemic and associated challenges including the road ahead.
Members of GCC Working Group on Suptech & Regtech under the Chairmanship of H.E. Dr. Maryam Buti Al Suwaidi, Acting CEO, SCA include:
- Rami El Dokany, Secretary General of AFE
- Narjes Farookh Jamal, Chief Operating Officer of Bahrain Bourse,
- Yasmeen Al – Sharaf, Director of Fintech & Innovation Unit – Central Bank of Bahrain
- Ms. Shireen AlSayed, Director of Regulatory Policy, Central Bank of Bahrain.
- Pooja Singh, International Relations Expert, SCA
- Mirna Sleiman, Chief Executive Officer at Fintech Galaxy
The report can be accessed via the link: https://www.sca.gov.ae/assets/9e228364/suptech-and-regtech-in-the-gcc-region-joint-study-by-sca-and-afe.aspx