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Facilitating Opening Investment Accounts Initiative
The Committee of GCC Heads of Capital Markets Authorities in the Gulf Cooperation Council (GCC) region adopted the initiative of facilitating opening investment accounts through relying on third parties in fulfilling the due diligence requirements and customer acceptance.  An integrated and consolidated version of Know Your Customer (KYC) "Guiding" has been approved to streamline processes for nationals and residents of the GCC region, while also promoting capital institutions to establish bilateral agreements with counterpart institutions in other nations.

  Objectives of the Initiative:
  • Achieving harmony and integration in the work mechanisms and procedures in the system of capital market authorities and Gulf stock Markets in order to achieve its main goal, which is to facilitate dealing in the capital markets (stock exchanges) for nationals and residents of GCC countries.
  • Facilitating  for opening investment accounts in the GCC countries.
  • Coordinating to adopt the principle of capital institutions relying on peer third parties in other countries to fulfill due diligence requirements to facilitate procedures for opening investment accounts in Gulf markets for GCC nationals and residents.

Implementation Mechanism:
The contact information of capital market institutions shall be made available on the websites of the relevant authorities. This will enable these institutions to identify their counterparts in other companies , facilitating the establishment of bilateral agreements. Consequently, they can rely on these agreements to meet the due diligence requirements and customer acceptance criteria for prospective clients who are nationals and residents of the GCC.

 Participating Capital Market Institutions (Avaliable in Arabic Only)


For more information about the Initiative Click Here (Avaliable in Arabic Only)

 For Initiative pages on the websites of Capital Markets Authorities in the Gulf Cooperation Council (GCC):

Central bank of Bahrain
Capital Markets Authority State Of Kuwait
Securities & Commodities Authority of the United Arab Emirates
Mechanism for Adding the Capital Institutions on the CMA’s Website:
Kindly contact the Anti-Money Laundering and Terrorist Financing Department via E-mail:
CMA-AML@cma.org.sa​

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