Doha, Qatar: The importance of capital markets is escalating significantly at the level of the international and national economy, due to their financing role and their effectiveness in attracting, redirecting and investing financial resources, Dr. Tamy bin Ahmad Al Binali, CEO of Qatar Financial Markets Authority (QFMA) has said.

Under the patronage and presence of H E Sheikh Bandar bin Mohammed bin Saoud Al Thani, Governor of Qatar Central Bank (QCB) and Chairman of the Board of Directors of QFMA, the Third Arab Capital Markets Conference was launched yesterday. The conference was organised by QFMA in cooperation with the Union of Arab Securities Authorities (UASA) under the slogan ‘Innovation, Artificial Intelligence & Sustainability: Opportunities & Challenges’.

The conference brought together a number of economic and financial officials and decision-makers, leaders of Arab, regional and international financial institutions, a group of experts and financial analysts and major investors, as well as university professors and experts in the field of artificial intelligence, in addition to representatives of Arab and international regulatory authorities, and financial markets.

Delivering the opening speech during the event, Dr. Tamy bin Ahmad Al Binali noted that the title of the conference was imposed by the rapid technological changes and developments, and clearly reflects the orientation and interest of the current edition of this conference, which mainly revolves around the opportunities and challenges facing Arab capital markets considering technological developments.

It is necessary to ensure the effectiveness of capital markets and work to develop their performance indicators and this applies directly to the Arab capital markets which face great challenges and at the same time enjoy great opportunities for growth and development. The conference is an important opportunity to discuss the reality and future of these markets, and stimulate their ability to benefit from local and international changes and developments, he added.

Dr. Al Binali pointed out that the world is also experiencing other developments and challenges on more than one level, all of which leave a direct impact on the capital markets which makes it imperative for all of us to work to confront these challenges and turn them into opportunities.

He further said “The world is witnessing at this time rapid developments in various fields, especially in the high-tech sector, which is represented in artificial intelligence techniques in particular, and other technologies, which have left their direct and indirect effects on various aspects of economic activity, the financial sector in general and capital markets in particular, which led to the emergence of major opportunities to develop technologies and mechanisms of work in the capital markets, which will reflect positively on their financing role.”

“However, at the same time, technological developments have imposed new challenges, which cannot be dealt with using the same traditional tools, so the Arab capital markets find themselves in a technological reality full of opportunities, challenges and risks, which requires working to invest opportunities and face challenges, which will positively reflect on the stability of capital markets and their ability to carry out their functions and reduce the risks they may face,” Dr. Al Binali added.

The third Arab Capital Markets Conference aims to discuss the outlook of the relationship between artificial intelligence and the management of Arab capital markets and discuss the escalating role of artificial intelligence in the application of governance, financial sustainability and social responsibility in such markets, in addition to the increasing importance of technological techniques in managing the risks facing Arab capital markets.

By bringing together artificial intelligence experts and capital market experts, the conference also seeks to achieve the best possible investment of technology in Arab capital markets.