About Us

OUR HISTORY

The Arab Federation of Exchanges was established in June 1978 to be the guiding body for the Arab stock exchanges, under the recommendation of the Arab Central Banks Conference, held under the auspices of the General Secretariat of the League of Arab States in the Hashemite Kingdom of Jordan. The headquarters of the Arab Federation of Exchanges is located in Beirut, Lebanon.

The AFE is the Arab industry group for 17 exchanges and 4 Clearing houses (CSD’s), and multiple of affiliate members (financial institutions, brokerage firms) from all around the Arab regions (GCC, Levant and Arab African countries). The Federation was set up to contribute to the “development of regulations and promoting harmonized and proactive legislations, and exchanging viewpoints and providing opportunities for cooperation among members”.

MISSIOn & VISION
The mission of the Federation is to create a transparent environment for the Arab capital markets, develop market members and reduce the barriers of security trading across the countries through establishing harmony across the laws and regulations of the Arab countries, adopting new technologies and advanced trading and clearing settlements. The Federation’s Vision:
  • Facilitating the exchange of views and providing collaborative opportunities for the members
  • Knowledge transfer through workshops and conferences
  • Developing the legislations in the Arab financial markets
  • Resolving potential disputes
  • Cooperating with regional and international federations
  • Increasing the value of the Arab stock markets
The AFE is the Arab industry group for exchanges and Clearing houses (CSD’s), and financial institutions (brokerage firms) around the Arab regions (GCC, Levant and Arab African countries). The Federation was set up to contribute to the “development of regulations and promoting harmonized and proactive legislations, and exchanging viewpoints and providing opportunities for cooperation among members”.
BOARD AND SECRETARIAT

Reforming AFE's Governing Bodies

Financial Institutions Committee

Exclusive
to Affiliate Members

Fintech & Innovation Committee

Members allowed from full members, affilate members & Independent members

Business Development Committee

Members allowed from full members, affilate members & Independent members

Sustainability & ESGs Committee

Members allowed from full members, affiliate members & Independent members
Board of Directors

Eng. Khalid Al Hussan

Chairman of the Board

Saudi Stock Exchange (Tadawul)

Dr. Mohamad Farid Saleh

Member

The Egyptian Exchange

Mazen Wathaifi

Member

Amman Stock Exchange

Sheikh Khalifa Ebrahim Al-Khalifa

Member

Bahrain Bourse

Dr. Ghaleb Mahmassani

Member

Beirut Stock Exchange

Tarek Senhaji

Member

Casablanca Stock Exchange

Khaldoun Al-Tabtabaie

Member

Kuwait Clearing

Alaa Amer

Member

Misr for Central Clearing, Depository and Registry

Chairman​

The Chairman of the Board of Stock Exchange who hosted the latest annual board meeting and appointed until the next annual board meeting.

The General Assembly

The general assembly consists of all the AFE members full and affiliated, besides all members have the right to vote.
The general assembly holds an ordinary annual meeting according to an agenda prepared by the General Secretariat. However, they might meet in an extraordinary meeting upon the request of the chairman also.
The general assembly meetings are valid in the presence of at least half of the working members.
The Chairmanship of the GA is taken by the member who hosted the last annual ordinary meeting.

The General Assembly undertakes the following tasks:

   1. Approving the work plan submitted by the Board of Directors and its execution mechanism.
   2. Approving the Federation’s annual report, budget, final accounts, and approving the budget.
   3. Election of the members of the Board of Directors and the Audit Committee.
   4. Approving the amendment of the articles of association of the Federation.
   5. Any other topics duly presented to it.

The Board

1. The board of directors is made up of nine members, the membership duration is two years, and the representation of the members shall take into account the following:


  a. Six full members representing the exchanges, distributed on the following basis:         

          •    Two active members representing the Arab Gulf region.
          •    Two active members representing the Levant region.
          •    Two active members representing the Arab African countries.

  b. Two active members representing Arab clearing houses.

  c. Chairman of the federation representing the host country for the annual meeting. In case the                    chairman is a member of the board already, then the number of members in this case is limited to            only eight members instead of nine

AFE COMMITTEES
Audit and Governance Committee

Dr. Abdul Razak Kassem

Damascus Securities Exchange (DSE)

Dr. Ali Khaled Fuwail

Khartoum Stock Exchange (KSE)

Taha Abdel Salam

Iraq Stock Exchange

FINANCIAL INSTITUTIONS COMMITTEE

Mohamed Omran Teima

EFG Hermes Holding

Dima Awad

Sanabel

Ehab Rashad

Mubasher

FINTECH AND INNOVATION COMMITTEE

Azagrouze Ridoune

Maroclear

Raja Al Mazrouei

Fintech Hive – Dubai International Financial Centre

Sherif Samy

Commercial International Bank (CIB)

Walid Hassouna

EFG Hermes

Yasser Alaily

EGID

Zakia Hanani

Palestine Stock Exchange

Mohammed Al Ballaa

Mubasher

BUSINESS DEVELOPMENT COMMITTEE

Bassim Hassan Jasim

Iraq Stock Exchange

Jalil Tarif

Union of Arab Securities Authorities (UASA)

Khaled Kurdieh

Adib Securities

Sayed Bekab

Dubai Gold & Commodittees Exchange

Youssef Sadek

Beirut Stock Exchange

Ahmed Abdelrahman EL-Sheikh

The Egyptian Exchange

SUSTAINABILITY & ESG COMMITTEE

Ayoub Youssefi

Casablanca Stock Exchange

Dima Awad

Sanabel

Ghada Hammouda

Qalaa Holdings

Khalil Al Bawab

Misr Capital

Marwa Al Maskati

Bahrain Bourse

William Tohme

CFA Institute

THE CHAIRMAN
AFE TEAM

Rami El Dokany

Arab Federation of Exchanges

Reem Farhat

Arab Federation of Exchanges

Sally Yassin

Arab Federation of Exchanges

Tony Chahine

Arab Federation of Exchanges

Dr. Fadi Kanso

Arab Federation of Exchanges

Samer Mourani

Arab Federation of Exchanges