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 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”.

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

3-5 non-board members
Downsized to 8 members

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

Sustainabilit & ESGs Committee

Members allowed from full members, affiliate members & Independent members

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 COMMITTIEES
Audit and Governance Committee
The General Assembly forms the Audit and Governance Committee from at least three members and at most five members who are not members of the Board. For necessity, the General Assembly will vote on the membership of the Committee and the members of the Audit and Governance Committee choose among them a Chairman of the Committee at its first meeting after the election of its members. The Secretary General attends the committee’s meetings without a counting vote.
Financial Institutions Committee
The Board of Directors constitutes the Financial Institutions Committee with only affiliate members with a minimum of three members and a maximum of seven members elected by all affiliate members. The committee shall elect a chairman from among its members at its first meeting after the members’ election.
Fintech and Innovation Committee
The Board of Directors constitutes the Fintech and Innovation Committee from a minimum three members and maximum seven members that is elected by the Board. It is required to include at least one full member, at least one affiliate member and an independent member with experience and influence in the above-mentioned field after the Board of Directors approval. The Fintech and Innovation Committee elects its Chairman from among its members at its first meeting after the election of its members.
Business Development Committee
The Board of Directors shall form a committee for developing the rules of work in the financial markets with a minimum of three members and a maximum of seven members who shall be elected by the Board. It is required to include at least one full member, at least one affiliate member and an independent member with experience and influence in the above-mentioned field after the Board of Directors approval. The committee shall elect a chairman from among its members at its first meeting after the members’ election. The Fintech and Innovation Committee elects its Chairman from among its members at its first meeting after the election of its members.
Sustainability & ESG Committee
The Board of Directors constitutes the Sustainability Committee with a minimum of three members and a maximum of seven members who are elected by the Board. It is required to include at least one working member, at least one affiliate member and an independent member with experience and influence in the above-mentioned field after the Board of Directors approval. The committee shall elect a chairman from among its members at its first meeting after the members’ election. The committee shall elect a chairman from among its members at its first meeting after the members’ election. The Fintech and Innovation Committee elects its Chairman from among its members at its first meeting after the election of its members.
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