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”.
- 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
Reforming AFE's Governing Bodies
Financial Institutions Committee
to Affiliate Members
Fintech & Innovation Committee
Business Development Committee
Sustainability & ESGs Committee
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.
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
Dr. Abdul Razak Kassem
Dr. Ali Khaled Fuwail
Haitham Al Salmi
Dr. Mohamad Farid Saleh
Chairman of The Board
Sheikh Khalifa Ebrahim Al-Khalifa
Dr. Ghaleb Mahmassani
Dr. Tarek Abdel Bary
Khalid Al Hussan
Rami El Dokany