The AFE General Assembly and Board Meetings

The 39^th Session of the Board of the AFE concluded its meetings in Dubai on the 5^th of June 2014. The meeting was attended by the heads and CEOs of the Arab Stock Exchanges and Clearing companies which are members of the Federation. The Board discussed a number of points listed on its agenda, including the latest developments in the Arab financial markets.

The AFE Board took a number of decisions such as the approval on the recommendations of the Executive Committee concerning the AFE budget for the year 2014 and the appointment of financial auditors. The Board also approved the amendments proposed on the AFE Bylaws, and approved as well the request of the Erbil Stock Exchange to join the AFE.

On another hand, the Board members congratulated the Secretary General for his achievements and outstanding work.The AFE presidency was transmitted to the Saudi Stock Exchange (Tadawul) for the coming mandate. Mr. Fadi Hammad was representing Mr. Adel Al- Ghamdi, CEO of Saudi Stock Exchange (Tadawul) and the Chairman of the AFE for the upcoming mandate

An appreciation presidential memorial was handed to Mr. Mohamed Bichiou, the CEO of Tunis of Stock Exchange and the former Chairman of the AFE for his great contribution and support during his mandate.

During the council meetings, the Council’s Board Members were given a presentation by the Dubai Financial Market on their experience in entering the financial statements of listed companies using the Extensible Business Reporting Language (XBRL).