AIM Investment Summit explores pathways to financial market integration

Zawya

08-04-2025

The AIM Investment Summit hosted a high-level session featuring CEOs and senior officials from leading stock exchanges and financial market authorities around the world.
The discussion focused on addressing regulatory challenges, enhancing the integrity of financial markets, expanding access to emerging markets, and advancing ESG (Environmental, Social, and Corporate Governance) standards in a rapidly evolving global financial landscape.
The session began by addressing regulatory challenges and opportunities, key reforms, and strategic initiatives. Haitham Al Salmi, CEO of the Muscat Stock Exchange, presented the exchange's evolving strategy and efforts to strengthen visibility and investor trust, despite competitive challenges within GCC financial markets.
Jalil Tarif, Secretary-General of the Union of Arab Securities Authorities, addressed regulatory hurdles in Arab financial markets, highlighting how fragmented frameworks can impede cross-border investment. He called for unified regulatory systems and the development of secondary markets to boost liquidity and investor engagement.
In the segment focused on mitigating market volatility and enhancing ESG commitments, Dorji Phuntsho, CEO of the Royal Securities Exchange of Bhutan, showcased Bhutan's distinct approach of integrating ESG standards with its broader social development vision. He urged mandatory ESG disclosures to promote long-term investment and curb speculative trading.
On the topic of regulatory impact and compliance, Noorbaan Fahmy, Executive Director and Legal Advisor at the Maldives Stock Exchange, stressed the need for alignment with international standards. Hayk Yeganyan, CEO of the Armenia Stock Exchange, noted the challenges that smaller listed companies face in meeting transparency and enhanced corporate governance requirements.
Regarding the effects of regulatory liberalisation, Ivana Gažić, Chairwoman of the Zagreb Stock Exchange, noted that deregulation could improve market flexibility and attract foreign capital, but also warned of increased volatility and weakened investor protections.
Peter Koblic, CEO of the Prague Stock Exchange, echoed these remarks, affirming that deregulation may increase foreign participation and investment flow.
The session then moved on to discuss financial market integrity, with a focus on innovation and cross-border cooperation. Hassan Dudde, CEO of the Somali Stock Exchange, emphasised the importance of strengthening regulatory partnerships and mutual recognition agreements to build investor confidence and facilitate cross-border capital movement.
Bob Karina, Chairman of the Rwanda Stock Exchange, highlighted the transformative potential of financial technology, citing Rwanda's push to integrate mobile trading and digital payments to increase market access for underserved communities.
On encouraging cross-border and domestic listings, Lukas Bonko, CEO of the Bratislava Stock Exchange, pointed to the role of tax incentives and regulatory alignment within the EU in attracting international issuers. Ruslan Khalilov, CEO of the Baku Stock Exchange, stressed the need to reduce listing barriers and simplify procedures for small and medium-sized enterprises (SMEs).
Ivan Shteriev, CEO of the Macedonian Stock Exchange, shared insights on integrating stock exchanges across Southeast Europe. He underlined the importance of unified regulatory frameworks to support cross-border trading and investment diversification, while acknowledging the complexity of regional integration processes.
The final segment focused on sustainable finance and the integration of ESG as a growing priority in global markets. Fadi Kanso, Deputy Secretary-General of the Arab Federation of Capital Markets, provided a comprehensive overview of the challenges hindering ESG adoption in the region. He cited the absence of clear standards, institutional resistance, and weak enforcement mechanisms.
Miguel Monteiro, Chairman and CEO of the Cabo Verde Stock Exchange, emphasised the importance of awareness and education regarding ESG principles, noting that a limited understanding among local companies hampers transparent disclosure and benchmarking.
The AIM Investment Summit also featured a dedicated panel on the future of capital in the UAE, attended by key leaders in the finance and technology sectors. The session explored the transformative impact of open finance, artificial intelligence, and pathways for advancing the financial ecosystem.
Moderated by Fayez Abu Awad, Policy Director for the Middle East and North Africa, the panel included Fouad Mohamed, CEO of the Arab Bank for Investment and Foreign Trade (Al Masraf); Sharath Mendis, Head of Global Banking at Amazon Web Services; and Jamal Saleh, Director-General of the UAE Banks Federation. The discussion centered on driving technological transformation within the financial industry. Fouad Mohamed stressed that shifting to open financial systems requires a fundamental change in mindset from employees, clients, and regulators alike.
Sharath Mendis spoke on financial technology resilience, stating that digital transformation in the financial sector is no longer optional—it is essential for competitiveness and agility.
On building a unified financial future, Jamal Saleh highlighted the importance of predictive analytics and proactive services in the financial sector, emphasising the UAE's remarkable leadership in financial technology governance and its position at the forefront of the regional financial landscape.