GCMA and Middle East Investor Relations Society Sign MoU to Cooperate in Advancing Regions Markets
Dubai, March 4, 2010 – The Gulf Capital Market Association (GCMA) and the Middle East Investor Relations Society (ME IRS) have signed a Memorandum of Understanding to actively promote and improve investor relations practices and fixed income markets in the Middle East.
The agreement was signed in Dubai by Michael Grifferty, President of GCMA and Gretchen Haynes, General Manager of the MEIRS.
The two organizations have pledged to cooperate and collaborate with each other through joint activities, events, studies and publications and will offer reciprocal advantages to members of each organization.
Both organizations strive to promote greater transparency and efficiency in the markets with the goal of wider and deeper markets to serve the regions diversification and development. GCMA cooperates with regulators in furtherance of their missions.
Michael Grifferty said, As the organization devoted to promotion and development of the regions fixed income markets, we are delighted to partner with the ME IRS. Investors relations is a key element in building these markets, both conventional and sharia compliant. Attention to investor relations can help speed the shift to longer dated maturities and reduce recourse to less reliable modes of financing.
Gretchen Haynes said, Investor relations is not only of concern to the equity community. Working with GCMA, we aim to channel the growing attention to debt IR to establish best practice and advance debt IR as its own discipline in the region.
The Gulf Capital Market Association
The Gulf Capital Market Association (GCMA) is the regional trade association representing the Arabian Gulf bond and sukuk market. Andrew Dell, HSBC’s Managing Director and head of CEEMEA Debt Capital Markets, Global Capital Financing, is Chairman of its Steering Committee. GCMA harnesses the commitment of its stakeholders to promote a wide and deep market on the basis of international best practices as adapted to the Arabian Gulf region. GCMA is guided by the highest ethical and professional standards and a shared sense of purpose.
The Middle East Investor Relations Society
The Middle East Investor Relations Society (ME-IR Society) is an independent not-for-profit organization dedicated to promoting excellence for investor relations standards across the region. It is committed to foster increased dialogue among its members, share and to promote best practice and techniques in the field of IR. The ME-IR Society, through its membership program and network of partners, aims to operate as a communications channel and provide support to listed firms, investors, both regional and foreign, participants of the sell-side community, regional governments and exchanges.
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For further information please contact:
Michael P. Grifferty Gretchen Haynes President General Manager The Gulf Capital Market Association Middle East Investor Relations Society info@gulfcapitalmarket.org info@me-irs.com www.gulfbondsukuk.org www.me-irsociety.com