Gulf regulators 'should interact more'

Market regulators in the Persian Gulf could improve transparency through increased cooperation, a corporate governance conference in Oman has heard.

Dr Nasser Saidi, executive director of the Dubai-based Hawkamah Institute for Corporate Governance, said there needs to be "much more sharing of information" between the region's regulatory bodies.

He also told the institute's fifth annual regional conference in Muscat that increased interaction of this nature would boost the Gulf's international profile, Bloomberg reports.

Dr Saidi said this could lead to the region's promotion to emerging market status, which would in turn ensure "better interaction between companies, investors markets and regulators".

The Hawkamah Institute was partnered by the Oman Capital Market Authority and the Organisation for Economic Co-operation and Development (OECD) at the conference.

Before the two-day event in Oman's capital city, Dr Grant Kirkpatrick of the OECD described it as "an important opportunity to gauge the level of regional corporate governance developments".