Gulf Bond and Sukuk Association relaunches as ‘Gulf Capital Market Association’

By Shilpa Annie Joseph, Official Reporter
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The Gulf Bond and Sukuk Association (GBSA) has relaunched as the Gulf Capital Market Association (GCMA) and will extend its coverage to equity capital markets.

The Gulf Capital Market Association (GCMA) is the regional trade association representing the Arabian Gulf capital market.

According to the statement, “GCMA’s initiatives bring together leaders of the regional debt and equity markets to create a collective and effective voice on the key issues affecting the industry.”

Mr. Hitesh Asarpota, GCMA Chairman and Managing Director, Head – Loan Syndications & Global Capital Markets, Emirates NBD Capital said that, “Governments across the region are working to enhance the ecosystems for equity capital markets.  This increased focus underlines the need for an organization that gathers issuers, investors, and regulators to shape the market agenda.”

The member firms of GCMA are leading banks, investment banks, issuers, investors, asset managers, law firms, rating agencies, and market infrastructure providers.

Mr. Fares Hammami, GCMA Vice Chairman and Head of Investment Banking at NBK Capital noted that, “GBSA has been at the forefront of contributing to the tremendous growth of the regional debt capital market over the past decade. It is only sensible that we apply this effective platform to the wider capital market.”

“The debt and equity capital markets together will play a critical role in the diversification of the regional economies and we look forward to enhancing the ecosystem to further support their growth,” commented Mr. Michael Grifferty, President of GCMA.

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