Yemen seeks to set up securities exchange authority

SANA'A, Sep. 13 (Saba)- Yemen is
seeking to create a securities exchange authority in the country. The parliament has
thrown
its weight behind a draft bill which aims to set up the authority.
The bill, which also includes measures to ensure transparency, will protect
investors' money.
The move comes as the government tries to speed up the launch of a bourse which it
hopes will encourage investment.
In October 2009, the Dubai Financial Market (DFM) was creating a stock exchange,
but the launch has been repeatedly delayed.
According to the government, nine companies have already been selected to implement
governance standards for listing purposes.
The Yemenis insisted that creation of a securities exchange authority has always
been considered as an important step towards establishing a bourse, and this latest
approval
reflects the continued to determination to push ahead with the launch although it
remains unclear exactly when that will be.
YA