Turkish Capital Markets Regulator Welcomes Expanded Cooperation With Iranian Exchanges

TEHRAN (Iran News) The GEM Committee meeting, organized by the International Organization of Securities Commissions (IOSCO), was hosted by the Capital Markets Board of Turkey (CMB) over three days in Ankara. The gathering included panel discussions, specialized workshops, and a review of the latest global developments and experiences in capital markets.

Key speakers at the meeting included İbrahim Ömer Gönül, Chairman of the CMB, the Secretary-General of IOSCO, and the head of Egypt’s securities regulator, who chaired the GEM Committee.

The first panel, moderated by Makbule Asli Kucukgüngor, CMB’s Director of Strategy and Development, explored financial literacy, market resilience, and inclusivity. Panelists included senior representatives from the securities regulators of Morocco, Brazil, and Turkey, as well as the European Bank for Reconstruction and Development (EBRD).

A central topic was the regulation of crypto and digital assets, a complex and pressing issue for global markets. The second panel was chaired by Ali İhsan Gungor, Vice Chair of the CMB, and included experts from IOSCO, the World Bank, and Turkey’s capital markets association.

Advancing Sustainability Reporting Sustainability reporting was the focus of the third panel, moderated by Ali Erdurmuş, Deputy Executive Chair of the CMB. Discussions involved senior officials from Turkey’s Public Oversight Authority, corporate finance leaders, and GEM Committee representatives.

On the second day, IOSCO leaders presented a detailed report on sustainability disclosures, a priority under the International Sustainability Standards Board (ISSB). This initiative, initially proposed in 2017, has now garnered participation from 20 out of 92 GEM Committee members.

The committee also addressed ESG (Environmental, Social, and Governance) integration and combating “greenwashing” through targeted standards and guidelines.

SupTech Innovations: The final day featured three educational workshops. The first focused on Supervisory Technology (SupTech), with Francesca Hopwood Road of the Bank for International Settlements (BIS) presenting virtually on advancements and challenges in regulatory technology for emerging markets.

Capital Market Development: The second workshop, moderated by IOSCO policy advisor Josafat Martinez, discussed strategies to attract global investments, diversify market offerings, and introduce innovative financial instruments, including REITs, pension hedge funds, and new investment funds.

Green Finance: The third workshop emphasized enhancing green finance and diversifying investment tools. Panelists included senior representatives from Thailand, China, India, and Mauritius.

As IOSCO’s largest committee, representing over 75% of its ordinary members, the GEM Committee aims to enhance the efficiency of emerging securities and derivatives markets. Through setting minimum standards, providing technical assistance, and facilitating knowledge transfer, the committee seeks to empower its members to meet global financial challenges.

The meeting underscored the importance of cross-border collaboration, with Turkey and Iran expressing a shared commitment to advancing their capital markets. This marks a significant step towards strengthening financial ties between the two nations and fostering a resilient and inclusive global financial ecosystem.