Jordanian, Kuwaiti and Omani securities regulation: Can they be the subject matter of a viable comparative study with EU securities regulation? (Part Two)

Abstract

This is the second of two papers which examine the question of whether Arab securities regulations can be the subject matter of a methodological study in comparative securities regulation, especially with reference to EU regulations. Part One was published in Journal of Financial Regulation and Compliance Volume Eight, Number Four. This paper addresses the specific juridical impact of Shari'a on capital markets, before looking at its impact on capital market laws of Jordan, Kuwait and Oman. In order to provide an empirical insight into existing Arab securities regulations, the paper also surveys the securities and company laws in the aforementioned countries. Such a discussion also includes a brief examination of market conditions, especially the early factors that accompanied the genesis of such Arab securities markets, notably in Kuwait. The paper concludes by addressing the question of the suitability of the Arab markets selected for this study to comparative studies in EU securities regulation, especially in the context of contemporary internationalisation of securities regulation. It explains in the process why the European experience is relevant (particularly in light of the many EU—Arab association agreements to take effect from 2010, together with EU ‘harmonisation’, ‘minimum standards’, and ‘single passport’ regulatory concepts).

Citation

Minwer Al‐Rimawi, L. (2001), "Jordanian, Kuwaiti and Omani securities regulation: Can they be the subject matter of a viable comparative study with EU securities regulation? (Part Two)", Journal of Financial Regulation and Compliance, Vol. 9 No. 3, pp. 253-273. https://doi.org/10.1108/eb025080