The Gulf Capital Market Association (GCMA)

The Gulf Capital Market Association (GCMA) is the industry association that speaks with a single voice for the Arabian Gulf region’s capital market. GCMA harnesses the expertise and energy of its members to strengthen the markets needed to support economic growth and transformation of the region.

Member firms are industry-leading asset managers, banks, investors, ratings agencies, legal advisors and market infrastructure providers. GCMA members are from six countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. In addition, members include firms serving the Gulf market from other global financial centers.

The Association is guided by a Regional Board of Directors that provides strategic direction and oversight. The 15 member Board is elected annually by voting members and is presided over by a Chair. GCMA is licensed by the Dubai International Financial Center as a Non Profit Incorporated Organization (NPIO).

Founded in 2010, initially to promote development of the fixed income market, GCMA has extended its involvement to the broad capital market. In 2023 GCMA launched its Asset Mangement Chapter (AMC). The AMC is composed of global and regional firms engaged in the investment management industry, collectively responsible for over $30 trillion of assets under management. Its principal activities are to gather and represent the views of industry participants, encourage adoption of best practices, raise the awareness of the role of asset management and to advocate with regulatory bodies on issues of common interest. The Chapter meets regularly to discuss regulatory and market topics of interest to the buyside. Members of the Chapter also participate in other initiatives of the GCMA aimed at further developing the region’s capital market

GCMA works with governments, central banks and regulators to strengthen markets. GCMA’s committees, national chapters and working groups gather market leaders around key issues in Islamic Finance, Debt and Equity Markets, Financial Technology, Infrastructure Finance, Investor Relations, Structured Finance, Regulation and Environmental, Social and Governance (ESG) investing.

GCMA sets market practices, facilitates communication with the global investment community and raises awareness of capital markets. GCMA coordinates with global and regional financial institutions including the International Monetary Fund (IMF), World Bank Group (WBG), Islamic Development Bank (IsDB) and Arab Monetary Fund (AMF).

The Asset Management Chapter is led by Officers elected from the Chapter members, currently:

Peter Duke, Chair
Head of Intermediary Sales MEA
Fidelity International

Joe Tennant, First Vice Chair
Head of Middle East Intermediary
Schroders

Meshal AlFaras, Second Vice Chair
Head of Middle East, Africa & Central Asia
Janus Henderson Investors