The Shoura Council has urged the Capital Market Authority (CMA) to adopt steps to avoid stock market crashes, such as the 2006 downturn that saw individuals lose billions, Arab News reported.
The participants demanded the CMA to review the state of financial brokerage firms to ensure they operate fairly and not compete with companies owned by commercial banks, said Fahad Al-Hamad, assistant chairman of the council.
He added that the council wanted a neutral agency to evaluate the CMA's performance and its level of success in achieving the goal for which it was established.