The Council of Ministers adopts a decision to reshape the Board of Directors of the Securities and Commodities Authority
Abu Dhabi, February 9 / WAM / The Council of Ministers approved a decision to agree to reshape the Board of Directors of the Securities and Commodities Authority for a period The Board of Directors of the United Arab Emirates Bank, His Excellency Rashid Abdel Karim Al Balushi, Undersecretary of the Department of Economic Development in Abu Dhabi, His Excellency Faisal Youssef Saltin, CEO of the Dubai Economic Security Center, and His Excellency Arif Mohamed Hadi Amiri, CEO of the Dubai World Financial Center, and His Excellency Hamad Sayyah Al Mazrouei, CEO of the registration authority in the Abu Dhabi Global Market, and a representative of the youth category that is nominated by the General Secretariat of the Council of Ministers.
The Securities and Commodities Authority is responsible for adopting public policy, approving the general regulations and rules of the authority, setting the necessary plans and programs to implement them after their approval, and the approval of regulations and programs aimed at organizing and developing financial and commodity markets in the country in line with international best practices, and developing legislation and regulations that govern the work Markets, support for innovation in financial services, enhance the investment awareness of the public, enhance cooperation with local and international bodies to exchange experiences and keep pace with global developments in the securities and commodity sector.
The Authority’s Board of Directors, in coordination with the relevant authorities, is also responsible Exceptional circumstances threaten the proper functioning of the market, freezing, suspending or re -working with any regulations or system related to the market, and other procedures, in a manner that guarantees the achievement of transparency, protecting the rights of investors and enhancing confidence in the financial markets in the country.
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