The Emirates Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the International Islamic Centre for Reconciliation and Arbitration (IICRA) to boost cooperation between them in the areas of resolution of securities and commodities-related disputes, as well as in scientific and professional partnership.
H.E. Maryam Butti Al-Suwaidi, SCA Deputy Chief Executive Officer for Legal Affairs, Issuance and Research, signed the MoU for her side, while Dr. Abdul Sattar Al-Khuwailidi, IICRA Secretary General, also signed the agreement for his outfit during a ceremony attended by officials from both sides.
In a comment after the signing of the agreement, Al-Suwaidi expressed happiness on the agreement which she said was very important and in the mutual interest of the two sides.
She pointed out that the scope of cooperation, according to the MoU, includes joint cooperation in providing legal services in the area of arbitration, orientation and training of arbiters, as well as sharing of information, including studies, researches and statistics, in addition to participation of the two sides in organizing conferences, forums, workshops to achieve the objectives of the MoU. She said the two sides had also discussed mechanisms for implementing the MoU.
The signing of the agreement is within the framework of the SCA's general strategy of building partnership with related local bodies with the aim of improving its performance according to international best practices and taking the SCA to greater heights among its peers from various parts of the world.