Dr. Obaid Saif Hamad Al Zaabi The Securities and Commodities Authority (SCA) plays an instrumental role in providing opportunities for investing savings and funds in securities and commodities, as well as in safeguarding the rights of investors and facilitating the provision of funds to companies to ensure economic and financial stability and serve the interest of the national economy in line with the UAE Vision 2021, developed by the country’s wise leadership and closely followed by the UAE President, H.H. Sheikh Khalifa bin Zayed Al Nahyan, and his brother, H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.
In this context, SCA’s mission is centered on putting in place the infrastructure foundations of the UAE-based securities and commodities markets, regulating innovative financial services and products, building bridges of cooperation and communication with international institutions, and raising its status and reputation at the local, regional, and international levels.
SCA had come a long way in developing the legislative infrastructure to keep pace with the latest developments in world markets, create a sound financial market where supply-and-demand mechanisms interact, support market regulatory components, raise the effectiveness and efficiency of inspection and supervision, take duly preventive measures, and enhance investment awareness of all financial market participants.
SCA makes sure that its role is in consistency with the initiatives contained in its strategic and operational plans and that it is derived from its vision, mission, and values aimed at developing the UAE-based securities and commodities markets by ensuring the application of the principles of transparency, integrity, and fairness; encouraging the culture of innovation; supporting institutional development; forging close partnerships with active institutions in the financial community and with local and international strategic partners; as well as by empowering nationals in supervisory and specialized positions.
Undoubtedly, the coming period will see further work and increased effort to strengthen the investment environment, create a favorable investment atmosphere to attract investors through drafting legislation to regulate securities products, ownership and trading mechanisms, supporting services, supervision elements, which all help to improve the securities sector and upgrade the UAE markets from emerging to developed status, as well as to make the best use of the good performance of listed companies and their profitability, the distinguished infrastructure of the UAE, and the robust foundations upon which the national economy is built.
Finally, SCA is sure that development is achieved through the best use of strengths, careful and systematic planning, hard work, determination to be at the top, and keeping up with the UAE government’s plans and aspirations.
May Allah bless us all.
Acting Chief Executive Officer of the Securities and Commodities Authority (SCA), 2016. Dr. Obaid Saif Hamad Al Zaabi has over 25 years of work experience in financial legislation, accounting, banking, finance and investment, and shari'ah-compliant finance from many leading financial institutions in the United Arab Emirates, such as the UAE Central Bank, Dubai Islamic Bank, Amlak Finance, and the Securities and Commodities Authority (SCA).
PhD in Finance and Banking from the UK-based Durham University, 2006.
MBA with distinction, 2000.
BSc in Business Administration and Accounting, 1989.
Memberships in Specialist, Professional Organizations and Associations
Full member of the Australia-based Institute of Certified Management Accountants (ICMA), Certified Public Accountant (CPA) from the United Kingdom, Certified Cost Accountant (CCA) from the US-based American Academy of Financial Management (AAFM), Certified Islamic Professional Accountant (CIPA) from the Accounting and Auditing Organization for Islamic Financial Institutes (AAOIFI), Member of the US-based Institute of Financial Consultants (IFC), Member of the UAE-based Accountant and Auditors Association (AAA), Board member at the GCC Accounting and Auditing Organization (GCCAAO), Member of the US-based International Federation of Accountants (IFAC), Member of the Advisory Board of the College of Business and Economics at the United Arab Emirates University (UAEU), and Member of the Islamic Financial Services Board (IFSB) in Malaysia.
Deputy Chief Executive Officer for Issuance and Legal Affairs at the Securities and Commodities Authority (SCA), 2014-2015.
Advisor of Research and Studies, Research and Awareness Department Director, and SCA’s Dubai Office Manager, 2008-2013 .
Senior Manager for International Business at Amlak Finance PJSC, 2007.
Head of Follow Up and Supervision at the Dubai Islamic Bank, 2005-2007.
Branch Manager at the Dubai Islamic Bank, 1998-2005.
Branch Manager at the Dubai Islamic Bank, 1998-2005.
Accounting Section Head at the UAE Ministry of Defence, 1990-1997.
Internal Auditor at the U.A.E. Central Bank, 1990-1998.
Sheikh Rashid Award for Academic Excellence, 2006 .
Best Branch Manager Award in Dubai Islamic Bank, 1998.
Outstanding Impact Award in International Relations, part of Al Forsan Employment Incentive Program, 2014 .