The Mohammed bin Rashid Award for Excellence in Government Performance as part of the Sheikh Khalifa Government Excellence Program, the most prestigious award for corporate excellence across federal government entities, fourth cycle 2016.
- Leading Federal Entity (entities with less than 500 employees).
Categories at the Level of Main Criteria
- Best Entity in Managerial and Financial Governance.
Distinguished Entity Award in these sub-categories: Human Resources, Motivation, Empowerment, and Level of Service.
- Outstanding Leader in Human Resources Award.
- 4th Middle East Financial Markets Excellence Award
received by H.E. Dr. Obaid Al Zaabi, CEO of SCA
- Distinguished Chief Executive Officer in the Financial Sector
received by H.E. Dr. Obaid Al Zaabi, CEO of SCA.
- SCA issued an integrated package of 13 regulations and decisions, including those concerning standards of corporate discipline and governance of public joint-stock companies, investment funds, issuing and offering shares of public joint-stock companies, central clearing companies, controls for publishing names of violators, and fit and proper controls for licensed companies and accredited individuals in the securities industry.
- SCA has taken several initiatives towards developing markets and converting them into a self-regulated financial markets. It transferred competence over a number of powers and activities to the markets, including those related to market making, securities lending and borrowing, margin trading, proprietary trading, short selling, online trading, direct market access, and XBRL disclosures.
- The transition from a vertical market (where trading, clearing, and settlement is done in one system) to a horizontal market that is based on complete separation between these three. This way markets become independent and self-regulated as there is a trading market, a central clearing company, and a depository and settlement company.
- Contributing to raise the country’s ranking on the Minority Investor Protection Index in the World Bank’s report by 39 ranks and leaping to the 9th rank globally.
- Launching the electronic voting mechanism for shareholders on the resolutions of the general assembly of public joint-stock companies listed on the local markets in the UAE.
- The IOSCO board approved SCA’s proposal to use Arabic as an official language in across the organization.
- Launching the Continuous Professional Development (CPD) Program and supervising the approval of training hours for individuals working in the financial markets sector.
- SCA became a member of IOSCO’s Steering Committee on the MMoU Monitoring Group.