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Awards and Achievements

Awards:

Winning the following awards as part of the Sheikh Khalifa Government Excellence Program:

  1. Leading Federal Entity.
  2. Distinguished Federal Entity in Performance Management as part of the Emirates Award for Human Resources in the Federal Government, first cycle.

Achievements:

  1. Issuing the first license for financial consulting activity.
  2. Issuing 4 licenses for custodians.
  3. Licensing 4 companies to act as registrars for private joint-stock companies.
  4. Starting to license margin trading and proprietary trading.
  5. SCA was awarded the ISO 9001:2008.
  6. Starting to approve applications for mutual fund incorporation in coordination with the UAE Central Bank after the competence over licensing and legislation in this regard was transferred to SCA.
  7. SCA celebrated the 10th anniversary of its establishment by organizing a forum titled “Supervisory Authorities and Financial Markets” and issuing a stamp and commemorative coin on this occasion.

Achievements:

  1. Issuing 5 new regulations concerning market making, liquidity provision, securities lending and borrowing, short selling of securities, and investment funds.
  2. Signing a memorandum of understanding with IOSCO.
  3. SCA’s CEO was awarded Honorary Fellowship of the Chartered Institute for Securities & Investment (CISI).
  4. The IT Department obtained ISO 27001:2005 for information security.
  5. Opening the Virtual Financial Market Training Hall at Sharjah University. His Highness Sheikh Dr. Sultan Al Qasimi, Supreme Council Member and Ruler of Sharjah, has inaugurated the hall.
  6. Inaugurating the new headquarter of SCA’s branch in Dubai. The new headquarter includes: SCA’s different departments, the General Secretariat of the Union of Arab Securities Authorities (UASA), the Professional Training and Examinations Centre (PTEC), and the Chartered Institute for Securities & Investment (CISI).

Awards:

Leading Federal Entity:

  1. Technical Team/Distinguished Team.
  2. The Prime Minister’s Medal for the Supervisory Employee as part of the Sheikh Khalifa Government Excellence Program.

Achievements:

  1. Issuing 5 new regulations concerning market making, liquidity provision, securities lending and borrowing, short selling of securities, and investment funds.
  2. Signing a memorandum of understanding with IOSCO.
  3. SCA’s CEO was awarded Honorary Fellowship of the Chartered Institute for Securities & Investment (CISI).
  4. The IT Department obtained ISO 27001:2005 for information security.
  5. Opening the Virtual Financial Market Training Hall at Sharjah University. His Highness Sheikh Dr. Sultan Al Qasimi, Supreme Council Member and Ruler of Sharjah, has inaugurated the hall.
  6. Inaugurating the new headquarter of SCA’s branch in Dubai. The new headquarter includes: SCA’s different departments, the General Secretariat of the Union of Arab Securities Authorities (UASA), the Professional Training and Examinations Centre (PTEC), and the Chartered Institute for Securities & Investment (CISI).

Awards:

SCA received the Best Workplace in the Public Sector Award as part of the 2015 MENA HR Excellence Awards.

Achievements:

  1. Successfully completing the upgrade of the UAE financial markets to emerging market status on the MSCI and the S&P Dow Jones indices.
  2. Signing a multilateral memorandum of understanding on consultation, cooperation and exchange of information on the supervision of alternative investment funds with the European Securities and Markets Authority (ESMA).
  3. In coordination with the Emirates Competitiveness Council, SCA took measures that helped to raise the country’s ranking by 39 ranks in the Investor Protection Index within the World Bank’s Report of 2014.
  4. Qualifying 107 financial services brokers and staff after passing the PTEC’s examinations.
  5. Launching two qualifying programs: the Certified Compliance Officer Certificate-Advanced Level and the Certified Technical Analyst Certificate-First Level.

Awards:

The Human Resources and Financial Affairs Department received the following MENA HR Excellence awards:

  1. Distinction in Healthy Workplace Strategies-Corporate Wellness.
  2. HR Professional of the Year in the Public Sector.
  3. The UAE securities markets were reclassified from Frontier to Emerging Market Status by MSCI.

Achievements:

  1. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai launched the second market in the UAE financial markets and opened trading on it.
  2. The UAE was ranked first for “Effective Corporate Boards” index according to the International Competitiveness Yearbook released by the Swiss-based International Institute for Management Development (IMD) in May 2014. SCA focused on this in its aim to raise the country’s ranking to the first rank in global competitiveness indexes.
  3. The UAE topped Arab and Middle Eastern countries on the investor protection index, and leapt 59 ranks internationally, making the list of the ten most improved economies according to the World Bank’s assessment.
  4. Licensing a number of financial services including market making, margin trading, DMA, and proprietary trading.

Awards:

  1. The Emirates Award for Human Resources in the Federal Government (Overall Performance Award and the Level of Service Award).
  2. The Emirates Award for Human Resources in the Federal Government (The Promising Executive Award granted to Mustafa Al Marzouqi, Human Resources Department Director).
  3. Best Workplace in the Public Sector as part of the 2015 MENA HR Excellence Awards.
  4. H.E. Mohammed Al Hadari, Deputy CEO for Supporting Services, received the 2015 Champion of Change Award presented by the MENA HR Excellence Awards.
  5. The HR Contribution to Organization Award by the Asia HRD Awards.
  6. The e-Government Excellence Award by the Pan Arab Excellence Awards Academy in these two categories:
    • Overall Level of Performance (Diamond Award).
    • Best Smart Applications (Official and Government Entities at the UAE Level).

Achievements:

  1. Issuing 6 new regulations, including regulations concerning clearing in commodities markets and registering auditors of public joint-stock companies and investment funds.
  2. Completing the plan to provide services via smart phones, and the development of electronic and smart services for customers.
  3. Issuing the first approval for lending and borrowing agents.
  4. Signing a (multilateral) memorandum of understanding with the authorities regulating financial markets in the GCC states.

Awards:

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.

Main Category

  1. Leading Federal Entity (entities with less than 500 employees).

Categories at the Level of Main Criteria

  1. Best Entity in Managerial and Financial Governance.

Main Category

Distinguished Entity Award in these sub-categories: Human Resources, Motivation, Empowerment, and Level of Service.

  1. Outstanding Leader in Human Resources Award.
  2. 4th Middle East Financial Markets Excellence Award

    received by H.E. Dr. Obaid Al Zaabi, CEO of SCA

  3. Distinguished Chief Executive Officer in the Financial Sector

    received by H.E. Dr. Obaid Al Zaabi, CEO of SCA.

Achievements:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. The IOSCO board approved SCA’s proposal to use Arabic as an official language in across the organization.
  7. Launching the Continuous Professional Development (CPD) Program and supervising the approval of training hours for individuals working in the financial markets sector.
  8. SCA became a member of IOSCO’s Steering Committee on the MMoU Monitoring Group.

Awards:

  1. Best Initiative for Supporting Gender Balance. Initiative for Women’s Representation on Corporate Boards
  2. SCA has become a member of the MMoU Monitoring Group Steering Committee, represented by IOSCO's AMERC.

Achievements:

  1. SCA reinforced the legislative infrastructure of financial markets by issuing 18 new regulations and decisions, including the rules of acquisition and merger of public joint-stock companies and the promotion and introduction activities.
  2. SCA launched the Islamic Capital Market Strategy, the first of its kind regionally and internationally.
  3. SCA launched a plan for applying blockchain and fintech technologies in the field of financial markets in line with the Fourth Industrial Revolution.
  4. SCA implemented a project to foresee the future of SCA and the capital markets in the country until 2050 and the required development of proactive strategies based on a number of scenarios.
  5. SCA completed its new organizational structure to improve performance and ensure focus on SCA’s main objectives and operations.
  6. SCA launched the National Project for Investment Awareness and Financial Inclusion in Financial Markets.
  7. SCA won the bid to host the 45th Annual Conference of IOSCO in 2020 in Dubai.

Awards:

  1. The Emirates Award for Human Resources in the Federal Government (Customer Pillar), fourth cycle.
  2. SCA's CEO, H.E. Dr. Obaid Saif Al Zaabi, was named GEMC's Chair, IOSCO's largest committee, for the term 2018-2020. Accordingly, SCA has become Vice Chair of the IOSCO board

Achievements:

  1. SCA issued 25 new regulations and decisions, including those concerning the central depository activity, issuing and offering Islamic securities, approving the fintech regulatory framework (Fintech Regulatory Sandbox Guidelines), regulating derivative contracts, and licensing credit rating agencies.
  2. For the first time, SCA won a seat in the IOSCO Board.
  3. For the first time in the Arab region, Dr. Obaid Al Zaabi was named Vice Chairman of the IOSCO Board.
  4. Dr. Al Zaabi assumed the position of chairman of IOSCO’s largest Committee, the Growth and Emerging Markets Committee (GEMC).
  5. Dr. Obaid Al Zaabi was officially elected as Co-Chair of the MENA-OECD Working Group on Corporate Governance.
  6. SCA signed a regulatory agreement (Passporting) with the Abu Dhabi Global Market (ADGM) and the Dubai Financial Services Authority (DFSA) to facilitate the process of licensing investment funds in each of them and promote them across the country.
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