Dr. Obaid Saif Hamad Al Zaabi
CEO of SCA
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.