Chairman Message

Chairman Message

About SCA

H.E Mohamed Ali ALShorafa ALHammadi

Chairman of SCA Board,

Today, the Authority is focused on achieving the goals set by our wise leadership of having both the Authority and the local capital markets become worldwide leaders. The Authority strives to becoming the benchmark for regulatory authorities among the regional and global financial markets.

With that in mind, the Authority is adamant to raising the level of transactions in the capital and commodity markets in the State by following the highest standards of transparency, integrity and justice. We are committed to continuously developing our services for better dealings, to enhancing mechanisms to preserve the rights of investors in the financial market, to developing a professional competitive environment among financial service companies ensuring the highest standards of excellence, to observing the highest standards of disclosure, to raising the efficiency and effectiveness of inspection and control processes, to implementing appropriate measures against market violators, to working on reducing the volume of risks, and to developing an investment awareness campaign that caters to our main stakeholders through a variety of channels.

In light of these commitments, the Authority is planning a series of initiatives and events that will cater to developing and updating bylaws and regulations aligning with the changes that occur at an international level against best practices, developing regulations and tools that would add depth to the State's securities markets, complying with accounting and international auditing standards for securities issuers, issuing standards of professional conduct for dealers, investing in the human capital that work in the securities sector through training, and training professionals in brokerage companies and financial services specifically.

Moving forward, the Authority is dedicating the necessary resources towards regulating financial technology professional licensing incubators (Fintech Sandbox), implementing initiatives for financial technology applications offered by the Authority such as crowdfunding platforms, regulating virtual assets and digital issuances, blockchain digital transactions system, and others.

Conclusively, we further confirm our commitment towards the continuous development and adoption of international best practices in the global financial market placing the Authority and State’s capital markets among the best in the world – in line with the governments vision.

H.E Mohamed Ali Al Shorafa

H.E ِAbdulla Bin Touq Al Marri

Minister of Economy

His Excellency Abdulla bin Touq Al Marri was appointed as Minister of Economy as part of the new Cabinet reshuffle announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, on July 2020.

His Excellency has served as Secretary-General of the UAE Cabinet since October 2017 where he oversaw the functioning of the General Secretariat of the Cabinet and supported decision making and implementation within the Cabinet by introducing qualitative government initiatives and programs and revising government policies.

He previously served as Director-General of the Executive Office of His Highness Sheikh Mohammed bin Rashid Al Maktoum and oversaw the development of several key projects in Dubai, including the Hatta Development Project. He was appointed as Executive Director for Excellence and Leadership at the Prime Minister’s Office and oversaw the Sheikh Khalifa Government Excellence Program and the launch of the 4th Generation of the Government Excellence System for the Mohammed bin Rashid Excellence Award.

His Excellency Al Marri oversaw the Area 2071 project, a key driver in the efforts to realize the UAE Centennial goals, and the relaunch of the Mohammed bin Rashid Centre for Leadership Development and the Arab Strategy Forum. He also served as the Chief Executive Officer of the Dubai Future Foundation and oversaw the launch of Dubai 10X and the second and third cohorts of the Dubai Future Accelerators and the Artificial Intelligence Strategy.

His Excellency holds a bachelor’s degree in Civil Engineering from the University of Sheffield in the UK. He is also a graduate of the UAE Government Leaders Programme and the Mohammed bin Rashid Programme for Leadership Development.

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