As part of the efforts of the Securities and Commodities Authority (SCA) to sustainably improve the performance of UAE financial markets and to be abreast with latest international financial market developments and legislations, the SCA set up in 2007 an advisory board to provide technical advice to SCA board of directors and prepare the necessary studies on any subject matter requested by the Board. The Advisory Board follow-up developments related to international laws, legislations and regulations, as well as all technical regulations on international financial markets in order to provide suggestions on the most appropriate practices for the SCA and UAE securities markets.
Since its establishment, the board has held several meeting which mainly dealt with issues related to the issuance of regulations according to priority and significance, specifying the objectives of those regulations which take into consideration the special nature of the UAE local markets and the potential effect of global crisis on the UAE markets.
The board also makes suggestions on avenues of developing the UAE financial services industry. It also evaluates the impact of regulations and decisions issued by the SCA on the UAE securities sector and those doing business in that sector, conduct studies to identify areas that need development in the working environment of the SCA and the UAE securities markets, in particular and in the UAE financial sector, in general, in addition to other matters that would be referred to the Advisory Board by the SCA Board of Directors, Chairman or the SCA Chief Executive Officer.
The Advisory Board consists of persons with wide range of experience in the securities sector. They serve on the board for a period of two years renewable. Following are the profile summary for each member.