The MoU aims to promote investor awareness and offer training programs targeting financial markets
The Securities and Commodities Authority (SCA) entered into a memorandum of understanding (MoU) remotely with Sharjah Media City (Shams). The two parties agreed that the MoU would lay the foundations for a framework of joint cooperation.
His Excellency Dr. Obaid Al Zaabi, CEO of SCA, signed the MoU with His Excellency Dr. Khalid Omar Al Midfa, Chairman of Sharjah Media City. The MoU emphasized the importance of exchanging expertise and studies in various fields with the aim of raising the awareness of investors in the UAE securities markets, in addition to cooperating in producing studies and research papers that are relevant to the purposes of the MoU and that conform to the policies implemented by either party.
“Signing the MoU serves as a step on the path towards integration with our strategic partners to exchange information and underpin financial investigation efforts,” Dr. Al Zaabi said, expressing appreciation for the outstanding efforts made by Sharjah Media City (Shams) to support entrepreneurs with their business activities.
Dr. Al Zaabi further explained that “documenting such effective partnerships will promote joint action to exchange knowledge, expertise, and institutional experience at all levels, in addition to supporting innovation and creativity skills through institutional partnerships and training programs targeting the financial markets sector and the financial services industry to enhance the levels of professionalism and increase awareness of financial products and instruments traded on financial markets.”
“Signing the MoU with our partners at the Securities and Commodities Authority (SCA) demonstrates commitment to Shams’ approach, which is based on the vision and directives of the Government of Sharjah to continue to work toward fostering cooperation and joint action, using a variety of methods and mechanisms. It is also consistent with SCA’s vision to create a sustainable investment environment within an advanced financial market as well as with its mission that emphasizes protecting investor rights, promoting sound practices, and fostering an environment attractive to capital by relying on vital, innovative systems,” Dr. Al Midfa said.
“Sharjah Media City (Shams) is closely following SCA’s accomplishments and lauds its achievements in all investor-related fields,” he explained, adding that “Shams, for its part, is working to create an investment environment that supports investors from the UAE and abroad and is keen to provide services and facilities within a prosperous community.”
Dr. Al Midfa expressed his thanks and gratitude for SCA’s efforts in regulating the UAE securities markets by the powers vested in it and by exercising its supervisory, oversight, and enforcement functions.
In addition to the above, the MoU identified areas of cooperation between the two parties in respect of spreading and promoting investor awareness using the channels available to both of them, promoting SCA’s awareness-raising activities, and collaborating in organizing conferences, meetings, symposia, and workshops relevant to the mandates of each party.