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Minister Lauds SCA’s Role in Investor-friendly Laws

Al Mansouri said the Authority has been working to boost investment attraction of UAE securities and commodities markets, through the promulgation and issuance of investment-friendly laws and regulations that had impacted positively on the investment climate.

In a statement on the occasion of launching a collection of postal stamps and a First Day Cover by the Emirates Post to mark the tenth Anniversary celebrations of SCA, the Minister for Economy said that the onward march on the path of development is continuing side by side with the amendment some of the current legislations and regulations.

Al Mansouri added that the SCA’s achievements in regulating the operation and functions of stock markets in the country are now a show piece for all. “The issuing of the collection of commemorative stamps and coin is part of our celebration to commemorate the take-off of the SCA, one of the vital pillars of the UAE economy,” the minister said in a statement.

Abdullah Salim Al Turifi, SCA Chief Executive Officer, said the Authority will continue to update its regulations to live up to the latest developments on the markets.

He said amendment of the regulations will be made in accordance with the demands of the markets, adding that the SCA had taken giant strides on the path of providing sound and fair principles of transactions on the markets and described those strides as “great and important towards achieving its aspirations 
and objectives”.

On the occasion of tenth anniversary of Securities and Commodities Authority or SCA, the Emirates Post has issued a collection of stamps in the Dh1, Dh2, Dh3 and Dh5 denominations, in addition to a commemorative post card and the First Day Cover. The stamps are now ready for sale at its Central Post offices in Abu Dhabi, Deira and Karama.

On Sunday, the UAE Central Bank has also issued a commemorative silver coin to mark the 10^th anniversary. At a ceremony, in Dubai, Engineer Sultan bin Saeed Al-Mansoori, Minister of Economy, received from Ibrahim bin Karam, Executive Director of Emirates Post a plaque containing a collection of the commemorative stamps and the First Day cover. Abdullah Salim Al Turifi, SCA Chief Executive Officer, was present at the ceremony.


—haseeb@khaleejtimes.com