The UAE Financial Markets Association (FMA) signed a cooperation agreement with the International Capital Market Association (ICMA) to boost their cooperation and mutual membership.
The agreement also covers exchange of expertise and information on regulatory developments and international best practices in the financial markets sector.
Under the newly signed agreement, both parties will coordinate their efforts to design educational training programmes, prepare analytical reports for financial markets and explore opportunities to improve automated trading technology.
They will also cooperate in effective trading practices, clearing and settlement procedures, and will also work together to share their expertise and experience, with the ICMA briefing the other side on its global financial markets experience.
Mohammed Al Hashemi, Chairman of UAE FMA, and Bryan Pascoe, CEO of ICMA, signed the agreement, in the presence of a number of senior officials from both sides.
Al Hashemi said the agreement was in line with the association’s efforts to expand its network of influential strategic partners with extensive experience in the global financial markets.
“This will help the association’s members gain new experience and will provide them with the skills and knowledge they need to do business in the global financial markets, while also broadening the scope of investment opportunities for both sides,” he said.
Al Hashemi said the agreement will also help boost local investment opportunities and draw in further foreign capital thanks to the association’s role in giving partners a thorough and integrated view of the capital markets in the GCC countries.
Pascoe said the UAE was one of the best destinations for capital looking to invest in its various sectors, especially in financial markets.
“The agreement will undoubtedly contribute to strengthening ICMA’s relationship with UAE FMA and expanding the frontiers of joint collaboration to create investment opportunities and bring about greater qualitative leaps in the regional financial markets,” he said.
The UAE FMA also co-hosted on Wednesday a conference, featuring a series of interactive panel discussions with stakeholders in the local market.
The conference also highlighted topics such as market practice and regulatory policy, automation, digitalisation, and legal technology in the financial market sector.
Follow us on
