DFM forms new Compliance Committee to supervise market regulations
Helal Al Marri was recently appointed to chair Dubai Financial Market’s new board
Dubai: The newly formed Board of Directors of the Dubai Financial Market Company held its first meeting on Monday November 8. This was Helal Saeed Al Marri’s the first meeting as DFM’s new chairman. The Board addressed the decisions related to market developments and DFM’s plans to strengthen Dubai’s status as a global capital markets hub.
The Board of Directors appointed Hamed Ahmed Ali as the CEO of the company.
The Board has formed a new Compliance Committee in charge of market regulations in line with international best practices. It has also approved the formation of other Board committees including:
- Audit Committee;
- Investment Committee; and
- Nominations and Remunerations Committee
The Board invited the General Assembly to amend the Company’s Articles of Association to increase the Board of Directors’ number from seven to nine members. The amendment is subjected to SCA’s (Securities and Commodities Authority) approval.
“The DFM is well-positioned to reinforce its role given its infrastructure and regulations as well as its highly capable team,” said Helal Saeed Al Marri, Chairman of the Dubai Financial Market Company. “It is imperative that we jointly work to realize the leadership’s vision on developing Dubai’s capital markets and to elevate to leadership’s expectation.”