Sharjah 24: Securities and Commodities Authority (SCA) remotely signed a Memorandum of Understanding (MoU), with Sharjah Media City (Shams). This came in the aim of building the foundation to initiate cooperation between the two sides.

His Excellency Dr. Obaid Al Zaabi, CEO of Securities and Commodities Authority (SCA), signed the MoU, along with His Excellency Dr. Khalid Omar Al Midfa, Chairman of Sharjah Media City (Shams). 

The MoU confirms the importance and necessity of exchanging experiences, studies and research, with regard to the policies carried out by the two sides, along with the organisation of conferences and meetings.  

His Excellency Dr. Al Zaabi indicated that the signing of the MoU resembles a step towards cooperation with strategic partners, in order to exchange information and support financial investigation efforts, stating His Excellency’s appreciation to the efforts exerted by Shams in support to business activities to entrepreneurs.

His Excellency Dr. Al Zaabi maintained that such cooperation comes to enhance joint collaboration of exchanging of knowledge, experiences on all levels, as well as supporting creativity and innovation. In addition to the provision of training programmes in the field of capital markets and the financial services industry, with the aim of developing and improving professional standards and increasing awareness of financial products and instruments traded in the financial markets.

For his part, His Excellency Dr. Al Midfa said that the signing of the MoU with SCA comes within Shams’ keenness to fulfill the vision and directions of Sharjah government, which is part of SCA’s vision to provide a sustainable investment environment in an advanced financial market. 

His Excellency Dr. Al Midfa added that Shams is following up on the footsteps of SCA, praising its achievements in all areas that concern investors. Shams, in turn, works to provide a supportive environment for investors from inside and outside the country, ensuring the provision of services within society.

His Excellency Dr. Al Midfa expressed thanks and appreciation to SCA and its role and efforts in regulating the stock and commodity markets in the UAE, through its supervisory and executive efforts.

Its noteworthy to mention that the MoU specifies aspects of cooperation between the two sides in the matter of spreading investment awareness and enhancing it using the available channels on both sides, promoting SCA's investment awareness activities, and cooperating in organising conferences, meetings, seminars and workshops related to the competencies of the two sides.