21 May 2017

Abu Dhabi, United Arab Emirates (UAE) – Tatweej Academy for Excellence Awards has awarded Abu Dhabi Securities Exchange (ADX) Chief Executive, Rashed AlBlooshi, Arab Eagle Award for General Management 2017.

The awarding ceremony was held in Dubai, under the patronage of H.E. Major General Nasser Salem Al Nuaimi, Secretary General of the Minister of the Interior's Office, and with the presence of delegations from GCC and the Arab World.

The award came to honor Rashed Al Blooshi’s significant management of ADX which enabled the Exchange to regionally pioneer while utilizing technology to attract foreign investments in line with the strategic goals of the UAE.

During Al Blooshi’s tenure as Chief Executive, ADX adopted a significant number of global best practice rules and regulations, as well as most innovative practices.  Among which was adopting blockchain technology in the Exchange’s e-Voting services, which is a first of its kind for financial markets in the MENA region. 

On this occasion, ADX Chief Executive said: “The achievements of ADX since its inception in the year 2000 have been a cumulative effort to attract skilled and professional human resources whom are utilizing their efforts to achieve the vision, mission, and the objectives of ADX. This has enabled the Exchange to become an attractive, transparent, and efficient market place, as part of ADX’s commitment to Abu Dhabi Plan in developing the financial services sector in the Emirate, and in line with Abu Dhabi Economic Vision 2030.”

“This honor is as much to our loyal team of employees and staff as it is to me. It is an accolade for the ADX family, and I am delighted accept it on their behalf as we look forward to continued success in the future.” Al Blooshi added.

Tatweej Academy for Excellence Awards board of trustees have allocated several criteria for selecting Arab Eagle winners annually. The criteria includes the efficiency of formulating and developing the vision, mission, and the policies framework; the ability to overcome challenges and invest in opportunities; as well as creative thinking and empowering employees of the entity on all management levels.

About Abu Dhabi Securities Exchange (ADX)
Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management.  The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions.

These functions are:

  • Provide opportunities to invest savings and funds in securities in order to benefit national economy.

  • Ensure the soundness and accuracy of transactions and to ensure the interaction between demand and supply in order to determine prices.

  • Protect investors through establishing fair and proper dealing principles between various investors.

  • Impose stringent controls over securities transactions to ensure sound and conduct procedure.

  • Develop investment awareness by conduction studies and issuing recommendations in order to ensure that savings are invested in productive sectors.

  • Ensure financial and economic stability and develop trading methods in order to ensure liquidity and stability of prices of Securities listed on the market.

    ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA).

    At the end of 2016, ADX had 71 listed securities with a market capitalization of AED 475 billion (USD 129 billion).  Those securities include 66 public joint stock companies, 2 private joint stock companies, 1 Exchange Traded Fund (ETF), 1 Abu Dhabi Government

     Fund, and 1 convertible bond.   ADX listed companies are allocated in nine sectors; Banking, Real Estate, Consumer Staples, Investment and Financial Services, Industrial, Telecommunication, Services, Energy, and the Insurance sector. 

    ADX allows for investors to trade through any of the registered brokerages at the exchange through advanced electronic automated services. ADX has also signed a number of agreements with major financial institutions to provide for custody services, including renowned international corporations; namely the National Bank of Abu Dhabi (NBAD), HSBC, Standard Chartered, Deutsche Bank and Citi Banking Group.

    ADX goals are in line with Abu Dhabi Government Economic Vision 2030.  The 2030 economic plan plays a vital role in ADX strategy since it places the financial market in the context of economic and social development.  The development would be through diverting savings towards investment in the various economic sectors and developing the financial infrastructure of Abu Dhabi to transform the emirate into one of the leading finance and services center in the region.

    In 2014, ADX was upgraded to ‘Emerging Market’ status by both MSCI index (Morgan Stanley Capital International) and S&P Dow Jones, thus greatly increasing the likelihood of inward global investment flows. ADX was already classified as an Emerging Market by FTSE in 2009 and in 2011 by S&P and Russell Investments. 

    In 2015, ADX won the Most Innovative Exchange GCC 2015 Award.  The award, given by Capital Finance International, celebrates achievement, innovation from an international perspective, recognizing organizations with innovative technology products backed by strong management, excellent service standards and sound business models. Capital Finance International is a leading print journal and online resource reporting on business, economics, and finance.

    • © Press Release 2017