DFM Company's new Board of Directors discusses a number of development plans

H.E. Helal Al Marri praises previous board's achievements and emphasizes on jointly working to strengthen Dubai's status as a global capital markets hub

  
  • The Board appoints Hamed Ali as the DFM’s Chief Executive Officer
  • Formation of a new Compliance Committee in charge of market regulations, and other Board committees’ members designated
  • Resolution to invite General Assembly to consider amending the Articles of Association to broaden Board of Directors’ members to nine members

Dubai: The newly formed Board of Directors of the Dubai Financial Market Company (PJSC) has held its first meeting today, Monday 8th November 2021, chaired by His Excellency Helal Saeed Al Marri. The Board discussed and resolved on decisions related to market developments and DFM’s plans to further strengthen Dubai’s leading status as a global capital markets hub, in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on the progression of the financial markets.

The Board of Directors has appointed Mr. Hamed Ahmed Ali as the Chief Executive Officer of the Company as part of endeavors to empower new leaders, citing his considerable experiences and achievements in the capital markets sector.

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, Nominations and Remunerations Committee and Investment Committee.

The Board of Directors resolved on inviting the General Assembly to consider amending the Company’s Articles of Association to increase the Board of Directors’ number from seven to nine members. The General Assembly’s invitation and date of its convening will be published pursuant to receiving the Securities and Commodities Authority’s approval.

His Excellency Helal Saeed Al Marri, Chairman of the Dubai Financial Market Company (PJSC), said: “We would like to commended efforts and achievements of the previous board over the past years headed by His Excellency Essa Kazim. The DFM is well-positioned to reinforce its dynamic role given its world-class infrastructure and regulations as well as its highly capable team noting that Emiarti talents account for the vast majority of them. 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.”

-Ends-

About Dubai Financial Market:

Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari’a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company and its shares were listed on 7 March 2007 with the trading symbol (DFM). Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae 

For Media inquiries, please contact:
Atef Fathy
Vice President- Head of Media & Public Relations
Dubai Financial Market
Tel: 04-3055334
Email: afathy@dfm.ae 

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