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Dubai, United Arab Emirates: The UAE Financial Markets Association (UAE FMA) and the International Capital Markets Association (ICMA) have signed a cooperation agreement to facilitate their cooperation and mutual membership, and to exchange expertise and information. Financial Markets Sector.
Under the newly signed agreement, both parties will coordinate efforts to design education and training programs, prepare analytical reports for financial markets, read advanced data, and explore opportunities to improve automated trading technology.
They will also collaborate on effective trading practices, clearing and settlement procedures, and will jointly share their expertise and experience, while ICMA will introduce each other to their experience in global financial markets.
Mohammed Al Hashemi, Chairman of the UAE FMA, and Bryan Pascoe, CEO of ICMA, signed the cooperation agreement in the presence of several senior officials from both parties.
Al Hashemi welcomed the promising partnership, stressing that the agreement is in line with the UAE FMA’s desire to expand its network of influential strategic partners with extensive experience in global financial markets, adding that it will contribute to the Members of the association gain new experience and will provide them with the skills and knowledge they need to do business in the global financial markets, while expanding the scope of investment opportunities for both parties.
Al Hashemi said that since the association plays a key role in providing partners with a comprehensive and comprehensive understanding of the capital markets of GCC countries, the agreement will positively reflect increasing local investment opportunities and attracting more foreign capital, thereby expanding its presence across sectors Business. frontier markets and expand its scope of work beyond the local market.
For her part, UAE Financial Markets Association Board Member Ohoud Al Ali stressed that the UAE FMA looks forward to keeping influential partners informed of the latest investment prospects offered by the UAE financial markets, based on the richness of partners in addition to informing members of the association. In addition to experience and skills, a flexible package of legislation and regulations is provided.
On the other hand, Bryan Pascoe emphasized that the UAE is one of the best destinations for capital seeking to invest in its various sectors, especially the financial markets, as it provides a safe haven for all types of investments, as growth in all sectors is on the rise. “This agreement will undoubtedly help strengthen ICMA’s relationship with the UAE’s FMA and expand areas of joint cooperation to create investment opportunities and bring a bigger qualitative leap to the regional financial market,” Pascoe said.
joint meeting
Meanwhile, the UAE FMA co-hosted a session yesterday (Wednesday) in the presence of the International Capital Markets Association entitled “Dynamics and Developments in the International Repo Market – A Middle East and North African Perspective”.
The conference featured a series of interactive panel discussions with local market stakeholders who discussed the opportunities and challenges facing repo and guarantees in global financial markets, as well as related opportunities in the MENA region.
The conference kicked off with a presentation by Alexander Westphal, ICMA’s Director of Market Practice and Regulatory Policy, in which he spoke about the main trends in European market buybacks and the digitization of settlement systems, their efficiency, sustainability and buybacks.
The conference also featured a presentation titled “Global and Regional Repo Market Trends” by Rahman Janjua, First Abu Dhabi Bank Credit Repo and Guaranteed Financing, in which he addressed the regional development and application of repo, key controls point, automation, Islamic repo, and financing and balance sheet management.
While the second panel discussion focused on automation, digitization and legal technology in the financial markets sector, another session with ICMA Senior Deputy Director Dina Saudi covered legal advice and developments in business, classified projects, and legal technology.
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