DUBAI – The United Arab Emirates Capital Markets Association (UAE FMA) has signed a cooperation agreement with the International Capital Markets Association (ICMA) to enhance their cooperation and mutual membership, as well as to exchange expertise and information on regulatory developments and international best practices in the field. financial markets sector.
Under the newly signed agreement, the two parties will coordinate their efforts to design educational training programs, prepare analytical reports for financial markets, read advanced data and explore opportunities to improve automated trading technology.
They will also cooperate on efficient business practices, clearing and settlement procedures, and also work together to share expertise and experience, with ICMA informing the other party about its experience in global financial markets.
Mohammed Al Hashemi, President of the UAE FMA, and Bryan Pascoe, CEO of ICMA, signed the agreement, in the presence of a number of senior officials from both parties.
Expressing his happiness with the promising partnership, Al Hashemi stressed 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 he will help the members of the association to acquire a new experience. and provide them with the skills and knowledge they need to do business in global financial markets, while expanding the scope of investment opportunities for both parties.
Al Hashemi said the agreement will have a positive impact on boosting local investment opportunities and attracting additional foreign capital thanks to the association’s crucial role in giving partners an in-depth and integrated view of capital markets. in the GCC countries, thereby expanding its operations in the GCC countries. border markets and broadening its scope beyond local markets.
Bryan Pascoe, on the other hand, pointed out that the United Arab Emirates is one of the best destinations for capital seeking to invest in its various sectors, especially in the financial markets, now that it offers a safe haven for all types of investments, as evidenced by the increasing growth in various sectors. “The agreement will undoubtedly help strengthen ICMA’s relationship with the UAE FMA and expand the boundaries of joint collaboration to create investment opportunities and bring greater qualitative leaps in regional financial markets” , Pascoe said.
Meanwhile, the UAE FMA on Wednesday co-hosted a conference titled “Dynamics and Developments in International Repo Markets – A Lens on the Middle East and North Africa” in the presence of the International Capital Markets Association. .
The conference included a series of interactive panel discussions with local market stakeholders who discussed the opportunities and challenges facing pensions and guarantees in the global financial market, as well as related opportunities in the Middle East region. and North Africa.
The conference also highlighted topics such as market practices and regulatory policy, automation, digitalization and legal technology in the financial markets industry.