Dubai Financial Market (DFM) announced that the listed companies have registered a 96% compliance rate in terms of disclosure for the second quarter of 2019, within the legal time limit of 45 days from the end of the period.

The market said in a statement yesterday that the number of public shareholding companies, private joint stock companies and dual listing companies in the Dubai Financial Market, which disclosed its quarterly financial statements amounted to 64 companies out of 67 companies, while the company «Marka» and «Drake Company» Agility provided the market with only preliminary data.

The Market has submitted a detailed report to the Securities and Commodities Authority, including the dates of disclosure and observations thereon, in accordance with the requirements of the Authority. The Dubai Financial Market (DFM) has announced that it has partnered with the DIFC Authority's Hawkamah Institute to improve corporate governance practices in the UAE.

In 2017, DFM and Hawkamah signed a cooperation agreement to develop governance and sustainability practices in the corporate sector in the UAE, particularly Dubai. Since then, Hawkamah has trained more than 100 board secretaries of listed companies. He also provided brief presentations aimed at familiarizing the boards of more than 65% of DFM listed companies on corporate governance practices and the role of boards in corporate governance and sustainability.

Mr. Issa Kazim, Chairman of DFM said that governance and sustainability practices are central to our vision. We adopt best practices to ensure that these principles are embedded in listed companies.

“Our collaboration with Hawkamah has proved successful in improving the governance practices of DFM listed companies.”

“We have made great strides in advancing corporate governance standards in the UAE,” said Dr. Ahmed Hassan Bin Al Sheikh, Chairman of Hawkamah Institute. So far, the institute has trained more than 1,800 managers and more than 200 secretaries in various companies, and we look forward to continuing our collaboration to promote reforms in the region's corporate sector. ”

Hawkamah Institute has trained 100 board secretaries for companies listed on the Dubai Financial Market.