Maktoum bin Mohammed: We have great ambitions for the next stage... and we need innovative ideas
Appointment of a new board of directors for the Dubai Financial Market
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and Chairman of the Higher Committee for the Development of Capital Markets and Exchanges in Dubai, announced the appointment of a new Board of Directors for the Dubai Financial Market headed by Hilal Saeed Al Marri, and the membership of each of: Chairman of the Board IIA management, Abdul Qadir Obaid Ali, DP World Group Chief Financial Officer, Yuvraj Narayan, CEO of Smart Dubai Government Corporation, Wissam Lootah, partner in the law firm “White and Case” and board member of the Dubai Financial Services Authority, Abdul Wahed Al Olama.
The council will also include in its membership: a communication and marketing expert, Moza Al-Marri, a financial and administrative expert, and a member of the Association of Accountants and Auditors in the Emirates, Mohammed Humaid Al-Marri.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum thanked Issa Kazim for his efforts in managing the Dubai Financial Market since its establishment,
He said: "Brother Issa Kazim contributed to the establishment and management of the Dubai Financial Market twenty years ago, and his efforts will always be appreciated."
His Highness directed the new board of directors to work to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to formulate a comprehensive development vision for Dubai's financial markets and stimulate growth through policies and action plans that achieve the emirate's ambition to double the size of the emirate. The financial markets in Dubai will reach three trillion dirhams during the coming period.
His Highness Sheikh Maktoum bin Mohammed Al Maktoum stressed: “We are confident in the ability of the new board of directors to contribute to achieving the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum for the financial markets and exchanges.” He added: “We have great ambitions during the next stage, and we need innovative and important ideas.” The Council consolidates Dubai’s global position in the financial markets.”
His Highness chaired the first meeting of the Higher Committee for the Development of Capital Markets and Exchanges, and the appointment of the new board of directors came in the wake of the announcement by His Highness Sheikh Mohammed bin Rashid Al Maktoum to assign His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum to supervise the financial markets and exchanges in Dubai, and to set a development vision. Comprehensive financial markets and stock exchanges in the emirate to meet the requirements of the current stage, and consolidate the leading position occupied by Dubai as one of the most important and active financial markets at the regional and global levels during the past decades.
• Deputy Ruler of Dubai thanked Issa Kazim for his efforts during 20 years in managing the market.
Consolidating Dubai's position
The development vision of the financial markets and stock exchanges in Dubai aims to consolidate the emirate’s position as a vital financial center at the regional and global levels, and in light of the need to develop innovative financial solutions and tools that meet the developments witnessed by the world, and the structural changes required in the working mechanisms of the financial system, especially the financial markets. .
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