Based on the directives of the wise leadership, and within the framework of achieving the strategic objectives of both parties, aimed at protecting the rights of investors and enhancing the financial stability of the national economy in the country, the MoI and the Securities and Commodities Authority concluded today a memorandum of understanding regarding the exchange of information about illegal practices and activities in the stock and commodities market in the UAE.
The memorandum was signed on behalf of the MoI, Maj. Gen. Khalifa Hareb Al Khaili, Undersecretary of the Ministry, and on behalf of the Authority, H.E Dr. Maryam Butti Al Suwaidi, CEO of the Authority, in the presence of
The memorandum of understanding aims to enhance joint cooperation and exchange information related to the securities and commodities market in the country to achieve effective access to and share available sources of information, with regulatory coordination in order to achieve deterrence of illegal financial practices and activities, and to ensure the safety of transactions that take place in the stock market in the country.
Furthermore, the memorandum seeks to enhance coordination between the two parties in a manner that achieves security and financial security in the investment environment in the country's securities, and to ensure the effectiveness of financial systems to combat money laundering crimes, as well as cooperation with other regulatory authorities and law enforcement agencies with regard to suspicious transactions and activities in the stock and commodities market.
Following the signing, Maj. Gen. Khalifa Hareb Al Khaili, Undersecretary of the MoI, affirmed the keenness of the wise leadership's vision to strengthen the integrated government work system by strengthening partnerships and cooperation with all agencies and institutions to enhance the quality of life of the Emirati society and preserve its security and stability. Today, we are witnessing the signing of this memorandum, which comes within this approach that seeks to achieve the strategic goals and objectives of the UAE government in sustainable development.