Day: October 9, 2021

ABU DHABI, The Abu Dhabi National Oil Company (ADNOC) announced Saturday, a special 6-day paid leave for all its employees across the ADNOC Group to enable them and their families to visit Expo 2020 Dubai, in line with the directives of the Abu Dhabi Government. The leave can be used at any time during Expo 2020, which runs from October 1, 2021, to March 31, 2022.

ADNOC granted this special leave to ensure its employees have the opportunity to explore the immersive cultural experiences, innovations, and solutions on display at the global event which is being held under the theme “Connecting Minds, Creating the Future”. The company is keen for its employees to participate in and gain new insights and perspectives from this unique event which is bringing the world together in Dubai to shape a brighter and more prosperous future.

ADNOC prioritises the health and wellbeing of its employees and is committed to creating an environment for them to thrive. This 6-day leave supports the company’s broader initiatives aimed at enabling its employees to achieve a healthy work-life balance.

Source: Emirates News Agency

ABU DHABI, Regulatory authorities and financial markets in the UAE will participate in the events of the International Organization of Securities Commissions (IOSCO), which will be launched Sunday as part of the “Global Investor Week 2021” campaign that aims this year to enhance the financial culture of investors and shed light on the issues around which the campaign events revolve, including sustainable finance, fraud and deception prevention.

The authorities participating in the campaign are the Securities and Commodities Authority (SCA), Abu Dhabi Securities Exchange (ADSX), Dubai Financial Market (DFM), Dubai Gold and Commodities Exchange (DGCX), Financial Services Regulatory Authority of Abu Dhabi Global Market, and Dubai Financial Services Authority. The authorities participating in these events look forward to strengthening and elevating the UAE’s position as a leading financial center in the region and the world, in line with the vision of the UAE’s government and the State’s national agenda.

This year’s Global Investor Week campaign is expected to highlight the importance of raising awareness of four main themes: financial fraud, sustainable financing, the basics of investing, and electronic investment.

Dr. Maryam Al Suwaidi, Acting CEO of the Securities and Commodities Authority stated: “The themes covered in this year’s campaign reflect the challenges the financial world is facing in the post-pandemic period, as the world today is exposed to unprecedented threats. As a result, the financial community must respond to and overcome these threats by promoting sustainable investment.” She added that “the spread of digital technologies used in investment poses new challenges in containing and tackling financial crimes, which investors should be aware of.”

The CEO of Authority noted that the keenness to participate in the “Global Investor Week” initiative annually by disseminating protection messages to dealers in financial instruments, and clarifying the supervisory role of Authority that it exercises to achieve the safety and stability of financial markets, through several mechanisms provided by law to protect the rights of dealers in the markets and achieve balance between them or whatever measures it deems necessary to reduce manipulation and fraud in markets.

Dr. Maryam Al Suwaidi explained that “The Authority made sure that the events of this year’s initiative are characterized by launching a mixture of awareness activities that combine activities with physical attendance and events held remotely – using electronic communication techniques – in line with the precautionary measures applied to reduce the risks of Covid-19.”

The participating authorities organized an integrated package of events, including virtual seminars for investors, dialogue sessions for universities and colleges students, in addition to a campaign to be launched via social media platforms during the period between 10 and 14 October to shed light on the issues around which the campaign events revolve (sustainable finance, and fraud and deception prevention).

In addition to broadcasting awareness messages in Arabic and English through various media, as well as to the accounts of the authorities participating in the campaign on social media networks.

As for the campaign messages, they vary between messages related to IOSCO, and others prepared by Authority and aimed at educating those concerned with the financial sector in general, and the activities of securities in particular and they focus mainly on the themes of “financial fraud” and “sustainable finance”.

“SCA participates in the events of “Global Investor Week 2021” by “IOSCO” due to its being an active member of the International Organization of Securities Commissions, knowing that supervisory authorities representing at least 100 States, which are members in IOSCO, participate in the events.

The State’s supervisory authorities are keen to actively participate in the various activities of international organizations and their regional committees, so that it can follow up on the latest developments and keep pace with relevant global standards, which will positively reflect on the local economic reality, and reflect the position of the UAE in international forums.

It should be noted that the International Organization of Securities Commissions (IOSCO) had launched its awareness initiative entitled “Global Investor Week” for the first time in 2017, with the aim of raising the levels of financial knowledge and enhancing the culture of capital market investors.

Year after year, this initiative acquires double importance in return for its efforts to educate and protect investors, a matter that is increasing in importance in light of the conditions witnessed by the global economic conditions since nearly two years, as a result of the repercussions of the Corona virus pandemic and the precautionary measures to confront it.

The purpose of this initiative is to enhance the culture of investors and preserve their rights through the concerted efforts of all authorities supervising the securities and commodities sector within the member states of the Organization, in addition to employing various means of communication and media in order to enhance investor awareness and highlight the role entrusted to regulatory authorities and financial markets in protecting investors.

IOSCO – which is considered as the reference authority for the supervisory authorities of the securities markets in the world – includes members from more than 100 States around the world, as its membership includes the securities regulatory authorities, the World Bank, the International Monetary Fund and several financial markets in addition to financial and monetary institutions. The number of its members is more than 200, including 114 of the securities regulatory authorities. The member states of IOSCO control and regulate more than 95% of the financial markets around the world. IOSCO seeks to strengthen the bonds of cooperation among its members and to develop regulatory standards on the securities markets in order to ensure the highest levels of transparency and effectiveness in trading operations, facilitate the exchange of information and experiences, and standardize regulatory standards.

IOSCO also seeks to provide protection for investors and increase their confidence in the integrity of financial markets by encouraging cooperation in the field of financial market supervision and brokers and cooperation for the purpose of curbing improper practices. IOSCO works to enhance the coordination process among all its members in order to develop, apply and implement internationally recognized standards. IOSCO facilitates the exchange of information at the regional and international levels to assist in the development of financial markets, strengthening the infrastructure of the markets and enacting appropriate legislations.

Source: Emirates News Agency