Tahkeem,Sharjah Securities & Commodities Authority mull development co

24/07/2016 05:13 AST

AS part of its ongoing plan to boost strategic partnerships with UAE authorities, a delegation from the Sharjah International Commercial Arbitration Centre (Tahkeem) visited the Securities and Commodities Authority (SCA) on Saturday to discuss how cooperation in the field of economic dispute settlement can be enhanced. The aim is to further maintain the trust and status of the securities and commodities markets and boost their attractiveness to foreign investors.

Received by Dr Obaid Saif Hamad Al Zaabi, CEO of the Securities and Commodities Authority, Tahkeem’s delegation highlighted how the development of mutually beneficial relations would also create and prepare a new generation of experienced arbitrators. Discussions included the prospect of collaboration on the issuing of accredited certificates for commercial arbitrators in securities and commodities markets, across the UAE.

Al Zaabi said: “Today’s meeting has provided both parties with an opportunity to discuss the enhancement of our collective efforts in the field of arbitration – with particular relevance given to the special practices and applications in UAE securities and commodities. We are pleased to collaborate with Tahkeem, so as to establish ever stronger foundations for a secure and stable investment environment, which boosts the UAE’s attractiveness to foreign investment.”

During the meeting, Ahmed Al Echlah, Director of Tahkeem, presented a briefing about the prominent role arbitration has taken, since Amiri Decree No (6) of March 22, 2009, was issued by Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the UAE Supreme Council and Ruler of Sharjah. The decree’s aim is to increase and disseminate a culture of arbitration among the various business sectors – locally and internationally – while correspondingly developing a new generation of commercial arbitrators. Therefore, the overriding objective of Tahkeem is to become the top destination for the resolution and settlement of commercial and investment disputes.”

During the visit to the SCA’s head office, Tahkeem’s delegation was given a tour of all its departments and shown how the SCA provides high quality services that all investors in the UAE financial markets demand.

Saudi Gazette