ADSM calls for effective legal system to cope with needs of capital markets
Abu Dhabi Securities Market (ADSM) has asked for the development of an effective legal framework to deal with the dynamic requirements of the growing capital markets.
Speaking at the Securities Markets and Bourses Conference organised by the Dubai Chambers of Commerce and Industry (DCCI), Rashed Al Baloushi, acting director-general, ADSM, highlighted the market's exposure and achievements in the area of international best practices during the last 6 years.
Rashed said: "The challenges of globalisation and increased competition prompt institutions which is working in the field of economic development to take the best global experiences and study the possibility of its application to achieve continuity in economic growth and social prosperity".
He urged the need to implement corporate governance in the GCC, prepare a system that is compatible with the needs and to improve the level of disclosure and transparency in the public joint stock companies to ensure that investors get the information more effectively which will help them take good investment decisions.The ADSM, he said, was currently working on the development of a market website, which will be a major source of information and data relating to the capital market in the UAE. The website will be launched this year, he added. Source
Speaking at the Securities Markets and Bourses Conference organised by the Dubai Chambers of Commerce and Industry (DCCI), Rashed Al Baloushi, acting director-general, ADSM, highlighted the market's exposure and achievements in the area of international best practices during the last 6 years.
Rashed said: "The challenges of globalisation and increased competition prompt institutions which is working in the field of economic development to take the best global experiences and study the possibility of its application to achieve continuity in economic growth and social prosperity".
He urged the need to implement corporate governance in the GCC, prepare a system that is compatible with the needs and to improve the level of disclosure and transparency in the public joint stock companies to ensure that investors get the information more effectively which will help them take good investment decisions.The ADSM, he said, was currently working on the development of a market website, which will be a major source of information and data relating to the capital market in the UAE. The website will be launched this year, he added. Source
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