New board of directors announced for Dubai Financial Market

A new board of directors has been appointed to lead the Dubai Financial Market, it was announced on Wednesday.

The new board will be headed by Helal Al Marri, the director general of the Dubai Department of Tourism and Commerce Marketing (DTCM), Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Dubai’s Deputy Ruler and Deputy Prime Minister and Minister of Finance confirmed on Twitter.

“Within the development vision adopted within the Committee for the Development of Capital Markets and Exchanges in Dubai, we announce today the appointment of a new board of directors for the Dubai Financial Market headed by Helal Al-Marri and the membership of a group of individuals with specialised competencies,” he said.

بتوجيهات محمد بن راشد آل مكتوم ومتابعة حمدان بن محمد حفظهم الله، وضمن الرؤية التطويرية التي اعتمدناها ضمن لجنة تطوير أسواق المال والبورصات بدبي نعلن اليوم عن تعيين مجلس إدارة جديد لسوق دبي المالي برئاسة الأخ هلال المري وعضوية مجموعة من الكفاءات التخصصية.

— Maktoum Bin Mohammed (@MaktoumMohammed) November 3, 2021

“My thanks and appreciation to the previous board of directors, especially Essa Kazim, for his efforts during the past 20 years since the establishment of the market and his successful leadership of it. The new council is trustworthy, and they have a great task set by Sheikh Mohammed bin Rashid in developing the market, and it will be the subject of my personal follow-up,” he added.

شكري وتقديري لمجلس الإدارة السابق وبالأخص الأخ عيسى كاظم على جهوده خلال ٢٠ عاماً سابقة منذ تأسيس السوق وقيادته له بكل نجاح. المجلس الجديد محل ثقة وأمامهم مهمة كبيرة وضعها محمد بن راشد في تطوير السوق وستكون محل متابعتي الشخصية. كل التوفيق لهم.

— Maktoum Bin Mohammed (@MaktoumMohammed) November 3, 2021

The latest decision comes after Dubai announced earlier this week that it would list 10 government and state-owned companies on DFM as part of accelerating new listings in various sectors including energy, logistics and retail.

Read: Dubai announces listing of 10 govt, state-owned companies on DFM

The Securities and Exchange Higher Commission aims to increase the size of the stock market in the emirate to Dhs3 trillion, raise the competitiveness of bourses and encourage initial public offerings (IPOs).

On Tuesday, it was revealed that utility Dubai Electricity and Water Authority (DEWA) will be listed locally in the “coming months”.

Read more: Dubai announces plans to list utility DEWA in the ‘coming months’