Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday launched the second market in the UAE for private companies, which will be operational in a few months.
The plan, which was proposed by the Securities and Commodities Authority (SCA), reflect the wise UAE leadership’s keenness to reaffirm the important role played by the public and private stock trading companies in building the nation’s economy and joining the government in achieving sustainable development.
The plan aims to pioneer the development of stock markets that contribute to the growth of the national economy following the best global practices and standards, in line with UAE Vision 2020, and enhancing the UAE’s competitiveness in all indicators and reports.
The project was reviewed and approved when Shaikh Mohammad received Sultan Saeed Al Mansouri, Minister of Economy and Chairman of SCA, and Abdullah Al Turaifi, Chief Executive of SCA.
