At the Strategy and Organizational Excellence Department's High Committee Meeting
Dr. Obaid Al Zaabi confirms achieving the highest performance rates, pursuing innovative approaches, and employing e-systems introduced by SCA
H.E. Dr. Obaid Saif Al Zaabi, Acting CEO of the Securities and Commodities Authority (SCA), chaired the Strategy and Organizational Excellence Department's High Committee meeting held at SCA.
The meeting—which included H.E. Mohammed Al Hadari, Deputy CEO for Organizational and Supporting Services and SCA's department managers—reviewed the 2017 semiannual performance report of SCA's departments and organizational units, the 2016 happiness and positivity study findings, and the customer happiness study findings (December 2016 to March 2017).
Dr. Al Zaabi issued directives to strengthen and implement initiatives that aim to achieve SCA's strategic objectives, most notably reinforcing the legislative framework necessary for developing UAE-based capital markets; safeguarding investor rights; promoting transparency and corporate governance practices; ensuring the provision of all administrative services in line with the standards of quality, efficiency and transparency; and establishing a culture of innovation in an institutional workplace.
Dr. Al Zaabi also reviewed a comprehensive report about the initiatives launched to achieve these objectives, including drafting regulations and issuing decisions necessary for upgrading the UAE markets to developed market status, studying and monitoring financial market variables, coordinating and increasing the level of cooperation with the relevant institutions and counterparties, raising the efficiency of supervision, guarding financial markets against potential systemic risk arising from engaging in licensed business activities, raising and spreading investment and legal awareness among market participants, raising the professional efficiency of financial market professionals and other professionals, managing financial resources effectively and efficiently, ensuring highly efficient internal and external communication, developing a strategic plan and measuring performance, adopting the latest innovation tools and methods, and enhancing operations to foster innovation.
SCA's department managers made a presentation, outlining the strengths and the areas requiring improvement in the performance of each department, the challenges faced, and the suggestions offered for improvement and development. Dr. Al Zaabi applauded the progress made by a number of departments and stressed the importance of a new e-system introduced by SCA, indicating that it will have positive implications on the cycle of work and the nature of operations. He underscored the need to train the human resources to use the system and to hone their skills to meet all workplace requirements.