The Securities and Commodities Authority (SCA) entered into an agreement with Xerox to build a new system that facilitates the provision of its core services. The system covers all services provided by SCA's technical departments, specifically those provided by the Supervision, Licensing, Issuance, and Enforcement departments.

In creating this system, Xerox engages the services of OpenText, a major global company specialized in the development of such similar systems. 

Following the signing of the agreement, Dr. Obaid Al Zaabi, CEO of SCA, said that the purpose of the agreement is to develop a user-friendly and comprehensive system that aims at expediting procedures and connecting all of SCA's technical and non-technical departments through a single platform.  

He added that this is a pioneer experiment and a qualitative leap in the provision of services. The system facilitates the registration, licensing, and issuance processes and procedures. It also facilitates financial inspection as it will be made available for inspectors to use onsite. The system can also be linked with other government bodies and departments in the future to facilitate the exchange of information.