The European Union announced on its website that it issued a decision recognizing the regulation of central clearing activities in the commodities markets issued by the UAE Securities & Commodities Authority. By this decision, the UAE is the first Arab nation to receive such recognition by the EU.

H.E. Sultan bin Saeed Al Mansoori, Minister of Economy/ Chairman of the Board of Directors of the SCA, praised this achievement which reflects how much the UAE government has a high regard to the investors and affirms the development achieved in the capital and commodities markets in the UAE that reflects their attractiveness and competitiveness at the regional and international levels. He considered that such recognition represents a part of a series of the SCA’s efforts toward uplifting the capital and commodities markets in the UAE to rank among the markets of the developed countries. He also pointed out that such recognition is a necessary step toward recognizing the central clearing firms established in the UAE by the European Securities and Markets Authority (ESMA) which will enable these firms to deliver their services to the banks and financial institutions in the European Union which would positively influence the volume of institutional investments, especially the foreign investment, in the UAE.