Dr. Maryam Butti Al-Suwaidi, CEO of the Securities and Commodities Authority, held a meeting with Jamal Saleh, Director General of the Emirates Banks Federation, to discuss strengthening aspects of coordination and cooperation between the Authority and the Emirates Banks Federation, with the aim of supporting and encouraging the local asset management industry, and providing an attractive and stimulating environment for investment management companies and fund service providers. Professionals, in a way that leads to a tangible boom in the local asset management industry. The meeting’s agenda dealt with discussing many mechanisms of joint strategic cooperation between the Authority and the Federation of UAE Banks. The United Arab Emirates is a center for asset and wealth management. The meeting resulted in the Authority and the UAE Banks Federation agreeing to form a joint committee for continuous cooperation and coordination, with regard to legislative developments and development trends related to the asset management sector and the financial sector in the country. The two sides also agreed to develop a joint action plan to take executive steps to advance the local asset management sector, and encourage banks and financial institutions to establish local entities to carry out asset management activities in the country. The agenda of the meeting also included joint cooperation in the field of exchanging research and studies that will be prepared in the field of asset management, and organizing a joint forum to promote the asset management sector in the UAE with the aim of attracting foreign entities to establish their business in the country, in addition to cooperation in supporting and promoting green and sustainable investment funds, and encouraging Financial institutions to move towards the establishment of this type of investment funds.
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