20 suggestions to return the light to the financial markets

Financial expert Reda Mosallam, partner and general manager of Truth Economic and Management Consultancy, said that one of the most important aspects of the progress of countries is the level of readiness of their financial markets and their compatibility with what would allow them to intertwine front and back with the world markets at all levels, whether primary markets or Emerging or advanced, pointing out that the regulators in the country have succeeded in the past years in completing all the requirements to upgrade to advanced markets.

He pointed out that the financial markets of state are almost perfect, including the following official legislative and supervisory bodies: the Ministry of Economy (Legislation governing the laws issued on the management of financial and economic life), the Central Bank of the UAE, the Securities and Commodities Authority (the regulators and the regulator of financial markets). , The Abu Dhabi Securities Exchange, the Dubai Financial Market and the local economic departments.

He pointed out that the State has also completed all the legislation that represents the infrastructure of laws that allow the acceptance of financial and monetary instruments that do not currently exist, in accordance with international best practices, pointing out that the regulators in the country spare no effort in the sustainable development of financial markets.

He reviewed some of the tools and mechanisms that the markets may need to develop to attract more foreign investment and full openness to the world markets, to integrate with them, including the gradual transformation of government giants into public joint-stock companies for selected government companies in the petroleum, extractive and strategic industries, in order to increase the relative weight of value of the market capitalization of state markets compared to the market values of world markets, This contributes strongly to the promotion of state markets to be advanced.

He explained that it is possible to establish a private shareholding company for clearing to increase the effectiveness of the transfer of ownership of shares both locally and international investors, and facilitate the establishment of asset management companies and management of public and private investment funds, pointing out that it is possible to increase the free shares available for trading in the ownership of strategic companies and commercial banks, which Attracts more foreign investment.

He called for the need to encourage family and private groups to become a public shareholding and the inclusion of what this step is of great importance in the development of companies and ensure the smooth succession of generations in family groups, pointing to the significant role played by public offerings and inclusion in creating value for companies Seeking to implement growth and sustainability strategies.

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