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Muhammad Ali Al-Shurafa, Chairman of the Board of the Securities and Commodity Authority, confirmed that the securities and commodity sector in the country has experienced a qualitative leap, represented by a package of key initiatives and developments over the past year, which a positive impact through momentum, activity and growth, at the level of the financial sector in particular. And the economist in general, notes the government’s ongoing efforts to upgrade the sector and put local markets at the forefront of the best-performing markets worldwide last year.
He added in the annual report of the Securities and Commodities Authority for the year 2021 that the government, in cooperation with the financial markets and the relevant authorities, was able to overcome the repercussions of the “Covid 19” pandemic, thanks to the wise economic policies of the rational leadership, launched at the time, and included a number of incentive packages that were very successful in accelerating the growth rate, promoting the economy, and contributing to increasing the depth of markets , to improve their efficiency, and improve their investment attractiveness to investors at home and abroad.
He explained that the amendments made to the Trade Companies Act in the UAE, which allowed foreigners to establish companies and own them 100%, had a positive impact on increasing the investment attractiveness of local markets, which consolidates investors’ confidence in listed companies. , diversification of liquidity between domestic and foreign, and institutional liquidity and individuals.
He said there was hope for continued performance at this pace, especially that all estimates and indicators call for optimism in the coming period, with a promising performance for the state’s security sector in general, based on development plans aimed at to make a qualitative leap in the performance of the markets, and based on the fact that the national economy of the state It is characterized by strength and solidity, thanks to the sound vision of the rational leadership.
optimism and confidence
In turn, the dr. Maryam Butti Al-Suwaidi, CEO of the Securities and Commodities Authority, said that the advanced investment environment, the flexible legislative framework in the country, and initiatives aimed at establishing a culture of innovation and adopting modern technologies have increased levels of optimism and confidence among local and international investors in the investment opportunities they offer Companies listed in the local financial markets, in their various sectors.
She added that 2021 is one of the best years the UAE’s financial markets have seen, as trades have recorded record increases in the level of indices, the prices of listed companies and the market value, and it has become truly worthy of being seen. as the “year of recovery and recovery”, for the local financial markets.
And she continued: The listings in the Abu Dhabi and Dubai markets were also active in trading activities, which helped to increase the depth of the market, stimulate the appetite of local and foreign investors and their confidence in the available strengthen investment opportunities.
She explained that the power of national policies and strategies was derived from the wise leadership and its guidelines, and the fifty principles, which were implemented to improve the competitiveness and attractiveness of the business environment, and entrepreneurial activities in the country, and to start attracting. -up companies, is a major focus of the axes that have contributed to supporting the money market system and its successes.
On the other hand, the total value of cash dividends and bonus shares approved by the general meetings for public shareholder companies during the past year amounted to about 34.4 billion dirhams, including cash dividends of 34 billion, and bonus distributions worth 396 million dirhams.
In its annual report for the year 2021, the government said that the banking sector issues cash dividends at about 15.79 billion.
The government has received many requests to issue securities and requests for registration, as it has been approved to register 4 state-owned companies, including “ADNOC Drilling”, “Etihad Digital Payments”, “Al Yah Satellite Communications” and “Alpha Abu Dhabi Holding “is. in addition to the listing of 9 companies A contribution to the local capital markets, in addition to the presentation of a company incorporated in the free zone, its shares for public listing in the capital markets.
And it agreed to list 5 public-owned joint-stock companies of the government, with a total capital of 16 billion dirhams, and it was approved to list 9 companies on the Abu Dhabi market, with a total capital of 21 billion .
The government has agreed to increase the capital of 10 public joint-stock companies, to a value of 64 billion dirhams, and to agree to reduce the capital of two public-owned joint-stock companies, to a value of 327.2 million dirhams, which include “Al is Khazna Insurance” and “Finance House”.
The number of local public limited companies registered with the government reached 180 by the end of last year, of which 113 were listed, of which 66 are in the Abu Dhabi market, and 47 in the Dubai market, in addition to 67 unlisted companies.
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