Published On: Mon, Jan 19th, 2015

DMCC signs MOU with Security and Commodities Authority

Ahmed bin Sulayem, DMCC, Executive Chairman and Abdulla S. Al Turifi, SCA's Chief Executive Officer.

Ahmed bin Sulayem, DMCC, Executive Chairman and Abdulla S. Al Turifi, SCA’s Chief Executive Officer.

DMCC, one of the leading commodity hubs for trade and enterprise and the largest Free Zone in the UAE, today signed a Memorandum of Understanding with the UAE Security and Commodities Authority (SCA).

The two entities will collaborate to further enhance Dubai’s regulatory and supervisory standards with a focus on the country’s commodities sector. The signing ceremony was attended by the Executive Chairman of DMCC, Ahmed bin Sulayem, and Abdulla S. Al Turifi, SCA’s Chief Executive Officer.

Mr. Al Turifi, said, “The Security and Commodities Authority and DMCC share many common goals and the MoU that we have signed today will help these materialise further and faster. We want this market to thrive in a safe and controlled context for investors, and further enhancements within the commodities sector’s regulatory and supervisory framework will help us achieve this objective.” Mr. Sulayem, said, “At DMCC we value the importance and impact of strategic partnerships and mutual collaboration between government entities. The key purpose of the MoU with the Security and Commodities Authority is to enhance and improve regulatory standards, technical efficiencies and ease of doing business for the benefit of industry participants in Dubai such as traders, suppliers and financiers.

Source : WAM News Agency for United Arab Emirates

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