Sheikh Mohammed launches Second Market

(Dubai) – His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, has launched the Second Market in the U.A.E. financial markets.This came after His Highness was briefed on the project submitted by the Securities and Commodities Authority in this regard, whereby he directed that trading should begin over the next few months.
The announcement was made when His Highness Sheikh Mohammed received H.E. Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Board of Directors of the Securities and Commodities Authority, and Abdullah Al-Turifi, Chief Executive Officer of the Authority, who made presentations on the project objectives, stages of completion and positive impact on the financial markets and the national economy.
H.E. Sultan bin Saeed Al Mansouri said that H.H. Sheikh Mohammed’s approval for the launching of the Second Market reflects the foresight of the U.A.E. wise leadership and the latter’s recognition of the significance of both the public and the private joint stock companies in building the country’s economy and in teaming up with the government to achieve sustainable development, adding that with their resources and experience, these companies contribute immensely in development programmes and this means that their welfare and good performance reflect on the country’s welfare and good performance, in general, including the financial markets.
(Courtesy WAM)