DFSA signs MoU with Capital Market Authority of Oman

Notes and media contacts

About DFSA:
The Dubai Financial Services Authority (DFSA) is the sole independent regulator of financial and ancillary services conducted through the Dubai International Financial Centre (DIFC), a purpose-built financial free zone in Dubai. The DFSA's regulatory mandate covers asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange and an international commodities derivatives exchange.


Abdullah M. Saleh was appointed as Chairman of the DFSA on 17th June 2007, having served as a Director of the DFSA since 2004. Mr. Saleh is the Vice Chairman of Emirates NBD PJSC and before its merger, he was Chairman of the National Bank of Dubai (NBD) and previously Managing Director, having been one of the bank's founders in 1963. Mr. Saleh is a former adviser on financial matters to the Late Ruler of Dubai, H.H. Sheikh Rashid Bin Saeed Al Maktoum. Mr. Saleh served as an Arbitrator on the Paris-based High Board of the Euro-Arab Arbitration Centre, from 1988 to 2000. He is a Board Member of the Dubai Chamber of Commerce & Industry (DCCI) and a Member of the DCCI Arbitration Committee. He has been a Member of the Board of Qatar Fuel Additives Company (QAFAC) since 1990 and has been Chairman of International Octane Limited (IOL) since 1990. He is a Director and major shareholder of Dubai Transport Company LLC (DUTCO), the holding company of the DUTCO Group of Companies. He has been Chairman of MARSHINSCO (insurance brokers) since 1976.

About CMA:
The Capital Market Authority (CMA) of the Sultanate of Oman was established in November 1998 and is responsible for organising and overseeing the issue and trading of securities in the Sultanate. The CMA administers and enforces the Capital Market Law, which empowers it to organise, licence and monitor the issue and trading of securities; to supervise the operations of the Muscat Securities Market; and to supervise all companies operating in the field of securities. In August 2004 the CMA also assumed responsibility for the regulation and supervision of the insurance sector in the Sultanate.

H.E. Yahya Bin Said Al Jabri, was appointed Executive President of the CMA by Royal Decree in 1998. He is also a Member of the Board of Directors at the Central Bank of Oman, a Board Member of the Civil Service Pension Fund, Chairman of Pak Oman Investment Company and Chairman of Majan Electricity Company. His Excellency was previously General Manager of Oman International Bank, where he was responsible for the complete operational aspects of the Bank which comprised of 81 local and 4 overseas branches in India and Pakistan. He is also a Member of the Hawkamah Institute for Corporate Governance.

For further information, please contact:
Ms. Angharad Irving - Jones
Manager, Communications and Strategic Planning
Dubai Financial Services Authority,Dubai, U.A.E.
Tel: +971 (0)4 362 1661
Fax: +971 (0)4 362 0801