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Abu Dhabi Executive Council sets up panel to study Abu Dhabi bourse regulations

posted on 05/06/2006: 1128 views

General Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council presided over the council's ordinary weekly meeting, held in Abu Dhabi yesterday. During the meeting, a presentation was made by the Abu Dhabi Securities Market on its achievements and vision for the future.

The Council decided to form a committee to study ADSM regulations and to propose suitable procedures to improve market performance and to put in place a governance system. The committee may engage specialised and experienced consultants to help it in drafting laws and suggesting market mechanism as per international standards.

Sheikh Hamed bin Zayed Al Nahyan, Chairman of Planning and Economy Department was appointed Head of the committee. The other members are Hamad Al Hurr Al Suweidi, Under Secretary of the Finance Department and Hareb Masoud Al Darmaki.

The Council approved a memorandum submitted by the Finance Department on the budget of Abu Dhabi Wastewater Company. Also approved was a memorandum submitted by the Interior Ministry on allocation of extra amounts set up a rapid intervention unit for Al Ain Civil Defence. A presentation was made by the Abu Dhabi Police GHQ on its vision and objectives including expansion of facilities and installations to create integral police services in Abu Dhabi. (Emirates News Agency, WAM)


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