SCA issues IR Guidelines at Middle East Investor Relations Society’s 6th Annual IR Conference & Awards Ceremony
- Securities & Commodities Authority (SCA) underlines importance of IR and issues guidelines for listed companies
- The 6th IR Conference is the largest IR focused event in the Middle East, held under the patronage of regional exchanges; ADX, DFM, Qatar Exchange, NASDAQ Dubai, Muscat Securities Market and the Palestine Exchange
- Entitled "IR 2020 – The Future of IR", the conference focused on the important role IR plays in fostering corporate transparency and governance going forward
- Announced winners of the Extel Survey IR Awards and Comprend’s Middle East Webranking
The Middle East Investor Relations Society recently held its 6th Annual Conference and Awards Ceremony in Dubai’s DIFC. During the conference, SCA’s Deputy CEO for Issuance and Legal Affaris, H.E. Dr. Obaid Al Zaabi, spoke about recent initiatives and developments in UAE regulations in relation to the IR function, and reiterated the important role IR will play going forward. Following the initial launch in March 2014, SCA has now issued guidelines to the new law that make it compulsory for listed UAE entities to set up an IR function.
"The SCA is delighted to be part of the Middle East Investor Relations Society’s 6th annual conference, which was an important forum for the Authority to re-represent the UAE's new directive for listed companies, first gazetted in March 2014," commented Dr. Ryan Lemand, Senior Economic Advisor and Head of Risk Management at SCA, and also a speaker at the event. "Making the IR function a compulsory requirement of all companies listed on our exchanges is a natural evolution of the electronic reporting standard we established in 2012 and as one of the first policies of its kind worldwide, reinforces the UAE's ambition to pioneer and lead with visionary developments."
"This new legislation is an important step in further professionalizing and enabling the UAE market, building a more sustainable investment case for international stakeholders and observers - all of which underpin and support the recent accession to MSCI Emerging Market status," added Oliver Schutzmann, Chairman of the Society and Head of IR at SHUAA Capital. "The focus of this year’s conference has been to look at IR as a strategically important function for listed companies in the context of recent developments that will open up the region to more foreign investor participation."
An unprecedented group of regional exchanges including the Abu Dhabi Securities Exchange, Dubai Financial Markets, Qatar Exchange, NASDAQ Dubai, Muscat Securities Market and the Palestine Exchange, had come together to support the conference, which remains the largest IR focused event in the Middle East. The conference also saw the recognition of the region’s top performers in the field of IR, with the announcement of the 2014 winners of the Extel Survey and the Comprend’s Middle East Webranking awards. A new addition to this year’s awards was the recognition of the top performing IR professional in seven of the nine individual markets covered by the survey. The full list of winners can be found below.
Winners of the 2014 Extel Survey IR Awards:
Best Company for Investor Relations, Bahrain - Aluminium Bahrain
Best Company for Investor Relations, Egypt - Commercial International Bank
Best Investor Relations Professional, Egypt - Hoda Yehya, GB Auto
Best Company for Investor Relations, Kuwait - National Bank of Kuwait
Best Investor Relations Professional, Kuwait - Amir Hanna, National Bank of Kuwait
Best Company for Investor Relations, The Levant - Arab Bank
Best Investor Relations Professional, The Levant - Sana Sabra, Bank Audi
Best Company for Investor Relations, Oman - Bank Muscat
Best Investor Relations Professional, Oman - Ahmed Al Khuzairi, Nawras
Best Company for Investor Relations, Palestine - Bank of Palestine
Best Company for Investor Relations, Qatar - Qatar National Bank
Best Investor Relations Professional, Qatar - Abdulla Al Sada, Qatar National Bank
Best Company for Investor Relations, Saudi Arabia - Almarai
Best Investor Relations Professional, Saudi Arabia - Ikram Haque, Almarai
Best Company for Investor Relations, UAE - DP World
Best Investor Relations Professional, UAE - Redwan Ahmed, DP World
Best Investor Relations by CEO - Hussain Abaza, Commercial International Bank
Best Investor Relations by CFO - Karim Karoui, First Gulf Bank
Leading Corporate for Investor Relations, Crisis Communications - DP World
Leading Corporate for Investor Relations, Corporate Access - First Gulf Bank
Best Company for Investor Relations, Middle East - DP World
Winners of the 2014 Comprend Middle East Webranking Awards:
First place - SHUAA Capital
Second place - DP World
Third place - TAQA
ABOUT THE ME-IR SOCIETY
The Middle East Investor Relations Society was established in 2008 and is an independent, not-for-profit organization dedicated to promoting international best practice Investor Relations standards across the region. We are committed to fostering increased dialogue among our members and encourage them to share and adopt best practice techniques within the field of IR.
In partnership with regional stock exchanges, regulators and other market participants, the Society supports listed firms through its membership programme, education, certification and peer networking. Our objective is to enhance the reputation, efficiency and attractiveness of the Middle East capital markets.
For more information relating to events, membership, education, training or sponsorship opportunities please contact:
General Manager, Middle East Investor Relations Society
00971 56 136 4661
All information is also published on www.me-irsociety.com