His Excellency Essa Kazim, Chairman of Dubai Financial Market (DFM), has honored the winners of the inaugural round of the DFM Chairman’s Award. During the ceremony, HE Essa Kazim praised the efforts of DFM employees behind various initiatives which have helped to further fortify the market’s leading position and to achieve its strategic goals as (The World Class Regional Marketplace).
The award distribution was part of DFM’s Annual Gathering for employees recently held at the Armani Hotel Burj Khalifa in the presence of HE Essa Kazim, Chairman of DFM and Ali Almazroei, Board Member of DFM, as well as division heads and employees. The Chairman’s Award is designed based on Dubai Quality Award (DQA) standards to recognize and reward top performers for their efforts which helped to implement various development initiatives, achieve strategic goals and reinforce DFM’s leading position regionally and internationally.
During the gathering, HE Essa Kazim expressed his delight with what has been achieved over the past period noting that Innovation and Efficiency are at the forefront of DFM’s corporate values and that these achievements should be the motive and trigger more successes to further strengthen Dubai’s position as an international financial centre in line with the vision and directions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai to place the UAE at the forefront of the highest achieving countries worldwide.
During the gathering, DFM’s Chairman has demonstrated some of the achievements of the past three years, stating that DFM started to reap the fruits of its growth strategy adopted in 2011 which led to quantum leaps in market infrastructure comprehensiveness and the excellence and innovation of its services. DFM’s development efforts played a crucial role in MSCI’s decision to classify the UAE as emerging market. Moreover, the market became the main attraction for investors with its general index up more than 107% in 2013 and up 53% year to date, leading the best performing exchanges globally. The average of daily trading value has jumped 350% year to date to AED 1.95 billion and the exchange has attracted 11,509 new investors, a 92% increase compared to the corresponding period of last year.
According to HE Essa Kazim, DFM has implemented more than 30 development initiatives including; the implementation of Delivery versus Payment (DvP), the implementation of Buyer Cash Compensation, the introduction of Direct Market Access (DMA), Margin Trading, and issuing the necessary regulations for Market Making and Warrants. The DFM has also accelerated the pace of efforts in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, to transform towards smart services as the exchange’s electronic services have seen tremendous development, with most being made available via smart phone applications.
“Moreover, DFM initiatives have covered issuer services including cash dividend distribution on behalf of listed companies and management solutions for annual general meetings. The DFM has successfully implemented cash dividend distribution for 8 companies with a total value of AED 2.25 billion through various tools including IVESTOR Card. The DFM also managed 4 annual general meetings for listed companies and its e-IPO platform has been efficiently utilized during the recent IPO of Marka.” HE Essa Kazim added.