A Memorandum of Understanding between Dubai Financial and the Land Department on the use of the eServices portal

27-02-2019 Media in \Dubai
Dubai Financial Market (DFM) signed a memorandum of understanding (MoU) with the legal arm of the Land and Property Department, the Center for Settlement of Rental Disputes, aimed at enhancing cooperation between them in areas of common interest, in particular the joint procedures between the Center and Dubai Financial Market. To be able to benefit from the portal of electronic services in the market when applying for judicial proceedings relating to market participants.
The MoU was signed by Essa Kazim, Chairman of DFM and Sultan Butti Bin Mujrin, Director General of the Department of Land and Property, in the presence of a number of officials from both sides.
The Memorandum of Understanding provides an enabling environment for strengthening cooperation and exchange of knowledge and experience between the two sides. It also sets a clear framework for the implementation of the decisions of the Dispute Settlement Center regarding the seizure or decommissioning of securities and the distribution of cash dividends to investors whose securities have been seized by the Court.
This step reflects the conviction of DFM and the Department of Land and Property represented by the Lease Dispute Resolution Center for the importance of coordination and cooperation between them in increasing the effectiveness of their respective activities and supporting their efforts to enhance the leading position of Dubai and the UAE in terms of institutional excellence and quality of services.
The Dubai Financial Market (DFM) has a close relationship with several government institutions, including the Land Department, as part of the market’s keenness to join forces with all relevant institutions to promote a favorable and attractive business environment in Dubai.
He expressed his happiness with this new step which strengthens the bonds of cooperation with the Department and looks forward to the important developments that will result in upgrading the mechanisms of communication between the Dubai Financial Market and the Dispute Resolution Center, especially the adoption of the Dubai Financial Services Portal as an official channel for communication. Vision and guidance of the wise leadership of the importance of utilizing the latest technology to provide smart and sophisticated services to all market participants where the market in this regard to provide an effective and safe electronic channel to communicate directly with many institutions and bodies cooperating with the market The land department and property, which will leave a tangible impact on the level of completion of the procedures quickly and effectively.
Sultan Batty Bin Mujrin said that this memorandum comes within the framework of constant care and continuous efforts to consolidate the partnership and cooperation with our various government institutions in accordance with the directives of the wise leadership to improve the performance of government and provide advanced government services to all clients in order to ensure our superiority over other international cities. All efforts to provide expertise and progress in the development of modern applications for all its institutional partners to contribute to the upgrading of the economic sector in Dubai and put the emirate on the list of the best international investment destinations.
Judge Abdul Qader Mousa, Head of the Center for Dispute Settlement, explained that the Center has been able to achieve qualitative achievements in resolving rental disputes in effective ways that contribute to enhancing transparency in the real estate sector, guaranteeing the rights of all parties and contributing to the spread of happiness and positive.