Obaid Al-Zaabi: The Central Bank Law dealt with overlapping powers with “securities

MediaIn + Agencies \ Abu Dhabi. 29 \ 10 \ 2018

Dr. Obaid Saif Al Zaabi, Chief Executive Officer of the Securities and Commodities Authority said that the issuance of the Federal Law of 2018 on the Central Bank and the regulation of financial facilities and activities worked to address the overlapping powers that existed between the Securities and Commodities Authority and the Central Bank earlier.

The committees formed during the last period to address the overlap of powers between the Ministry of Economy and the Authority and the Central Bank identified key areas in which these powers overlap, including the work of investment funds and governance and asset management activity, according to the Executive Chairman of the Securities and Commodities Authority, which explained that it focuses on non-banking investment activities generally.