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    Extra announces the

    Following the conclusion of a meeting of its General Assembly on Monday, 30 September, 2013, United Electronics Company (eXtra) announced that a unani...
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    Saudi Cancer Foundat

    A national campaign for breast cancer awareness kicks off on the 5th of October at Eastern Province in the presence of more than 400 physicians and sp...
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    STC offers pilgrims

    Within STC preparations for 1434H Hajj, it has reinforced its sales outlets big quantities of cards and cell phones. ...
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    Epicor demonstrates

    Epicor Software Corporation, a global leader in business software solutions for manufacturing, distribution, retail and services organizations, announ...
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Press Release

Former KSA CMA senior official to join Al-Jadaan and Clifford Chance in Saudi Arabia

Clifford Chance and Al-Jadaan & Partners Law Firm announced today the appointment …

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Extra announces the results of its General Assembly of approves cash dividend of 12.5% for the H1 of 2013

The cash dividend is equivalent to SAR37.5m or 12.5% of the company’s …

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Saudi Cancer Foundation launches its fifth national breast cancer awareness campaign

Dr. Abdulaziz Alturki, President Saudi Cancer Foundation, said the campaign, organized by …

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Analysis

Abu Dhabi Global Market forms expert panel of 16 international financial institutions to support the development of new regulatory framework

Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, announced that its Pre-Open Market Consultation is underway and that ADGM has formed an expert panel of 16 leading international financial institutions to support the development of the draft regulatory framework, which will govern the operations of institutions licensed to operating from ADGM.

Guidance and input from members of the expert panel, which so far includes senior representatives from National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, First Gulf Bank, Mubadala Development Company, ADS Securities, Goldman Sachs, J.P. Morgan, HSBC, Standard Chartered, Pacific Investment Management Company) PIMCO (Lazard, Credit Suisse, International Swaps and Derivatives Association (ISDA) and Man Group, will be instrumental in tailoring the regulations to be adopted by ADGM to ensure that they create an environment to attract global players in the financial industry.

Ahmed Ali Al Sayegh, Chairman of ADGM, said: “The Pre Open Market Consultation process is a major step in preparing Abu Dhabi Global Market to receive its first licence applications from financial institutions in 2015. Consultation and collaboration are at the core of ADGM’s ambition to become a global financial centre and we are delighted to be working with our panel of renowned global financial institutions to ensure that when ADGM launches, it will offer a regulatory regime that provides maximum support and protection for business and is also completely compatible with the leading financial centres in the world.”

ADGM will be a broad based financial services centre which will, …

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