Initial coin offerings would give companies an alternative to IPOs, which have been very limiting in the country.
The head of the United Arab Emirates Securities & Commodities Authority (ESCA) announced Monday that the country plans to provide companies with a new regulated way to raise money - through initial coin offerings (ICOs).
ICOs would offer companies an alternative to initial public offerings (IPOs) which, due to weak equity markets coupled with low oil prices, have been very limited. This has impacted not only the UAE but the whole Gulf Arab region.
Speaking at a seminar this Monday, Obaid Saif al-Zaabi said: “the board of the Emirates Securities & Commodities Authority has approved considering ICOs as securities. As per our plan we should have regulations on the ground in the first half of 2019.”
To achieve this, Zaabi revealed today that the regulator is working with the Abu Dhabi and Dubai stock markets to develop trading platforms for the ICOs. Further details will be announced in the future, he said.
In September, Finance Magnates reported that the regulator had approved a plan setting out its proposed framework to regulate crypto asset activities, including ICOs, exchanges and other intermediaries.
Under the guidelines, startups wishing to execute an ICO must approach the ESCA to see if it falls under the body’s Regulation. Also, market intermediaries and secondary market operators dealing with ICOs must be approved by the regulator.
Further Initiatives from ESCA
Zaabi also revealed that in 2019 a new law may come into effect. This would allow family owners to sell majority 100 percent stakes in the companies they control in initial public offerings. He added: “The Ministry of Economy has written to the prime minister’s office and we are awaiting approval.”
At the seminar this Monday, Zaabi also announced that the ESCA wants the boards of listed companies to have a female representation of 20 percent.
The head of the United Arab Emirates Securities & Commodities Authority (ESCA) announced Monday that the country plans to provide companies with a new regulated way to raise money - through initial coin offerings (ICOs).
ICOs would offer companies an alternative to initial public offerings (IPOs) which, due to weak equity markets coupled with low oil prices, have been very limited. This has impacted not only the UAE but the whole Gulf Arab region.
Speaking at a seminar this Monday, Obaid Saif al-Zaabi said: “the board of the Emirates Securities & Commodities Authority has approved considering ICOs as securities. As per our plan we should have regulations on the ground in the first half of 2019.”
To achieve this, Zaabi revealed today that the regulator is working with the Abu Dhabi and Dubai stock markets to develop trading platforms for the ICOs. Further details will be announced in the future, he said.
In September, Finance Magnates reported that the regulator had approved a plan setting out its proposed framework to regulate crypto asset activities, including ICOs, exchanges and other intermediaries.
Under the guidelines, startups wishing to execute an ICO must approach the ESCA to see if it falls under the body’s Regulation. Also, market intermediaries and secondary market operators dealing with ICOs must be approved by the regulator.
Further Initiatives from ESCA
Zaabi also revealed that in 2019 a new law may come into effect. This would allow family owners to sell majority 100 percent stakes in the companies they control in initial public offerings. He added: “The Ministry of Economy has written to the prime minister’s office and we are awaiting approval.”
At the seminar this Monday, Zaabi also announced that the ESCA wants the boards of listed companies to have a female representation of 20 percent.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!