Agreement aims at conducting statistical survey for national database
The Emirates Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the National Statistics Center (NSC) to boost cooperation between them in the areas of data collection, management and analysis, aimed at setting up and developing a nationwide national database of statistics.
H.E. Abdullah Al-Turifi, SCA Chief Executive Officer, signed the MoU for his side, while H.E. Rashid Khamis Al-Suwaidi, NSC Director General, also signed the agreement for his outfit during a ceremony attended by officials from both sides.
The signing of the agreement, which was in line with the directives of H.E. Sultan bin Saeed Al-Mansoori, Minister of Economy and SCA Board Chairman, is a fruit of the executive program for senior officials of associated authorities under the jurisdiction of Ministry of Economy. Participants in the program, which was held last May, include the SCA, the NSC, the Ministry of Economy, the Civil Aviation Authority and the UAE Insurance Authority.
Commenting after the latest development, Al-Turifi expressed happiness on the signing of the agreement which he said was very significant to both sides, adding that the two sides, by signing the agreement, seek to adopt effective means and tools to improve their method of collecting, managing and use of data by setting up a common ground for collating and sharing of information.
He pointed out that the SCA was deeply interested in establishing a national database according to the NSC’s style, arrangement and technical standards, in a way that will provide accurate and up-to-date information which will help in the drawing of policies and decision-making. He said, based on the MoU, the scope of cooperation between the two sides extends to cover the areas of studies, research and related surveys, sharing of information and expertise in the preparing of database, participation in conferences, forums, meetings, consultation and exchange of visits, as well as cooperation in the area of statistical training, adding that the SCA attaches great importance to statistics in view of its regular conducting of studies and financial analysis, which are based on digital data and statistics respectively.
He noted that the SCA also issues daily, weekly, monthly and annual market indices and reports and conducts market and investor-related researches.
Based on the MoU, the two sides shall cooperate in taking the appropriate steps to establish database related to the NSC database and according to the NSC’s style, arrangement and technical standards. They shall set up a joint committee to draw up the mechanisms for the successful implementation of the MoU, cooperate in designing the statistical forms that would be used in collecting information and statistics in this regard and shall coordinate efforts in conducting statistical surveys and in developing the means and methods of data collection and sharing of those information.
The signing of the agreement is within the framework of the SCA’s general strategy of building partnership with related local bodies with the aim of improving its performance and taking the SCA to greater heights among its peers from various parts of the world. The SCA has so far signed similar agreements with 12 local specialized bodies.
View News Headlines
