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Dubai Financial Market “PJSC” announced today the official launch of a newly formed investor relations department in a major step forward to enhance relationships with investors and to reinforce transparency and corporate governance. The department will enable the investors to communicate effectively with the management and stay updated of the latest developments.
The establishment of the IR department is the latest addition to DFM, as the company’s board of directors adopted a new organizational structure in November 2008, when the department commenced its services. Although the investor relations practice in the Middle East is a relatively new concept, DFM’s IR department is consisted of a highly qualified team with international experience. The new department is run by Miss Rasha El-Hassan Chamut, a dynamic IR practitioner who brings a vast amount of work experience having worked with blue chip international companies in the city district of London.
The new department initiated its activities through working on a number of important projects which will have a positive and direct effect on DFM’s relationship with shareholders such as the development of an enhanced IR page on DFM’s website in cooperation with Thomson Reuters. The pages which will be launched soon, will provide shareholders with the most updated information about the company’s performance , financial results, main indicators, and contact details all of which will help investors have better understanding of the company and make decisions under the highest level of transparency.
The new department communicates on daily basis with investors and international institutions, answering their queries, and cooperates with financial analysts and researchers from several national and international investment banks and financial services companies. The key objective of IR is to keep the capital market audience informed of the developments that influence the company as fulfilling the requisite corporate governance standards and reporting requirements remains a significant task and responsibility.
Commenting on this new development, Essa Kazim, Executive Chairman, DFM “PJSC” said :" since its inception, DFM has been behind many initiatives that played a major role in developing the financial market in the UAE and the region. Therefore, the establishment of the new IR department is just another initiative to cope with investor’s expectations and provide them with the most updated information about the company that enables them to take decisions accordingly. Undoubtedly, taking IR practices a step forward in the public joint stock companies will reinforce the transparency in the market, and We are confident that DFM’s initiative, complimented with similar ones from leading companies, will set the model to other public joint stock companies in this domain”.
Fahima Al Bastaki, senior vice president, Market Development Division Director, Dubai Financial Market said:” IR is related to a series of activities that enable IR departments to communicate with current and potential investors. Undoubtedly, the escalating interest to establish IR departments is gaining more importance as foreign institutions are shifting their attention to regional emerging markets during the last 2 years. Consequently, implementing IR best practice amongst companies is essential to maintain and attract investors in general, and institutions in particular, who are accustomed to the highest levels of disclosure, transparency and corporate communications in the international markets.
It is noteworthy that DFM “PJSC” has formed a partnership with Middle East Investor Relations Society, the first IR official body in the region, through the signing of a MOU recently that outlines areas of cooperation, making DFM the first regional exchange to associate with the society.
