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Dubai Financial Market (DFM) has held a meeting with a committee of judges from the Dubai Court of First Instance to discuss facilitating legal procedures among the DFM, brokerage firms and Dubai Courts.
The meeting was attended by representatives of brokerage firms, officials from DFM and judges from Dubai Courts.
Jamal Al Khadhar, Director, Research and Market Relations Department, DFM, said: “We are delighted to work with Dubai Courts to develop a comprehensive legal mechanism that ensures the quick and efficient execution of all procedures that involve the DFM, Dubai Courts and brokerage firms. The meeting reflects DFM’s vision to build partnerships on solid basis with brokerage firms and the Dubai Courts.”
He continued: “After the conclusion of these meetings, a specialised team from Dubai Courts will be assigned to present a comprehensive project that will contribute to expediting legal procedures, saving time and effort. In this regard, Memorandum of Understanding will be signed at a later stage between the Dubai Courts, DFM and brokerage firms,” he added.
Judge Abdul Rahman Al Awadi, Head of the Committee of Judges from Dubai Court, said: “We are delighted to work with DFM to enhance relations between the courts and brokerage firms. The main purpose of this meeting was to set a mechanism for unified procedures. This comes in line with the Dubai Court’s strategic vision to work with government departments and other concerned parties for the purpose of expediting the execution all rulings issued by the Dubai Courts.”
