The Securities and Commodities Authority (SCA) announced the opening of World Investor Week, as part of its efforts to build on the initiatives and programmes that aim to promote financial literacy among members of the community and raise awareness about the rights of investors.
Dr. Maryam Buti Al Suwaidi, SCA’s CEO, said that the SCA had been keen to implement the UAE’s vision to pursue policies that help sustain high economic growth rates and consolidate the UAE’s position as an international partner and an attractive and prominent economic hub. It provided all forms of support to enhance investor protection and make the securities sector highly competitive at the regional and international levels.
‘World Investor Week is an initiative that seeks to promote sound practices, provide protection against unlawful competition, and improve financial literacy, thereby supporting the UAE’s overall development and promoting the SCA’s role in putting forward solutions and implementing initiatives and programs that
aim to protect investors and equip them with the knowledge and skills needed to help them make informed investment decisions,’ she explained.
Al Suwaidi indicated that the events and activities on the World Investor Week’s agenda this year deal with important topics, most notably investment risk, good financial planning, sustainable finance, financial fraud and scams, and crypto assets, all of which are important investment-related matters that help investors take a sound investment approach that ensures sound investment practices.
World Investor Week disseminates key awareness messages that highlight the importance of financial planning for a stable financial life, the concept of sustainable finance and ESG investing, and the importance of reviewing disclosure documents and making sure that the investment’s stated approach to sustainable finance matches investor goals. Awareness messages will also be posted on social media platforms on a daily basis, and an awareness workshop for university students about
the safest ways to invest will be organised.
The events organised as part of this week will also deal with financial fraud and scams and what smart investors can do to prevent them, such as making sure that brokers are properly licensed, researching investment opportunities independently, avoiding get-rich-quick schemes, never disclosing personal information, verifying sources of investment information found on the Internet, understanding crypto assets and their associated risks, recognising the warning signs of investment fraud, and never investing based on celebrity endorsements.
World Investor Week is an international one-week initiative organised by the International Organization of Securities Commissions (IOSCO). Its goal is to promote financial literacy among investors and protect investor rights at the local and international levels by bolstering the efforts made by supervisory authorities in overseeing the securities sector.
The SCA has been an IOSCO full member since 2003. IOSCO is the global stan
dard-setter for securities regulation. Its members include securities supervisory authorities, the World Bank, the International Monetary Fund, and financial markets and monetary institutions. It has over 200 members, of which 129 are securities regulators. Its membership regulates over 95 percent of the world’s securities markets.
Source: Emirates News Agency (WAM)