Al Awadhi Steps Up as SCA Head Following Al Suwaidi's Departure
Portfolio - People | Jan 16, 2025 | Zawya
Following the resignation of Dr. Maryam Al Suwaidi, a landmark figure as the first woman head of the UAE's main financial regulator, the Securities and Commodities Authority (SCA), Waleed Saeed Abdul Salam Al Awadhi has been appointed as the new CEO. This decision was formalized through a decree issued by UAE President Sheikh Mohamed bin Zayed Al Nahyan. Al Awadhi, who until now served as the COO of Dubai Financial Services Authority, brings a wealth of experience from his previous roles, including as deputy head of retail banking at Emirates Islamic. As the SCA's new leader, Al Awadhi will hold the rank of Undersecretary and assume responsibility for regulating the UAE's capital markets, including the Dubai Financial Market and Abu Dhabi Securities Exchange, while excluding free zone entities like Dubai International Financial Centre. His appointment marks a significant organizational change at the SCA, which was established in 2000 to oversee the country's stock markets.
Sectors
- Financial Regulation
- Capital Markets
- Government
Geography
- United Arab Emirates – The entire article revolves around the leadership change in the UAE's Securities and Commodities Authority and its implications on the country's financial regulatory landscape.
Industry
- Financial Regulation – The article discusses a change in leadership at the Securities and Commodities Authority, which is a regulatory body governing financial markets in the UAE.
- Capital Markets – The SCA oversees the UAE's capital markets, including Dubai Financial Market and Abu Dhabi Securities Exchange.
- Government – The appointment of the new CEO was made by a decree from the President of the UAE, indicating the involvement of governmental authority in the decision-making process.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Waleed Saeed Abdul Salam Al Awadhi | CEO of SCA | Person | Newly appointed CEO of the Securities and Commodities Authority. |
| Dr. Maryam Al Suwaidi | Former CEO of SCA | Person | The first woman to serve as CEO of the Securities and Commodities Authority, who recently stepped down. |
| Securities and Commodities Authority (SCA) | Regulatory Body | Government | The main financial regulator for the UAE's capital markets. |
| Dubai Financial Services Authority (DFSA) | Previous Employer of Al Awadhi | Government | The regulatory authority for the Dubai International Financial Centre. |
| Emirates Islamic | Al Awadhi's Past Role | Company | A bank where Al Awadhi served as deputy head of retail banking. |
| Sheikh Mohamed bin Zayed Al Nahyan | President of the UAE | Government | Issued the decree appointing Al Awadhi as the new CEO of SCA. |