SCA Appoints Al Awadhi as New CEO
Portfolio - People | Jan 16, 2025 | Zawya
The UAE's Securities and Commodities Authority (SCA) has appointed a new CEO, marking a significant leadership change within its regulatory framework. Waleed Saeed Abdul Salam Al Awadhi has been named as the new CEO by a decree from UAE President Sheikh Mohamed bin Zayed Al Nahyan. Prior to this role, Al Awadhi served as the Chief Operating Officer of the Dubai Financial Services Authority (DFSA) and as deputy head of retail banking at Emirates Islamic. He will also take on the rank of Undersecretary. This move comes after Dr. Maryam Al Suwaidi, the first female to hold the position, stepped down after three years. The SCA, established in 2000, is responsible for regulating the UAE's capital markets, specifically the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX), while financial zones like DFIC and ADGM are regulated separately.
Sectors
- Financial Services
- Capital Markets
Geography
- United Arab Emirates – The article focuses on the Securities and Commodities Authority, a financial regulatory body within the United Arab Emirates.
Industry
- Financial Services – The article pertains to the appointment of a new CEO for the UAE’s main financial regulator, the Securities and Commodities Authority, indicating its relevance to the financial services industry.
- Capital Markets – The SCA is responsible for overseeing and regulating the capital markets in the UAE, including the Dubai Financial Market and Abu Dhabi Securities Exchange.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Securities and Commodities Authority (SCA) | Regulatory Authority | Government | Federal financial regulation agency responsible for the UAE's capital markets. |
| Waleed Saeed Abdul Salam Al Awadhi | New CEO of SCA | People | Appointed as the new CEO of the UAE’s financial regulator. |
| Dr. Maryam Al Suwaidi | Former CEO of SCA | People | The first woman to hold the CEO position at SCA, recently stepped down. |
| Dubai Financial Services Authority (DFSA) | Former Employer of Waleed Al Awadhi | Government | Regulatory authority responsible for the financial services industry within the DIFC free zone. |
| Sheikh Mohamed bin Zayed Al Nahyan | UAE President | Government | Issued the decree for the new appointment of the CEO. |