| It is learned that Emirates Security Market or | | | | discrepancies. The analytical studies of companies |
| shortly called ESCA have decided to allow foreign | | | | will help investors know the real value of shares |
| Financial firms licenses to act as consultants and | | | | to make correct decision to buy or sell. |
| analysts to operate in UAE. This is a positive step | | | | The new regulations will be effective within four |
| to protect the Financial Markets here & lure | | | | months time frame allowing all parties to |
| foreign funds. It means the bourse is expected to | | | | coordinate with the central bank, stock markets |
| perform well in 2008-2009. | | | | and the brokers. The Companies providing |
| However, Esca stressed that the new licensed | | | | forecasts and analysis must be owned 51% by |
| companies will refrain from activities that may | | | | UAE national with a minimum paid up capital of |
| harm the markets or the dealers. Companies | | | | Dh1 million. This new legislation is expected to |
| would be banned if and when exporting offerings | | | | fortify the framework of UAE stock markets. |
| or issuing financial consultancies relevant to certain | | | | The licenses for companies and individuals are |
| commodities and securities that would conflict with | | | | renewable and have a duration of one year that |
| or contradicts the consultancy service given | | | | would terminate by the end of December of each |
| This decision will ensure a healthy environment to | | | | year.It expected that new law will boost the |
| issue highly credible and transparent studies, | | | | performance of the markets by and large. |
| especially after the increase in reports with some | | | | |