DFM Management Team

Biography:

Having extensive experience of capital markets development and digital transformation spanning over 20 years, he was previously the Chief Operating Officer, Executive Vice Present and Head of Operations Division in DFM.

Mr. Al Serkal, was one of the five founding team members which established Dubai Financial Market in the year 2000. Shaping the market’s strategic development efforts led by the formation team to implement strategic initiatives which enhanced the growth and success of the Dubai Financial Market. In addition to establishing independent Clearing and Depository companies to keep pace with international best practices in organizational structures of exchange operators and post-trade services. Throughout the years, he has provided an invaluable drive, passion and input into making “The DFM Project” a successful reality.

Under his leadership, notable strategic achievements include developing a world-class technical and market infrastructure, product diversification including ETFs, REITs, Equity Futures and indices, expansion of services, advancing market supervision polices, and digital transformation strategies.

Prior, in 1993, Mr. Al Serkal played a key role in Dubai’s Department of Economic Development as Head of the Development and Maintenance Department of Information Technology, leading the smooth transition of application systems from the Dubai Municipality to the Department of Economic Development.

In his earlier career, as a Computer Analyst at Etisalat, one of the leading telecommunications providers in the United Arab Emirates, Mr. Al Serkal spearheaded a new service application processing system for subscribers and services combining multiple systems across Etisalat branches and remote offices in the UAE.

Mr. Al Serkal holds a Bachelor's degree in Computer Science from Seattle Pacific University, USA.

Division's main functions:

Biography:

In these roles, he develops and implements the expansion of existing markets and activities at both exchanges and is creating new areas of growth, building on the synergies between DFM and Nasdaq Dubai.

Under his leadership Nasdaq Dubai launched equity derivatives on UAE stocks in 2016 and on Saudi stocks in 2019.

Nasdaq Dubai has become one of the largest exchanges in the world for Sukuk listings. It is the largest exchange in the Middle East for US dollar-denominated bond listings, many of them from Chinese and other international issuers as well as GCC issuers. Under Mr. Ali’s direction Nasdaq Dubai has also pioneered the UAE’s listed REITs market. The exchange’s MarketSite event space, launched in 2018, has become a leading venue for thought leadership and media activity.

Mr. Hamed Ali was previously Executive Director of Nasdaq Dubai from 2006 to 2008. His experience includes serving as Chief Operating Officer of DIFC Authority and most recently as Executive Director at the Dubai Knowledge & Human Development Authority.

Mr. Hamed Ali played a key role in the development of the Dubai Strategic Plan 2015 and participated in various strategy development exercises. He holds an Executive MBA from London Business School, a B.Sc. in Applied Computing from Leeds Metropolitan University, and a Master Certificate in Project Management.

Division's main functions:

Biography:

His career with DFM is role model in this field, as he joined the market before 2002 as a scholarship student assigned from the HCT Higher Colleges of Technology and has contributed in several educational and awareness initiatives concerning financial markets, and hold several leadership roles, including the position of Vice President & Deputy Head of Operations Division in DFM during the period 2011 - 2020.

Mr. Khalifa Rabba has over than 18 years of experience in the financial markets, and he has major roles involved in developing the trading cycle, enhancing investor & brokers relations with the market, and develop the governance of listed companies. He also contributed in developing the legislation of several trading products and financial services, and he had a major role in the market’s development and growing during its early stages towards raising revenues post the event of being a public joint stock company.

Mr. Khalifa Rabba holds a Bachelor's degree in Business Administration from the Higher Colleges of Technology – HCT (UAE) and a Master degree in Financial and Banking Business Administration from the University of Wollongong in Australia. He also received the "Feigenbaum Leadership Excellence Award" from Sheikh/ Hamdan bin Mohammed E-University.

He is currently the Chief Operating Officer (COO) and Head of Operations Division in Dubai Financial Market (DFM). He leads the market operations division, which includes vital departments such as market operations, listing & disclosure, and information security.

Division's main functions:

Operations Division embraces of three main departments; Information Security, Market Operations, and Listing & Disclosure. Together these ensure the smooth running and accelerated work-flow of the market operations in a regular and efficient manner, through the adoption of latest technologies and the implementation of industry’s best practices. The functions include the following:

• Develop operational plans and implement advanced policies to oversee operations with developing business continuity & information security strategies.
• Increase the flexibility of trading and stock exchange business by adopting latest technologies & systems, and automating procedures.
• Improving the stock exchange’s operational competencies and efficiencies by adopting advanced technologies.
• Reducing operational risks through business continuity planning and applying information security controls.
• Facilitating the decision-making process by providing the option for analyzing current and historical data.
• Reducing trading risks by setting policies, controls and procedures to monitor the broker's business and listed companies’ disclosures.
• Providing fair treatment to investors and trading partners through business rules governed set within systematic and controlled administrative procedures.
• Monitor the trading and ensure that all market members adhere to all laws and regulations by market and the Securities & Commodities Authority (SCA).
• Licensing market members as of brokerage firms in liaise with the Securities & Commodities Authority (SCA).
• Listing local and foreign stocks, bonds, and other products for trading in coordination with Securities & Commodities Authority (SCA).
• Setting controls and standards for trading, licensing, disclosure and listing systems, and for other new products.
• Developing and operating new trading products on the market.

Biography:

In 1993 he moved to the Department of Economic Development (DED) where he was appointed Head of Treasury and was soon after promoted to the position of Head of Administration Affairs. 

During his tenure with the DED, Mr Aljaziri headed various economic committees including the Purchasing, HR, and Annual Inventory Committee. He also played a major role in the management of financial activities related to the Dubai Shopping Festival.

Mr. Al Jaziri holds a Bachelor's degree in Accounting and Information Systems from the Emirates University.

In 1998 he was requested to join in the formation and establishment of the Dubai Financial Market (DFM) project; and is one of the five main pillars and original founders of the market. He was the Head of Finance and Administration Affairs Department, where he meticulously went about setting all the essential policies and procedures to be adopted within the DFM.

Mr. Al Jaziri is currently the Senior Vice President and Head of Corporate Services, sharing his lifelong expertise and knowledge for the continuous improvement and growth of the DFM.

Division's main functions:

The Corporate Services Division is made up of three core departments; Finance, Legal, and Purchasing and Contracting. Together they provide the necessary and essential support required by the Dubai Financial Market to ensure that all operations are running as efficiently as possible. The key functions of this division include:

• Preparing and developing comprehensive and strategic financial budget alignments with the strategic operational budget and all DFM sector plans; providing all relevant financial information that comply with the IAS, IFRS, regulations, laws and best practices to aid management in the decision making process
• Developing financial systems and implementing best practices in internal control and efficiently managing cash flow, liquidity and gap analysis that satisfy all internal and external customer needs
• Providing and securing all the necessary requirements for DFM materials and services in terms of quality, cost and delivery time; as well as continuously growing the supplier database and preparing all necessary contracts and agreement documents in accordance with standard rules and regulations
• Providing DFM units with legal consultation and ensuring that all contracts, memorandums and legal documents are in accordance with the law and satisfy DFM policies and standards before approval

Biography:

Mr. Jamal is one of the five key founders and leaders of the DFM.

He established and managed the marketing department in the DFM between 2000 – 2008 when he was later charged with handling the Statistics and Research Department; in addition to the Product Development Department in the market.

Mr. Jamal holds a Master's degree in Total Quality Management from the University of Wollongong in Dubai, and a Higher Diploma in Information Technology from the Higher Colleges of Technology in the UAE.

He also served as an assessor for the Dubai Quality Awards in 2001.

Mr. Jamal is currently the Senior Vice President and Head of the HR and Strategic Planning Division in DFM and is constantly focused upon ensuring best practices and adopting standards of excellence within DFM.

Division's main functions:

The Human Resources and Strategic Planning Division key functions include:

• Talent Management & Manpower planning
• Recruitment & Selection
• Training & Development
• Employee Relations
• Compensation & Benefits
• Strategic Planning
• Enabling Excellence

Biography:

Mrs. Al Bastaki carries a wealth of experience within the financial sector and capital markets in particular. She started her career at HSBC Middle East in 1998 and then in 2004 joined Dubai Financial Market (DFM) to head the Listing and Disclosures Department where she spearheaded a number of successful initiatives attracting companies to list on the DFM managing over 80% of total listings to date. By 2009 she became the Business Development Division Head as an expansion to her role. Mrs. Al Bastaki is one of the top Executive management team at DFM and plays a key role in the development of the DFM as a Public Listed Company and an Exchange championing best practices in Investor Relations, while working collaboratively with the regulator. Mrs. Al Bastaki initiated and continues to lead the organization of the DFM International Investor Conferences in London and New York since 2007. Notably, Mrs. Al Bastaki also developed the IPO strategy for DFM in 2009 including a study and a regular private IPO Forum, which has become a flagship event for Decision Makers.

Mrs. Al Bastaki holds a Bachelor's degree in Applied Science of Business Administration. She is a Certified Financial Advisor (CIFA) from the Chartered Institute of Bankers (UK) since 2000, and holds a CFA Claritas certification for capital markets. Mrs. Al Bastaki is a Certified Investor Relations Officer as well as an Accredited Director with the Hawkamah Institute of Corporate Governance. Mrs. Fahima is a graduate of the Women on Board Program by Hawkamah in partnership with the Dubai Women Establishment.

Mrs. Fahima had the privilege of being a Senior Quality Assessor in Dubai Quality Award in 2006 & 2007. Moreover, and as part of her role in DFM, she was a Committee Member of the Officials & Directors of GCC Stock Markets and Authorities under the GCC Secretariat General in 2009 and the chairperson of the Middle East Investor Relations Society (ME IR) Dubai Chapter for 3 years.

Division's main functions:

The Business Development division focuses on four key areas; Issuers Affairs, Public Relations, Corporate Communications and Investor Relations. Some of their collective core functions include:

• Building and maintaining corporate relations with existing issuers and supporting them in their IR activities
• Attracting and providing guidance to potential companies looking to go public
• Initiating new projects that support the development of the DFM and NASDAQ Dubai IPO pipeline.
• Developing smart issuer services and providing strategic support necessary to raise awareness among the issuers' key stakeholders
• Communicating with Financial Media through the provision of official statements and press releases
• Interacting with external delegates, government parties and institutions relevant to the DFM and coordinating the needful communication and media conferences
• Managing current DFM investor relations functions and ensuring best practices in IR are applied to support investor and analyst communications
• Creating and executing strategic marketing and communication campaigns and bridging the gap between the DFM and investors, government entities, listed companies and other market participants
• Planning and execution of all corporate events, internal and external seminars, and educational investor and issuer activities
• Increasing awareness of the DFM brand through consistent communication on various media platforms and event participation
• Maintaining open digital communication channels including the management of the DFM website and related social media platforms to ensure that the public is informed and updated on all the latest market happenings

Biography:

At the end of 2000, he moved to the Abu Dhabi Islamic Bank (P.J.S.C) as Head of Islamic Finance Operations and Capital Markets Services where he remained for the next six years.

In 2006 he was appointed Chief Operating Officer at Dubai Bank (P.J.S.C), before finally joining the Dubai Financial Market (DFM) in 2009.

Mr. Al Hashimi holds a Master of Business Administration and a B.Sc. in Business Management, Economics and Business Administration from the University of Baghdad.

He is currently the Executive Vice President, heading the Financial Services Division, executing wide strategic projects including two major developments, the migration of new core banking systems and integration with sub systems. Moreover, he was successful in introducing new products to the capital market with the support of VISA International and other major vendors, establishing a full-fledged Registrar department and commercializing Market Data. He also played a vital role in setting the current business model and in the acquisition of Nasdaq Dubai by the DFM.

Furthermore, Mr. Al Hashimi’s significant contribution in the IPO & Registrar industry has ranked him a pioneer in the establishment of this business trend on a corporate standard level.

Division's main functions:

The Financial Services Division provides pioneering services through its two core departments; Market Data Services and Corporate Action Services. The departments work to meet the growing demand of market participants. The division’s main functions include:

• Offering direct access to the most accurate and timely information available through providing several types of feeds with varying levels
• Preparing and planning AGM / EGM meetings including the setup of the voting / e-voting process; and providing a range of cost efficient services designed to fulfill the meeting requirements using state-of-the-art technology and the most advanced applications in the market
• Calculating, distributing and reconciling dividend and payments on behalf of DFM clients through the utilization of robust systems and efficient processes which are cost efficient and ensure accuracy
• Providing a high standard electronic IPO / RI Management and payment processing solution, strategically positioned to become an invaluable eServices framework for Lead Managers and Receiving Banks