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The Dubai Financial Market (DFM) has announced margin parameters for futures contracts effective from December 9, 2024. The document lists various underlying symbols with their respective base margin percentages, currencies, and base margin per contract, as well as spread margin per contract. For example, AIRARABIA has a base margin of 6% and a spread margin of 4 AED per contract, while SHUAA has a base margin of 18% and a spread margin of 1 AED per contract. The methodology for margin calculation and types of eligible margin are detailed in the Derivatives Clearing Guidelines and Procedures, accessible via a provided link. The announcement can also be found on the DFM website. A disclaimer notes that the information is subject to change and advises consulting the Dubai Financial Market Regulated Derivative Contract Trading Regulation in case of inconsistencies.
On December 5, 2024, the Board of Directors of the National Central Cooling Company PJSC, also known as Tabreed, held a meeting to discuss the company's business and operational matters. This meeting was conducted in accordance with the amended Disclosure and Transparency Regulations. The notification is addressed to Dr. Maryam Butti Al Suwaidi, CEO of the Securities & Commodities Authority, and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market. The communication is signed by Sean Magee, the Board Secretary.
On December 5, 2024, Takaful Emarat Insurance PSC announced the resignation of Saqr Kamal from its Board of Directors. Kamal, an independent and non-executive member, resigned for personal reasons. The resignation was accepted and became effective on November 22, 2024. The announcement was authorized by Adnan Saba Elaish, the Finance Director, and was documented with the company's seal.
Emirates NBD Bank PJSC has announced the extension of the nomination period for its Board of Directors to December 10, 2024. Shareholders who meet the eligibility criteria can apply for board membership via email, specifying their desired role as Non-Executive or Independent Director. Nine board members are to be elected, and nominations are open for ten days following the announcement, per governance guidelines. Applicants must adhere to specific corporate governance and regulatory standards, and nominations cannot be transferred to others. All applications are subject to evaluation and Central Bank approval. The bank will disclose nominee details on its website two days before the Annual General Assembly Meeting. Required documents, including identification, must be submitted with the application, or it will be considered void.
Emirates Islamic Bank PJSC has announced an extension for nominations to its Board of Directors until December 10, 2024. Shareholders who meet the nomination criteria can apply by emailing BODElection@EmiratesNBD.com, including their profile, required documents, and the type of membership they seek (Non-Executive or Independent Director). Seven board members will be elected, and nominations are open for ten days from the announcement date, per Article 9 of the governance guidelines. Applications submitted after the deadline will not be accepted. Candidates must comply with various regulations and standards, and once submitted, nominations cannot be transferred to another person. All nominations are subject to evaluation and approval by the Central Bank of the UAE. The Bank will publish nominees' details on its website two days before the Annual General Assembly Meeting. Required documents must be submitted within the nomination period, or the application will be void.
Sukoon Insurance PJSC has scheduled a Board of Directors meeting on Tuesday, December 10, 2024, at 10:00 am. The meeting will take place at the company's head office in Deira, Dubai, and via 'Teams' video conferencing. The agenda includes reviewing and approving the Nomination and Remuneration Committee Charter, initiating the nomination process for electing new board members after the 2025 AGM, and a general review of the company's business. The notification is addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and a copy is sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority.