Dubai: The Dubai Financial Market (DFM) said it signed a Memorandum of Understanding (MoU) with Dubai Courts to further reinforce cooperation between both sides as well as streamline joint measures in terms of actions taken by Dubai Courts with regards to DFM participants.
Under this MoU, Dubai Courts will be directly connected with the DFM’s electronic services platform, which will be the official channel for applications related to any judicial actions relevant to market participants, the DFM said in an emailed statement.
The MoU paves the way for further cooperation and knowledge sharing between the two sides and provides a clear framework for the implementation of Dubai court rulings related to court restriction, court release and court sell orders, as well as the distribution of cash dividends for investors whose shares are seized by the court.
According to the statement, this move indicates the belief shared by both the DFM and Dubai Courts on the importance of coordination and cooperation in further reinforcing the efficiency of their activities.
