UAE Cybersecurity Council And SCA Join Forces To Enhance Capital Markets Security

The UAE Cybersecurity Council and the Securities and Commodities Authority (SCA) have joined forces to enhance cybersecurity in the capital markets sector. This collaboration aims to develop regulatory frameworks and security standards that ensure digital transaction integrity, bolster investor confidence, and attract global digital asset companies. These efforts align with the "We the UAE 2031" vision, supporting the UAE's digital economy and its role as a regional hub for financial technologies.

This partnership is part of a broader national effort to unify cybersecurity frameworks within the capital markets sector. It ensures compliance with regulatory and security standards, reflecting the UAE's commitment to innovation and leadership in cybersecurity. The financial sector aims to provide a secure environment that supports sustainable growth by adapting to new business models and integrating advanced digital solutions.

Waleed Saeed Al Awadhi, CEO of SCA, highlighted that this partnership reflects SCA’s dedication to a secure digital transformation. It strengthens cybersecurity across capital markets, aligning with national leadership directives to position SCA among leading global regulatory bodies. This initiative is part of ongoing efforts to develop frameworks ensuring safe digital transactions and enhancing investor trust.

The cyber threat landscape targeting the financial sector has evolved significantly amid digital transformation. Advanced Persistent Threat (APT) groups have increased attack frequency and sophistication, using complex tools and techniques for various objectives. Financial institutions must proactively strengthen monitoring and threat detection capabilities to keep pace with evolving threats and maintain readiness against dynamic cyberattacks.

Dr. Mohamed Al Kuwaiti, Head of Cybersecurity for the UAE Government, stated, "This strategic partnership between the Cybersecurity Council and the Securities and Commodities Authority is part of our continuous national effort to enhance cybersecurity across all levels of the financial sector. It aims to ensure secure, efficient financial transactions, protect sensitive data and digital assets, and significantly contribute to building a resilient digital economy."

Ensuring Secure Digital Transactions

This strategic cooperation underscores national entities' commitment to securing all digital transactions for investors. It shapes the future of digital finance by promoting financial inclusion. The initiative marks a milestone in enabling companies to operate securely against escalating cyber threats while safeguarding investments and strengthening capabilities against cyber fraud targeting corporate assets.

The partnership also focuses on attracting virtual asset service providers, supporting the UAE’s position as a regional hub for financial technologies. This transformation is crucial amid rapid digital economic growth and sophisticated cyber threats. By fostering trust in every transaction, it offers more secure financial experiences.

This collaboration aims at ensuring secure financial transactions while protecting sensitive data and assets. Strengthening investor confidence in the UAE’s financial ecosystem is a core objective, particularly in capital markets where trust in transaction security is paramount.

The initiative aligns with efforts to develop technical standards addressing growing cyber risks while enhancing investor confidence. These efforts aim at positioning SCA as a benchmark for regulatory authorities in international markets.

With inputs from WAM