Dubai Multi Commodities Centre (DMCC) today announced the appointment of Hassan Nasser as Financial Compliance Director. In this role, Mr. Nasser will monitor the processes of approval and oversight of companies across the world applying for and registered and licenced by DMCC, ensuring strict adherence to national and internal laws and regulations and international standards.
A compliance expert, a Certified Compliance Officer (CCO) and a Certified Anti-Money Laundering Specialist (CAMS), Nasser will ensure that all DMCC entities comply with regulations issued by the UAE Central Bank, Emirates Securities and Commodities Authority (ESCA) and other relevant regulatory authorities.
“DMCC has witnessed significant growth and expanded into several new commodity sectors in recent years, resulting in our business becoming increasingly complex and multi-faceted,” said Dr. David Rutledge, Chief Executive Officer, DMCC. “Hassan Nasser’s appointment to the DMCC management team comes at a key moment in our organic growth, and further demonstrates our commitment to adhering to the highest regulatory standards across all of our businesses.”
Prior to joining DMCC, Nasser worked in various positions at the Arab International Bank in Egypt, rising to become Senior Compliance Officer, a position he held for the past four years. He established a compliance unit at the bank, including anti-money laundering policies, procedures and controls. At Arab International Bank, Nasser was also the head of the Basel II steering committee responsible for the necessary restructuring of the bank in order to comply with those landmark international risk-management requirements. In addition, he is well known as a lecturer on banking topics.
“I am delighted by the opportunity to put my skills to work at one of the region’s fastest-moving organizations, headquartered in one of the world’s fastest-moving cities,” Nasser said. “In terms of financial compliance, DMCC is setting a new benchmark for the Middle East. I look forward to contributing to the ongoing efforts to ensure that we continue to adhere to the highest possible standards.”
At DMCC, Nasser will also be responsible for the identification, measurement and assessment of compliance risk associated with DMCC business activities. As well, he will monitor, assess and when appropriate, upgrade compliance procedures currently in place.
Editor’s Note
DMCC was created in 2002 as a strategic initiative of the Dubai Government to establish a commodity marketplace in Dubai. Rated 'A' by Standard & Poor's, it provides the market infrastructure that brings together a wide range of commodities activities, and is committed to serve the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.
