Dubai Financial Market, DFM, today announced that it has won the ‘Excellence Award’ from the European Foundation for Quality Management, EFQM.
The award – a first of its kind amongst regional exchanges – underpins DFM’s journey of business excellence and quality throughout its history.
The DFM won the five-star “Recognised for Excellence” award from the first application following comprehensive assessment of DFM’s procedures and services through more than 20 meetings over three days between EFQM’s assessors and DFM’s divisions. The assessment process has concluded that DFM maintains an excellent business environment for its operations, procedures and services provided to market participants, that take into consideration the importance of embracing flexible business methodologies, in line with the diversity of its stakeholders.
Regarding the recognition, Essa Kazim, Chairman of DFM, said, “I’m delighted to announce DFM’s winning this prominent award from the first application, which clearly indicates that business excellence and quality are a deeply rooted culture within our market. Since its inception in 2000, the DFM has been embracing excellence practices, in line with Dubai’s status as a centre of excellence in the region and beyond.”
“Snatching the excellence award also underlines DFM’s ability to build its corporate culture, in line with market participants’ requirements, strategic objectives of Dubai and the UAE, as well as the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on innovation and smart services. This has enabled us to develop a world class regional marketplace that provides participants with cutting-edge services for trading, clearing and settlement of securities,” he added.
Taking note of the award, Russell Longmuir, CEO of EFQM said, “We would like to congratulate the DFM for achieving the Five Star Recognition within the EFQM Recognition Scheme that is granted to high performing organisations, and where change is managed effectively and the culture of improvement is a norm to achieve the strategic goals of the organisation, while focusing on stakeholders’ needs. Conducted by independent assessors we have trained from member organisations, the assessment aimed at identifying good practices that we share to drive creativity and innovation within the Global Excellence Community.”