The Authority shall have a Chief Executive Officer with the rank of an Undersecretary, whose appointment shall be made by a Federal Decree upon the recommendation of the Board. The CEO shall undertake the following duties: 1. Proposing the policies, strategies, plans, and programs of the Authority and submitting them to the Board, and supervising their implementation after approval. 2. Proposing draft laws and decisions related to the implementation of this Decree by Law and the Relevant Legislation to enable the Authority to perform its duties, and submitting the same to the Board for taking the necessary action in respect thereof. 3. Proposing the organizational structure of the Authority and submitting the same to the Board for taking the necessary actions in respect thereof. 4. Proposing the plans, projects, initiatives, and programs, submitting them to the Board for adoption, monitoring the implementation of those adopted, and submitting reports in respect thereof. 5. Supervising the organizational units under their authority, enabling them, monitoring their achievements and performance, and proposing the necessary systems and procedures to contribute to improving and developing performance. 6. Monitoring the implementation of decisions issued by the Board or by any of its committees. 7. Issuing the licenses, approvals, registrations, and accreditations necessary for the conduct and supervision of the Capital Market. 8. Issuing the circulars and guidance regulations related to the Authority’s mandate in implementation of the Board’s decisions. 9. Supervising the preparation of the Authority’s draft annual budget and final account, submitting both to the Board for approval, and monitoring the implementation of the budget within the allocated appropriations. 10. Representing the Authority before the judiciary and in its relations with third parties. 11. Signing contracts, approving tenders and auctions, and taking other necessary actions for the conduct of the Authority’s business in accordance with the legislation in force. 12. Concluding treaties, agreements, and memoranda of understanding, and taking the necessary actions in implementation of the Authority’s mandate, upon the Board’s approval and in coordination with the Ministry of Foreign Affairs or concerned authorities, as the case may be. 13. Cooperating and coordinating with Relevant Authorities and specialized regulatory authorities inside and outside the State in areas pertaining to the Authority’s mandate, in coordination with the Ministry of Foreign Affairs or the concerned authorities, as the case may be. 14. Forming committees and operational working teams to enable the Authority to execute its mandate, determining their tasks, rules of procedure, and obtaining the Board’s approval when deciding to grant any remuneration thereto pursuant to the system issued under Article (11) of this Decree by Law. 15. Making appropriate decisions regarding notifications related to this Decree by Law and the Relevant Legislation. 16. Submitting periodic reports, to the Board, on the Authority’s workflow, achievements, and performance. 17. Performing any other duties or exercising any powers conferred thereupon pursuant to the law or regulations, or delegated or entrusted thereto by the Board or the Chairman of the Board. The Chief Executive Officer (CEO) may delegate certain of their tasks or any of the powers vested therein to any suitable employee of the Authority’s Executive Management, provided that such delegation is made in writing and specifies the tasks or powers so delegated and the duration thereof.
Interpretation and application must be checked against the official text and current version.