The Securities and Commodities Authority (SCA) has issued a clarification regarding the resumption of trading and regular working hours following the Eid Al Fitr holiday on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM).
According to the announcement made on Thursday, the Eid Al Fitr holiday will commence on Monday, which corresponds to Ramadan 29 or April 8, and will continue until the 3rd of Shawwal 1445 AH.
In line with this, the SCA has outlined the schedule for the resumption of activities in the markets. If Eid al-Fitr falls on Tuesday, April 9, trading and regular working hours will resume on Friday, April 12. Conversely, if Eid falls on Wednesday, April 10, operations will resume on Monday, April 15. This clarity provided by the SCA ensures that stakeholders are informed well in advance about the timeline for returning to normal market activities.
However, it's important to note that while the ADX and DFM observe the holiday, the Dubai Gold and Commodities Exchange and Dubai Commodities Clearing Corporation will continue to operate as usual during this period. The SCA has emphasized that trading hours for these entities will remain unaffected despite the holiday.
The decision to align the holiday dates with those recently announced by the Federal Authority for Government Human Resources demonstrates a coordinated effort between the SCA, financial markets, and relevant authorities. This alignment ensures consistency across various sectors and facilitates smoother operations during the holiday period.
The SCA's announcement provides stakeholders in the financial markets with clear guidance on the schedule for the Eid al-Fitr holiday and the subsequent resumption of trading and regular working hours. This proactive approach promotes transparency and helps mitigate any potential disruptions to market activities, contributing to the overall efficiency and stability of the financial sector.
