107 asset and fund managers operating in ADGM, currently managing 137 funds
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This agreement is intended to foster greater cooperation in monitoring dangers of earthquakes in the emirate.
This will allow both parties to prepare maps of earthquake-prone areas for the emirate and have the exact division of the seismic activities, using seismic and geological data for the region to reflect the geographical distribution of the real seismic activity.
Abdullah Ahmed Al Mandoos, Director of the NCMS, said: “We aim to upgrade the geospatial information services and continue the required quality efforts to avoid seismic risks.”
Seven seismic stations in the country are in Umm Al Quwain, Al Ain, Shaam (Ras Al Khaimah), Masafi (Fujairah) and Ajban (Abu Dhabi). Earthquakes are common occurrences in the Makran fault, close to the borders of the Arabian Gulf region where earthquakes as large as magnitude of eight in the Richter scale could occur.
The centre wants to unify the services regarding seismic engineering to all sectors, in addition to exchanging data and information related to earthquake and seismic activities at the regional and international level, Al Mandoos said.
Taking into consideration the safety of the Abu Dhabi residents in particular and the country in general, the centre aims to keep pace with scientific development and research pertaining to seismic activities around the world and its solutions as well, he said.
Both parties will work on certain programmes to implement a project that could control and manage earthquake hazards in the emirate. This agreement will also monitor the available safety facilities in the emirate and develop a system where seismic engineers who will be working in fields can benefit from it and come out with ways, which can defend such disasters, he said.
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