His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and Chairman of the Dubai Securities and Trade Greater Committee, chaired a gathering of the Committee to evaluation its important accomplishments in 2024 and strategic priorities aimed toward reinforcing Dubai’s place as a dynamic capital market and world monetary centre.
Dynamic monetary ecosystem
HH Sheikh Maktoum bin Mohammed stated: “We stay steadfast in our efforts to understand the imaginative and prescient of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to ascertain Dubai because the epicentre of world finance and safe its place among the many world’s high 4 monetary hubs, in alignment with the Dubai Financial Agenda D33.”
His Highness counseled the Committee’s sustained efforts to implement progressive approaches to maintain tempo with the most recent developments and meet the wants of native and worldwide buyers.
Sheikh Maktoum stated: “Dubai’s sustained achievements within the capital markets sector stand as testomony to its place as a frontrunner in monetary innovation and world funding. These milestones replicate the management’s unwavering dedication to fostering progress and making a dynamic monetary ecosystem that provides numerous alternatives and boosts investor confidence, whereas driving sustainable financial progress.”
IPO successes
His Highness reviewed the accomplishments of the Dubai Monetary Market (DFM), highlighting three important IPOs this 12 months, together with Parkin, Spinneys and Talabat, the UAE’s largest personal sector IPO. These achievements underscore Dubai’s enchantment as a premier marketplace for public listings. Because the institution of the Greater Committee, the DFM has hosted a complete of 10 listings, elevating over AED43 billion and producing demand exceeding AED1.2 trillion.
Robust market index efficiency
For the second consecutive 12 months, the DFM Common Index outperformed all regional indices, growing by 19%, reflecting the market’s sustained progress trajectory. DFM’s market capitalisation grew by over 100% from AED394 billion in 2022 to AED801 billion early December 2024.
Worldwide buyers accounted for 47% of DFM’s buying and selling exercise, with the market attracting over 132,000 new buyers in 2024, 85% of them overseas buyers. Notably, 35% of latest worldwide buyers got here from the Asia Pacific area.
International management in Sukuk listings
Nasdaq Dubai emerged because the main world venue for Sukuk listings by way of worth, and first regionally in debt instrument listings, with 51 listings of sukuk and bonds, and a complete worth of AED360 billion in listed sukuk, whereas the combination worth of mounted earnings securities stood at AED528 billion. About 45% of issuers hailed from exterior the UAE, together with sovereign issuance from China, Hong Kong, Indonesia, Turkey, the Philippines, and the Maldives.
Developments in digital belongings
In the course of the assembly, HH Sheikh Maktoum was additionally briefed on the continuing efforts of the Digital Property Regulatory Authority (VARA) to solidify Dubai’s management within the digital belongings sector. VARA continues to focus its efforts on enhancing its infrastructure and increasing the attain and resilience of the digital asset ecosystem, whereas committing to providing a secure, progressive area for service suppliers and customers alike.
Since its inception, the Dubai Securities and Trade Greater Committee has performed a pivotal position in reinforcing Dubai’s place as a worldwide capital market and monetary hub. Its efforts align with the emirate’s broader financial imaginative and prescient to draw world investments, foster innovation, and allow sustainable progress throughout all sectors of the monetary ecosystem.
The Committee’s key accomplishments embody establishing the Monetary Markets Regulation Enforcement Committee, and the Digital Property Regulatory Authority, a specialised courtroom for the decision of securities-related disputes, other than laws and incentives to help native markets and listed corporations.
The Committee additionally launched a number of tasks together with the xCube market maker and xCube buying and selling app, inexperienced bonds and sukuk valued at $27 billion, a pilot for carbon credit score buying and selling and the IPO Accelerator programme.
Comply with Emirates 24|7 on Google Information.