H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, chaired a meeting of the Dubai Securities and Exchange Higher Committee to review 2024’s accomplishments and set strategic goals.
The Committee aims to reinforce Dubai’s status as a leading global financial hub, aligning with the Dubai Economic Agenda D33 and the vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum.
Sheikh Maktoum lauded the Committee's innovative strategies that meet the needs of local and global investors. He noted Dubai’s achievements in the capital markets, including three major IPOs in 2024—Parkin, Spinneys, and Talabat, the UAE’s largest private sector IPO. Since the Committee’s inception, the Dubai Financial Market (DFM) has hosted 10 listings, raising over AED43 billion, with demand exceeding AED1.2 trillion.
The DFM General Index outperformed all regional indices for the second consecutive year, growing by 19%. Its market capitalisation surged over 100% from AED394 billion in 2022 to AED801 billion in December 2024. International investors contributed 47% of trading activity, with 85% of 132,000 new investors in 2024 hailing from abroad, particularly the Asia-Pacific region.
Nasdaq Dubai emerged as the global leader in Sukuk listings, with 51 listings valued at AED360 billion, and the aggregate fixed-income securities valued at AED528 billion. Sovereign issuances came from China, Hong Kong, Indonesia, and other nations.
Sheikh Maktoum also reviewed progress by the Virtual Assets Regulatory Authority (VARA), which aims to enhance Dubai’s leadership in virtual assets. Other initiatives include green bonds worth $27 billion, a carbon credit trading pilot, and the IPO Accelerator programme.
These milestones underscore Dubai’s position as a dynamic financial hub fostering global investment and innovation.
News Source: Emirates News Agency
