Page 78 - SALIK PR REPORT - MARCH 2024

3/14/24, 12:16 PM Maktoum bin Mohammed commends progress of Dubai Securities and Exchange Higher Committee

He reiterated that Dubai's ambition to establish itself as the epicentre of global finance and secure its

position among the world's top four financial hubs, is aligned with the Dubai Economic Agenda D33.

He lauded the Committee’s concerted efforts to consistently implement innovative approaches to
meet current market demands, stating, “The accomplishments of the Securities and Exchange
Higher Committee in advancing capital markets have played a crucial role in fostering growth and

consolidating Dubai’s leading position on the global financial stage, aligning with our comprehensive
vision for the emirate.”

DFM clocks record-breaking performance in 2023

H.H. Sheikh Maktoum was provided with a comprehensive overview of the Dubai Financial Market's
(DFM) noteworthy achievements in 2023. A standout accomplishment was the market's exceptional
performance, crossing the 4,000-point milestone for the first time in eight years. This success was

propelled by a significant increase in trading activities, heightened capital inflows, and a notable influx
of new investors. Furthermore, the implementation of various innovative market initiatives such as an
enhanced digital platform, the introduction of an IPO accelerator programme and the hosting of the

MENA IPO Summit, which brought together key players in the capital market space, further
contributed to this success.

As a result of these efforts, the DFM General Index (DFMGI) secured the fifth position globally in
2023, surpassing major global markets and attracting 230,000 new investors since 2022. The market
also witnessed substantial growth in market capitalisation, rising from AED582 billion at the end of

2022 to AED688 billion during the same period in 2023.

With AED34.5 billion in IPO proceeds raised on the DFM and demand surpassing AED1 trillion since
2021, alongside the listing of 155 bonds and sukuk valued at AED484 billion on both the DFM and
Nasdaq Dubai, Dubai's capital markets have emerged as a vital platform for regional and

international entities seeking to raise capital or secure funding for their growth and expansion
endeavours.
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