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3/14/24, 12:18 PM Maktoum bin Mohammed commends progress and initiatives of Dubai Securities and Exchange Higher Committee - UAE B…
Maktoum bin Mohammed commends progress and initiatives of Dubai Securities and
Exchange Higher Committee

March 13, 2024

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 Exchange Higher Committee, chaired a meeting of the Committee. During the meeting, His Highness received a comprehensive
briefing on the past achievements and upcoming key projects of the Committee.
Highlighting Dubai’s strong commitment, HH Sheikh Maktoum underlined Dubai’s relentless pursuit to bring to fruition the grand vision of His Highness Sheikh Moha
bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. He reiterated that Dubai’s ambition to establish itself as the epicentre of gl
finance and secure its position among the world’s top four financial hubs, is aligned with the Dubai Economic Agenda D33.
His Highness lauded the Committee’s concerted efforts to consistently implement innovative approaches to meet current market demands, stating: “The accomplishmen
the Securities and Exchange Higher Committee in advancing capital markets have played a crucial role in fostering growth and consolidating Dubai’s leading position o
global financial stage, aligning with our comprehensive vision for the emirate.”
DFM clocks record-breaking performance in 2023
HH Sheikh Maktoum was provided with a comprehensive overview of the Dubai Financial Market’s (DFM) noteworthy achievements in 2023. A standout accomplishm
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 tra
activities, heightened capital inflows, and a notable influx of new investors. Furthermore, the implementation of various innovative market initiatives such as an enhanc
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 marke
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 th
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 AE
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 s
funding for their growth and expansion endeavours.
New initiatives and regulatory measures
His Highness Sheikh Maktoum was also briefed on the Committee’s new initiatives introduced in 2023 to enhance the market depth and liquidity of Dubai’s capital ma
This included collaboration with DFM’s market marker xCube, to improve market accessibility through the introduction of a digital account opening platform.
In addition, DFM focused on sustainable financing initiatives, launching the Carbon Credit Trading Pilot programme at COP28, as well as intensifying efforts to foster
growth of green bonds and sukuk issuance, valued at AED27 billion in 2023.
In addition, the Dubai Securities and Exchange Higher Committee established the Financial Markets Law Enforcement Committee in Dubai. This committee is respons
formulating processes to monitor financial markets, facilitate business, detect violations and enforce laws, and issue local financial market legislations and incentives to

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