Capital markets increase 114 times to 3.2 trillion dirhams
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The UAE stock markets have managed to keep pace with the rapid growth of the UAE economy since the establishment of the federation some 51 years ago, after being a true mirror of the country’s prosperity and economic growth, with multiple increases in market value. more than 114 times, exceeding 3.2 trillion dirhams, 22 years after its establishment.
The continued success of local stock exchanges is a reflection of the march of prosperity and development and prosperity of the national economy, with constant and continuous support under the wise leadership of His Highness Sheikh Mohammed bin Zayed Al Nahyan, the President of the State, “may God protect him” and His Highness Sheikh Mohammed bin Rashid Al Maktoum , Vice President and Chairman of the Council of Ministers and Ruler of Dubai, “may God protect him”, with the aim of strengthening the position of the market at the regional and global level, and doubling the market value of the financial markets of Abu Dhabi and Dubai, to reach 6 trillion dirhams over the next three years.
According to monitoring by the Emirates News Agency, WAM, the market capitalization of shares listed on the local financial markets has increased more than 114 times, jumping from 28.4 billion dirhams at the end of 2000, distributed with 21.1 billion for the Dubai market and 7.3 billion dirhams for the Abu Dhabi market, to reach 3.247 billion dirhams by the end of November 2022, of which 2.66 billion are for the Abu Dhabi market and 582.4 billion for the Dubai market.
The UAE markets witnessed a significant increase in the number of listed companies, reaching 142 companies, including 67 companies on the Dubai Financial Market, including 14 dual-listed companies, and around 88 companies listed on the Abu Dhabi Stock Exchange, including 75 public and 13 private companies, while the market includes and 13 funds, investments in circulation and 39 debt instruments (bonds and sukuk).
The big jump in the number of listed companies and the doubling of the market value of local markets is an extraordinary reflection of economic trends and meeting the needs of economic development, which began to take on an integrated and organizational framework in the construction of state institutions. , especially after the establishment of the Union of States, which had the greatest influence in creating an economy that has all the necessary ingredients for its existence and development.
The position currently occupied by the UAE markets and their continued support to the national economy is the culmination of continuous efforts within the integrated strategic plan developed by the Securities and Commodities Authority and the markets of Abu Dhabi and Dubai with the aim of achieving leadership in the development of financial markets and contributing to support the growth of the national economy, according to the best international standards and practices, in order to increase the competitiveness of the country In various indicators, reports and international forums.
The UAE markets derive their strength from several objective criteria related to the general indicators of the country’s economy, such as the size of the domestic product, income per capita, the government’s stability in the economic decisions it makes and other things available in the national economy of the UAE, which characterize the strength, solidity and good growth rates not available in other countries Many emerging markets and even some developed global markets.
The development and growth of the UAE market was not only limited to the local level, but also expanded to the global level after the UAE was able to establish its position on the world stock map with the recognition of Morgan Stanley who decided to upgrade the UAE markets to the emerging market index a few years ago after we saw the improvement resulting from the Continuous Development in a move that contributed to increase the flow of foreign investment, with the promotion of the S&P Dow Jones index and the FTSE secondary emerging market index, which contributed to strengthening the competitiveness of these markets at the global level and increased the attractiveness of the country’s market to foreigners investors.
The Securities and Commodity Authority has been in charge since its establishment in 2000 after the late father, Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul, issued Federal Law no. Goods at the legislative, supervisory and regulatory level, according to scientific and professional bases that adopt the best international standards in this field.
The most notable achievements were the development of an integrated legislative system for markets for more than 100 laws that differ between regulations and decisions. The number of financial services activities licensed by the Agency in accordance with the best international practice has reached more than 200 spread over 12 jobs that include mediation in securities trading, mediation in commodity trading and settlement. consultant for quotation, and administrative services of investment funds.
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