The capital of the UAE financial markets has grown 114 times in 22 years
The UAE stock markets have managed to keep pace with the rapid growth witnessed by the UAE economy since the establishment of the federation some 51 years ago, after being a real mirror of the country’s prosperity and economic growth, with its market value doubling more than 114 times, surpassing 3.2 trillion dirhams, 22 years after its establishment.
The continued success of local stock exchanges is a reflection of the march of prosperity, 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, President of the State, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of the State of Dubai, with the aim of strengthening the position of the market at the regional and global level, and doubling the market value of the Abu Financial markets in Dubai and Dubai, reaching 6 trillion dirhams over the next three years.
The market capitalization of stocks listed on the local financial markets doubled more than 114 times, jumping from 28.4 billion dirhams at the end of 2000, distributed by 21.1 billion for the Dubai market, and 7.3 billion dirhams for the Abu Dhabi market, to reached 3.247 trillion dirhams by the end of November 2022, including 2.66 trillion 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, of which 67 companies are on the Dubai Financial Market, including 14 dual-listed companies, and around 88 companies listed on the Abu Dhabi Stock Exchange, including 75 public limited companies and 13 private limited companies. companies. The market also includes 13 traded investment funds 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 construction, which began to take on an integrated and organizational framework in construction. state institutions, especially after the establishment of the Community, which had the greatest influence in creating an economy that has all the necessary ingredients for its survival and development.
The position that the UAE markets currently occupy 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 Strengthening the country’s competitiveness 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 stability of the government in the economic decisions it makes and other things available in the national economy of the UAE, which characterize the strength, firmness and good growth rates that are second to none. It is available in many developing markets and even in some developed world 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 managed to establish its position on the global stock map, with the recognition of Morgan Stanley, which decided to upgrade the UAE markets to the market index a few years ago in the making, after touching on the Improvement resulting from continuous development, in a move that contributed to the increase in the flow of foreign investments, with the promotion of the “S&P Dow Jones” index and the “FTSE” index of secondary developing markets, which contributed to the strengthening of the competitiveness of these markets on on a global level, and increased the attractiveness of the country’s market for foreign investors.
The Securities and Commodities Authority, since its establishment in 2000, after the founding father, the late Sheikh Zayed bin Sultan Al Nahyan, may God have mercy on his soul, issued Federal Law no. Finance and the commodity market at the legislative, supervisory and regulatory level, according to scientific and professional bases that adopt the best international standards in this field.
From the first day of its establishment, the Agency began to issue licenses and regulate financial markets, and to consolidate its leading position at the local, regional and global level, while enjoying legal personality, financial and administrative independence and all the regulatory, supervisory and executive powers necessary to perform its duties. jobs in accordance with the provisions of the law and adopted regulations.
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