Dubai aims to increase stock markets volume to AED 3 trillion

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and the UAE's Deputy Prime Minister and Minister of Finance, today announced the listing of 10 government and state-owned companies on the Dubai Financial Market (DFM).

The move is part of accelerating new listings in various sectors including energy, logistics and retail.

Sheikh Maktoum also announced the formation of a Dubai Markets Supervisory Committee and specialised courts for capital markets in Dubai.

As part of the vision of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai aims to increase the total volume of its stock markets to AED 3 trillion.

The announcements came during the first meeting of the Securities and Exchange Higher Committee chaired by Sheikh Maktoum.

The Committee approved the establishment of a market-making fund worth up to AED 2 billion to increase liquidity in the markets.

It will also launch an AED 1 billion fund to support tech company IPOs and encourage innovative financial products and solutions.

. @MaktoumMohammed chairs the first meeting of the Securities and Exchange Higher Committee, announces listing of 10 government and state-owned companies on #Dubai Financial Market. pic.twitter.com/XR8n1vMyOc

— Dubai Media Office (@DXBMediaOffice) November 1, 2021

Furthermore, the Committee will mandate the study of a regulatory framework to attract new digital assets to operate from Dubai, in addition to supporting Environmental, Social, and Governance (ESG) factors and reporting in operations, which will contribute to shaping Dubai’s future economy.

The Committee, which is charged with developing the vision for the financial sector and evaluating plans and policies to meet strategic objectives, approved the formation of the Dubai Markets Supervisory Committee, chaired by Dr. Abdulla Al Ghafari.

It will be responsible for supervising, monitoring and protecting the rights of shareholders and investors, and enhancing transparency and enforcement in Dubai’s securities and commodities markets through effective coordination between relevant stakeholders

The Committee also approved the formation of two specialised courts within the Commercial Court to settle securities disputes starting from January 2022.

The courts will be dealing with both major and minor disputes based on the financial value of each case.

The Securities and Exchange Higher Committee approves the establishment of a market making fund worth up to AED2 billion to increase liquidity; also launches an AED1 billion fund to support IPOs in tech companies and encourage innovative financial products and solutions.

— Dubai Media Office (@DXBMediaOffice) November 1, 2021