The Emirate has a robust and successful finance heritage - with a well-diversified portfolio across asset classes, geographies and sectors that all share the same deliberate and long term view of investment.
It was the discovery of oil and gas in the late 1960s that provided the opportunity to build and diversify a strong economy in line with the vision of Sheikh Zayed Bin Sultan Al Nahyan. In accordance with the plans drawn up under his leadership, the supervision of His Highness Sheikh Khalifa Bin Zayed, Ruler of Abu Dhabi, and the guidance and direction of His Highness General Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, Abu Dhabi has developed its significant reserves of oil and gas and, from them, built a diversified economy with more than US$1 trillion of investable assets under management.
It is within this context that Abu Dhabi’s ambition for an international financial centre and the development of Abu Dhabi Global Market (ADGM) was a natural next step for the Emirate and the UAE.
ADGM has also tapped on the inherent strengths of the Abu Dhabi economy to establish an international financial centre which will stand alongside the world’s leading centres, such as Hong Kong, Singapore, London and New York, operating in partnership with them.
At the heart of ADGM’s strategy is the spirit of long-term partnership and collaboration - locally, regionally and internationally.
ADGM’s strategy and regulations are developed in close collaboration and in consultation with the key players in the global financial industry including leading financial institutions, regulators and IFCs. More than 60 institutions, 25 of whom constitute our Expert Panel, continue to actively engage with us and provide valuable input and guidance.
2015 was a defining year for us as our first licensed institutions began transacting business from ADGM on Al Maryah Island. As an IFC, ADGM comprises The Registration Authority, the Financial Services Regulatory Authority (FSRA) and ADGM Courts. As we had promised our stakeholders and customers, ADGM became fully operational in October 2015, opening our doors to financial and non-financial entities that seek to establish their presence and expand their business via the ADGM platform. As a global corporate citizen, ADGM will continue to enhance its position and establish partnerships and collaborations with local stakeholders and international financial authorities.