ABU DHABI – Abu Dhabi Global Market (ADGM) has been named ‘Best International Financial Centre (EMEA) 2019’ by London-based Capital Finance International (CFI.co) in recognition of ADGM’s role in the advancement of capital markets and financial ecosystem across Europe, the Middle East and Africa region.

The award reflects ADGM’s remarkable growth, its progressive legislative regime and the innovative initiatives across all three of its authorities, the Financial Services Regulatory Authority (FSRA), the Registration Authority and ADGM Courts, as exceptional accomplishments of an International Financial Centre (IFC). The judging panel commended ADGM for its comprehensive vision and its efforts in transforming the capital markets with market-driven initiatives and financial innovations. Some of ADGM’s unique traits include its “best-in-class and innovative regulatory framework and safe business environment”, “the progressive legislative system of the ADGM Courts”, and the “simple and efficient online business registration processes”, its strategic location as the gateway of Europe, the Middle East, Africa and Central Asia, to name a few.

Ahmed Ali Al Sayegh, Minister of State (UAE) and Chairman of ADGM, said: “We would like to thank our leadership, partners, and industry participants for making it possible for ADGM to establish a progressive jurisdiction that supports the economic transformation of Abu Dhabi and the MENA region. We also wish to extend our sincere appreciation to the judging panel of CFI.co and its participants for their vote of confidence.

ADGM remains focused on a clear blueprint of unlocking liquidity, accelerating business and innovation, and upholding the highest global standards and best practice. With our robust regulatory regime, conducive ecosystem and innovative spirit, we look forward to providing more opportunities for financial activities anchored in Abu Dhabi to contribute further to the region’s economy and to reinforce the UAE’s position as a thriving financial and investment hub.”

ADGM’s commitment to creating an open, well-regulated and customer-oriented financial ecosystem has resulted in rapid growth and confidence from industry participants. Since its inception in 2015, ADGM is now home to almost 1,850 registered entities and 120 financial institutions. These international and regional partners have identified ADGM as an ideal platform to tap into the fast growing MENA market. — SG