Maktoum bin Mohammed chairs the meeting of the Supreme Committee for the Development of the Economic and Financial Sector in Dubai

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Governor of Dubai, Deputy Prime Minister and Minister of Finance and Chairman of the Supreme Committee for the Development of the Economic and Financial Sector in the Emirate of Dubai, chaired a meeting of the committee, reviewing the committee’s action plan and its most prominent duties and targets for the coming period.

Pioneer global center

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum said: “Dubai has a great economic position at the international level, thanks to the visions and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, where the development of the economic and financial sector comes as a continuation of these efforts, and aims to consolidate the emirate’s position as an international economic and financial center that provides the best business environment for the sector“.

His Highness added: “The role of the Supreme Committee for the Development of the Economic and Financial Sector in Dubai comes, complementary and consistent with all efforts and projects that seek to enhance the efficiency of the economic and financial system, as the committee seeks to enhance the efficiency of the economic and financial system to ensure its continued development in line with the best global practices, and to increase its ability to adapt to the rapid transformations in the global economic scene … Developing laws, updating regulations for the sector, enhancing transparency and governance, encouraging induction in financial markets, and attracting investments in innovative, high -value areas“.

His Highness continued: “The committee constitutes an important step towards upgrading the financial and economic sector to a new stage of qualitative development, in a way that keeps pace with our future aspirations and enhances the emirate’s position within the most important economic and financial cities in the world … Our goal is to formulate integrated visions and policies that support Dubai’s competitiveness and consolidate its position as a major axis in the global economy“.

His Highness said: “Dubai takes the forefront of many global economic and financial indicators, which puts us in front of a great responsibility to preserve this leadership and achieve more excellence in the future.” His Highness, members of the committee, to develop innovative mechanisms that support the strengthening of the economic and financial model of the Emirate of Dubai to be the most dynamic, vital and attractive.

His Highness concluded by saying: “The committee will raise a comprehensive perception of the development of the financial sector in the Emirate of Dubai, which includes qualitative initiatives and policies, to accredit by His Highness Sheikh Mohammed bin Rashid Al Maktoum, within the emirate’s directions towards global leadership in this vital sector“.

Committee members

The Supreme Committee for the Development of the Economic and Financial Sector in the Emirate of Dubai includes in its membership, Muhammad bin Abdullah Al -Qarqawi, Vice President, Muhammad bin Hadi Al -Husseini, Omar Sultan Al -Ulama, Hilal Saeed Al -Marri, Issa Abdel Fattah Kazem, Faisal Youssef bin Slelatin, Fadel Abdel -Baqi Al -Ali, Saeed Al -Atrah, Hoda El -Sayed Naim Al -Hashemi, Secretary -General of the Committee.

A comprehensive agenda

During the meeting Competitive and innovative banking and investment, speeding up digital transformation in the financial sector by enhancing the role of virtual assets and financial technology and attracting global financial innovation companies.

His Highness directed the members of the Supreme Committee for the Development of the Economic and Financial Sector in the Emirate of Dubai, by reviewing and developing laws, regulations, regulations and policies for the economic sector, the financial services sector, financial markets, stock exchanges and courts, and enhancing the transparency and governance of the sector, as well as supporting the development of modern, advanced and integrated technical structure for the sector in order to increase its effectiveness and accelerate its economic and developmental role.

His Highness also directed the encouragement of induction in financial markets and facilitating related procedures, and working to make Dubai a global and regional center for economic, financial and investment activities, attracting companies and investors from various economic sectors, as well as enhancing diversity in economic and financial fields, including developing and attracting investments and projects in various fields such as: sectors of digital economics, financial technology, advanced industries, virtual assets, Entrepreneurship and innovation, focusing on future high -value sectors.

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum discussed during the meeting the committee’s role in adopting the higher economic and financial policies and strategies supporting the Dubai Economic Agency D33 Organizing work between the relevant economic and financial bodies to ensure the integration of its activities, the development of the economic and financial sector, and the achievement of the general strategy of the sector in the Emirate of Dubai, and monitoring and anticipating future opportunities and challenges that may affect the sector and set the necessary recommendations to confront them and benefit from them in a way that ensures far -reaching goals in coordination with the relevant authorities, in addition to enhancing the competitiveness of the economic and financial emirate of Dubai at the regional and international levels, through developing policies and houses Including the development of an integrated and facilitated system for the practice of economic activities, which enhances the arrangement of the emirate in global competitiveness indicators, and ensuring the sustainability of its attractiveness to investors, talents and innovation.

His Highness also reviewed the goals of the committee aimed at developing innovative economic and financial initiatives and activities that meet global developments and the structural changes it requires in the mechanisms of the work of the economic and financial system for the purposes of enabling investors to expand their investments and attract more capital and ensure freedom of money movement and investments, in addition to providing the incentives and facilities necessary for investors from individuals and institutions and motivating them To take advantage of the opportunities provided by the Emirate of Dubai and present them to the concerned authorities for implementation, and to develop and implement the necessary plans to promote the emirate as a destination for investors, financial portfolios and entrepreneurs locally and globally, and follow up their implementation with the relevant authorities in the emirate, in addition to seeing data and performance indicators for the economic and financial sectors and using it as a reference to develop and enhance the emirate’s position locally, regionally and globally.