Maktoum bin Mohammed approves the strategy for the financial sector in Dubai

Dubai, 12 October / WAM / The Emirate of Dubai topped the global markets as the largest licensed market for virtual assets in the world, while the trading volume in the virtual asset markets licensed in the emirate reached 2.5 trillion dirhams since the beginning of this year, which strengthens Dubai’s position as a leading global financial center.
This achievement comes as a result of the proactive vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, “may God protect him,” in regulating the virtual assets market, as His Highness issued the first law of its kind to regulate virtual assets 3 years ago, and directed the establishment of the Dubai Virtual Assets Regulatory Authority (VARA), to enhance Dubai’s leadership in the future economic and financial sectors.
This came while His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, Chairman of the Supreme Committee for the Development of the Economic and Financial Sector in the Emirate of Dubai, chaired the committee meeting, where His Highness approved the financial sector strategy for the Emirate of Dubai, which represents a comprehensive road map, and aims to double the sector’s contribution to the emirate’s gross domestic product and increase the volume of managed assets.
During the meeting, His Highness discussed the mechanisms for implementing the financial sector strategy and its transformational projects, and developing the economic data system in Dubai, in addition to reviewing the executive plan for the “Arena” platform for initial private placements in the Dubai Financial Market.
During the meeting, His Highness was briefed on the Dubai Authority’s plans to regulate virtual assets to develop the sector. He also reviewed the most prominent achievements of the Dubai Financial Market during the year 2025, as the market’s general index recorded a growth of 14.7% since the beginning of this year, achieving its highest level since 2008, becoming among the best performing financial markets in the world compared to the major international financial centers.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum stressed that the strategy of the financial sector of the Emirate of Dubai translates the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, “may God protect him,” by consolidating Dubai’s position at the forefront of the most influential financial centers globally, and enhancing the financial sector’s contribution to the diversification and growth of the emirate’s economy.
His Highness said: This strategy represents a qualitative leap in the process of developing the financial sector in Dubai, through the launch of 15 transformative projects over the next three years aimed at establishing an innovative and sustainable financial system, providing promising opportunities for investors and enhancing their confidence in the business environment in Dubai, in line with our future ambitions to consolidate the position of the Emirate of Dubai as the most prominent destination in the world in the financial services sector and among the three most important financial centers. Global, in line with the objectives of the Dubai Economic Agenda D33.”
His Highness praised the pivotal role of the Dubai Virtual Assets Regulatory Authority in enhancing transparency in the sector and consolidating Dubai’s prominent role as a global center for virtual assets.
His Highness also appreciated the achievements achieved by the Dubai Financial Market, calling for the continued development of the financial markets sector in accordance with the highest international standards, and creating the best environment for local and international investors.
The meeting of the Supreme Committee for the Development of the Economic and Financial Sector in the Emirate of Dubai was attended by His Excellency Mohammed Abdullah Al Gergawi, Vice Chairman of the Committee, and members of the Committee: His Excellency Mohammed bin Hadi Al Husseini, His Excellency Omar bin Sultan Al Olama, His Excellency Hilal Saeed Al Marri, His Excellency Issa Abdel Fattah Kazim, His Excellency Faisal Yousef bin Sulaiteen, His Excellency Fadel Abdul Baqi Al Ali, His Excellency Saeed Al Attar, and His Excellency Hoda Al Sayyed Naeem Al Hashimi, Secretary General of the Committee.
The Emirate of Dubai’s financial sector strategy focuses on implementing 15 transformational projects over the next three years in the areas of: financial markets, asset and wealth management, financing startups, virtual assets, and financial technology, which will contribute to enhancing the growth of the financial sector and keeping pace with the rapid developments in the global economy.
The strategy seeks to encourage the inclusion of more family companies and emerging companies in the financial markets, in addition to developing legislation and stimulating policies to support the growth of the assets and wealth sector by attracting asset and wealth managers and new family offices for wealthy individuals to Dubai.
It also focuses on enhancing the role of small and medium-sized companies in the economy by building a pioneering financing model that relies on innovative solutions and an advanced financing structure that provides broader and easier access to capital, thus supporting the continuity of this vital sector and increasing its contribution to the domestic product.
Dubai’s financial sector strategy comes at a time when the emirate continues to consolidate its leadership position globally, after ranking first in the future classification of the Global Financial Centers Index, as the most influential financial center expected to be over the next two to three years.
During the meeting, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum listened to an explanation about the most prominent efforts taken by the Dubai Virtual Assets Regulatory Authority (VARA) to advance Dubai’s position as a regional and global destination in the field of virtual assets and related services, as the authority focuses its efforts on strengthening the infrastructure, expanding the scope of the spread of the virtual assets system, enhancing its flexibility, and committing to ensuring A safe and innovative environment for service providers and consumers alike.
The Dubai Virtual Assets Regulatory Authority has achieved notable achievements, as the trading volume in virtual asset markets licensed in Dubai has reached 2.5 trillion dirhams since the beginning of this year, and the volume of assets under management has increased with the entry of major investment institutions to more than 9.6 billion dirhams during the year 2025.
The contribution of the virtual assets sector is currently estimated at 0.5% of the GDP of the Emirate of Dubai (equivalent to 2.2 billion dirhams), with a goal of raising the contribution to 3% (about 13.2 billion dirhams).
Dubai currently has more than 40 licensed virtual asset service providers, making it the largest licensed market for virtual assets in the world. There are also more than 600 registered service providers that provide advisory services, technical solutions, or engage in private trading activities that do not require a full license.

During the meeting, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum was briefed on the most prominent achievements of the Dubai Financial Market, as the general index of the market recorded a growth of 14.7% since the beginning of this year, becoming among the best performing financial markets in the world compared to major international financial centers. The market index also recorded its highest level since 2008, and the market value of the Dubai Financial Market rose in 2025 to reach one trillion dirhams.
There was also an initial public offering for Alec Holding Company with a value of 1.4 billion dirhams, and a secondary public offering for Du with a total value of about 3.15 billion dirhams.
It is noteworthy that the Supreme Committee for the Development of the Economic and Financial Sector in Dubai aims to adopt the highest economic and financial policies and strategies that support achieving the goals of the Dubai Economic Agenda D33 and organize work between the concerned economic and financial authorities in a way that ensures the integration of their activities, develops the economic and financial sector, and achieves the general strategy for the sector in the Emirate of Dubai, in addition to monitoring and anticipating future opportunities and challenges that may affect the sector and developing the necessary recommendations to confront them and benefit from them in a way. It ensures the achievement of long-term goals in coordination with the relevant authorities, in addition to enhancing the economic and financial competitiveness of the Emirate of Dubai at the regional and international levels, through the development of policies and capabilities, including the development of an integrated and facilitating system for conducting economic activities, which enhances the emirate’s ranking in global competitiveness indicators, and ensures the sustainability of its attractiveness to investors, talent and innovation.
The committee also aims to develop innovative economic and financial initiatives and activities that meet global developments and the structural changes they require in the working mechanisms of the economic and financial system for the purposes of enabling investors to expand their investments and attract more capital and ensuring the freedom of movement of funds and investments, in addition to providing the necessary incentives and facilities for individual and institutional investors and motivating them to take advantage of the opportunities that arise. Provided by the Emirate of Dubai and presented to the relevant authorities for implementation, developing and implementing the necessary plans to promote the emirate as a destination for investors, financial portfolio managers and entrepreneurs locally and globally and following up on their implementation with the relevant authorities in the emirate, in addition to reviewing data and performance indicators for the economic and financial sectors and using them as a reference for developing and strengthening the emirate’s position locally, regionally and globally.

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