Sheikh Maktoum Approves Dubai Financial Sector Strategy
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Higher Committee for the Development of the Economic and Financial Sector in Dubai, recently chaired a pivotal meeting to approve the Dubai Financial Sector Strategy (DFSS). This strategic plan outlines a comprehensive roadmap aimed at reinforcing Dubai’s status as a leading global financial center.
Overview of the Dubai Financial Sector Strategy
The DFSS is designed to significantly enhance Dubai’s financial landscape, with a primary goal of doubling its contribution to the emirate’s GDP and substantially increasing the volume of assets under management within its borders. The strategy includes transformative initiatives expected to reshape the future of finance in Dubai.
During the meeting, Sheikh Maktoum emphasized the importance of the DFSS and its outlined projects. He stated, “We approved the Dubai Financial Sector Strategy during the meeting of the Higher Committee for the Development of the Economic and Financial Sector in Dubai, along with its transformative projects. We also reviewed the key achievements of the Dubai Financial Market.”
Focus on Virtual Assets and Market Performance
Sheikh Maktoum received updates on the performance of the Dubai Financial Market (DFM) in 2025, alongside plans initiated by the Virtual Assets Regulatory Authority (VARA) to foster sector development. The emirate has emerged as the world’s largest licensed market for virtual assets, with year-to-date transaction volumes approximating AED2.5 trillion (USD680 billion).
The meeting also included discussions on effective implementation mechanisms for the DFSS. A significant focus was placed on the executive plan for ARENA, the initial private offering platform launched by the DFM. Sheikh Maktoum noted the projected significance of the virtual assets market in boosting economic metrics, with a conservative contribution to Dubai’s GDP estimated at 0.5 percent.
Transformative Programmes for Financial Growth
The DFSS outlines 15 transformative programmes that will roll out over the next three years. These initiatives target critical sectors such as capital markets, asset and wealth management, SME financing, virtual assets, and FinTech. Sheikh Maktoum commented on the ambition of these plans, saying, “This strategy represents a major step for Dubai’s financial sector. Plans to launch 15 transformative programmes aim to create an innovative and sustainable financial ecosystem.”
Moreover, the strategy is expected to encourage the listing of family businesses and startups, while also creating a favorable environment in the asset management sector through supportive legislation and policies. This dual approach is designed to attract new asset managers and enhance access to capital for small and medium enterprises (SMEs).
UAE’s Position in Global Financial Rankings
The announcement of the DFSS follows Dubai’s climb five places to rank 11th globally in the latest Global Financial Centres Index (GFCI). The index highlights Dubai’s leading growth potential among global financial centers, with significant anticipated gains over the next few years. These advancements align with Dubai’s overarching Economic Agenda D33, aimed at supporting long-term economic resilience.
Progress in the Virtual Assets Sector
Sheikh Maktoum was informed about the substantial progress made by VARA in its mission to establish Dubai as a premier global hub for virtual assets. With transaction volumes reaching AED2.5 trillion and assets under management surpassing AED9.6 billion in 2025, the market is witnessing increased participation from major institutional players.
Dubai currently hosts over 40 licensed virtual asset service providers (VASPs), solidifying its position as the largest licensed market of its kind globally. The regulatory framework implemented by VARA anticipates scaling responsible growth, projecting virtual assets could contribute approximately AED13 billion (USD3.54 billion), or around 3 percent of Dubai’s GDP.
DFM Market Capitalization Milestone
The DFM General Index experienced remarkable growth, surging 14.7 percent in 2025. This performance positions it among the top financial centers worldwide, marking total market capitalization reaching AED1 trillion (USD270 billion). The Higher Committee for the Development of the Economic and Financial Sector actively endorses elevated economic policies and strategies to support Dubai’s transformative economic agenda.
This comprehensive approach includes monitoring future opportunities and challenges that could affect the economic and financial landscape, ensuring that strategic goals align with stakeholder interests.
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