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ADGM: 17 Aug 2020
Abu Dhabi Global Market (ADGM), the award-winning International Financial Centre, is pleased to be accorded ‘Best International Financial Centre (EMEA) 2020’ by London-based Capital Finance International (CFI.co) for the second consecutive year. The award recognizes ADGM’s achievements in the financial and judicial services sectors, and transformational initiatives enhancing its value proposition as a strategic International Financial Centre serving the needs of global, regional and local stakeholders.
The award marks several successful milestones achieved by ADGM over the course of the year. Despite current unprecedented circumstances, ADGM has continued to thrive with key initiatives introduced to support business growth and create new business opportunities. The judging panel commended ADGM for its progressive vision and efforts to deliver a world-class regulatory framework for digital financial services, being the first jurisdiction in the MENA region to implement English common law in its entirety, and upholding international best-practice. ADGM is also recognised for developing new international ties to foster economic growth through greater collaboration, connectivity and expansion.
Richard Teng, Chief Executive Officer, Financial Services Regulatory Authority of ADGM, said: “On behalf of ADGM’s Executive Management, we are humbled and honoured to receive this recognition by the panel of judges of CFI.co and the global community. We are very encouraged by this endorsement. We will continue to press ahead with key initiatives to support business growth, accelerate innovation, and uphold the highest global standards and best practice for the benefit of our customers, investors and the overall Abu Dhabi economy.”
Since its inception in 2015, ADGM has successfully established a sound and progressive jurisdiction and business platform that augment Abu Dhabi’s position as a global trade and financial hub. The IFC now has almost 2,685 registered licenses in issue and more than 150 approved financial institutions. ADGM is committed to fostering a holistic and thriving ecosystem that will enable the growth and development of local and international enterprises from across the region and the globe. Over the past 5 years, ADGM has championed the latest innovations, pioneered progressive regulations and launched a broad range of first-of-their-kind initiatives in the region, standing at the fore of financial innovation and ingenuity. The IFC has established numerous partnerships, and aided in the development of various initiatives, that aim to foster the development of Abu Dhabi’s sustainable economic development and facilitate a knowledge-based economy across the wider nation.
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