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Abu Dhabi /Â WAM
His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, visited on Monday the Abu Dhabi Global Market (ADGM) on Al Maryah Island in Abu Dhabi.
He was accompanied by HH Sheikh Tahnoun bin Zayed Al Nahyan, National Security Adviser, HH Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court, Sultan bin Saeed Al Mansouri, Minister of Economy, Khaldoon Khalifa Al Mubarak, Chairman of Abu Dhabi Executive Affairs Authority and Mohammed Mubarak Al Mazrouei, Under-Secretary of the Crown Prince Court of Abu Dhabi.
HH Sheikh Mohamed was briefed by Ahmed Ali Al Sayegh, Chairman of ADGM, on the main achievements of the market since its inception in 2015, and the continuous developments that enforced its position as an important financial centre in the region and the world, as well as its ongoing contributions to supporting the UAE economy.
Sheikh Mohamed was also briefed on the main accomplishments of ADGM, such as winning the title of the Best Financial Centre in the Middle East and North Africa Award in its first year, and top ranking of Abu Dhabi and Dubai Financial Markets in Deloitte’s’ international report on the best finance technology centres in the region for 2017. He was also briefed on the launching of an integrated framework of action for financial technology and inaugurating of the ‘Organisational Laboratory’ initiative, the first of its kind in the region that targets emerging financial technology companies.
Sheikh Mohamed was also apprised of the strategy adopted by the ADGM, which enabled it to achieve the fastest rate of registration of funds in the region during its first year. The market established the first special system for real estate investment funds and co-operation with the Singapore Monetary Authority to establish a platform for the development of financial technology and encourage innovation in the financial services sector.
Plans are afoot to transform the ADGM into a global aviation financing centre and its successfully completed the first aviation deal between French corporate and investment bank Natixis and Etihad Airways, Al Sayegh informed Sheikh Mohamed.
The Crown Prince of Abu Dhabi was introduced to the modern techniques used at the Abu Dhabi Global Courts, which include an integrated electronic portal and innovative technical services for the management of judicial services.
He stressed that the UAE, led by President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has consolidated its economic position internationally due to the flexible policies, effective strategic planning and the clear vision regarding different economic sectors in the country.
Sheikh Mohamed called upon the employees at the ADGM to exert more efforts and invest in all available opportunities in the UAE to promote economic and commercial growth, and to put additional plans in place to promote the economic activity taking place in the country.
He added that the ADGM, along with other financial markets in the UAE, play a vital role in consolidating the position of the UAE as one of the leading international business and
financing hubs.