ABU DHABI, Abu Dhabi Finance Week (ADFW), held in the presence and under the patronage of H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Executive Council and Chairman of Abu Dhabi Executive Office, concluded on 18th November on a high note with notable outcomes, as it gathered the best of the best from the local, regional and international financial community in the heart of UAE’s capital, Abu Dhabi.
The event brought together 8,200+ participants including 500+ global dignitaries, 300 regional and international speakers, several asset management companies in charge of managing trillions of assets under management, and over 100+ start-ups.
With over 100 sessions and 55+ announcements and partnerships between governments and private/economic entities, the grand event brought together experts from the financial community around the world under a single umbrella to discuss the most important topics and challenges faced by investors, regulators, and start-ups in the financial sector.
Abu Dhabi Finance Week, served as a unique occasion to announce the concept of the Falcon economy, highlighting how UAE’s capital emirate resonates with the nation’s golden emblem and is on a growth path that is set to soar to new heights of success. Through this new concept, Abu Dhabi is defined as a growing, prosperous, liberalised, and diversified economy, driven by a strategic vision, structural transformation, and countercyclical monetary and fiscal policies, resulting in sustainable growth and development.
With an aim to enrich the financial and sustainable economic landscape of the UAE and the sector, ADFW witnessed four key theme days, namely, Asset Abu Dhabi, Fintech Abu Dhabi, Crypto Abu Dhabi, and R.A.C.E (Regulation, Awareness, Collaboration, Ecosystem).
Asset Abu Dhabi, held on 14th November, brought together global investors on one platform to discuss economic transformation of the Middle East, investment risks across asset classes and investing in the economy of the future. A key announcement was made by Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED), who addressed the audience with an update on the operations of the Abu Dhabi AED5 billion (US$1.4 billion) IPO Fund.
The following day, Fintech Abu Dhabi forayed into the potential of Web3, how the future of content consumption is being revolutionised in the Metaverse and credit & lending. During Fintech Abu Dhabi, ADGM Courts revealed the world first-ever introduction of blockchain technology for the global enforcement of commercial judgments. An innovative solution that will result in substantial time and cost savings for parties in the enforcement of their commercial judgments.
November 16 was marked by Crypto Abu Dhabi which featured engaging insights on digital assets, crypto platforms, and the impact of Web3. On this day, ADGM announced the launch of “Abu Dhabi Crypto Hub”, which represented another strategic initiative taken by ADGM in support of economic diversification and the growing role of Abu Dhabi as a financial hub.
Crypto Abu Dhabi served as a vital platform to facilitate the assembly of the global crypto, blockchain and decentralised finance entities, while also discussing and planning the long-term growth and development goals of the financial industry.
The event concluded with R.A.C.E which brought into focus climate regulations and frameworks with a special focus on financing the transition to Net Zero. The R.A.C.E summit witnessed exemplary initiatives at the level of Carbon exchange with the signing of an MoU between Al Jubail Island and ADGM. Committed to offsetting its carbon emissions, ADGM has pledged to plant 15,000 mangrove trees, thereby contributing towards Al Jubail Island’s objective of planting 1 million new mangroves on the island.
Source: Emirates News Agency