ADGM wins ‘Best International Financial Centre EMEA 2020’ for 2nd consecutive year

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ADGM wins ‘Best International Financial Centre EMEA 2020’ for 2nd consecutive year

17 Aug 2020

The Abu Dhabi Global Market, ADGM, the award-winning International Financial Centre, has been named the "Best International Financial Centre, EMEA, 2020" by London-based Capital Finance International (CFI.co) for the second consecutive year.

The award recognises the ADGM’s achievements in the financial and judicial services sectors, and the 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 the ADGM over the year. Despite the current unprecedented circumstances, the ADGM has continued to thrive with key initiatives introduced to support business growth and create new business opportunities. The judging panel commended the ADGM for its progressive vision and efforts to deliver a world-class regulatory framework for digital financial services, being the first jurisdiction in the Middle East and North Africa, MENA, region to implement English common law in its entirety, and upholding international best-practice. The ADGM is also recognised for developing 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 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, the 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 licences in issue and more than 150 approved financial institutions.

Over the past five years, the 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.

Source: WAM