Abu Dhabi: Abu Dhabi Global Market (ADGM), the leading international financial centre (IFC) of the UAE's capital, marked its milestone seventh anniversary on Friday, celebrating the occasion with its vibrant business community.
ADGM's Chairman, Ahmed Jasim Al Zaabi, toured around the IFC to meet the international and local entities anchored at the jurisdiction, discussing the growth and developments achieved by the ADGM business community and identifying future plans that support their growth in the region while creating lasting sustainable opportunities for the national economy.
The tour started with meeting the Emirati students of ADGM Academy's National Development Programme to discuss the Emiratisation efforts within the private sector followed by a meeting with Hub71, the global tech ecosystem based in ADGM to presentHub71's second cohort of its incentive programme for 16 start-ups that have collectively raised more than $67 million in funding.
The tour continued with further meetings with ICE Futures Abu Dhabi (IFAD), the first international derivatives exchange in the emirate, to discuss ADGM as the trade hub for commodities and with a group of local asset managers to explore asset management opportunities. He also toured the newly set up co-working facility within the IFC, Cloud Spaces that services offices for businesses of all sizes, ergonomically designed boardrooms, private meeting spaces and co-working lounges.
In addition to this, a special Banker's Lunch was also organised with reputed representatives from the major financial institutions based in ADGM. The engaging tour ended with the chairman attending the opening ceremony of BCP Bank (Mauritius), the sixth-largest banking group in Africa in terms of equity, the leading banking institution in Morocco and the newest addition to the ADGM community.
Talking about ADGM's seventh anniversary and his tour of the IFC, Ahmed Jasim Al Zaabi, Chairman of ADGM, said, "As we mark the seventh year of our journey and look back, we see ADGM"s substantial progress in enhancing its international standing as an investment and commercial hub and are eager to continue this development in the realisation of ADGM's sector-based strategy.
A major part of this progress has been achieved through the unwavering trust our business community has placed in ADGM and the value Abu Dhabi and its leaders bring to harness transformational economic growth in Abu Dhabi, the UAE and the wider region."
He further added, "ADGM's accelerated growth strategy reflects a commitment to boosting local innovation in both traditional and new-age finance across a diversity of clusters, including virtual assets, CleanTech, HealthTech and CyberTech. Not only does this strategic impetus create vast opportunities for commercial development, local market adoption and access to talent, but it also serves to futureproof ADGM through the realisation of a business ecosystem that is an international destination of choice."
In merely seven years, ADGM has seen exponential growth and has gained the attention of the global and regional financial community, becoming the destination of choice for several businesses both locally and across borders.