Finance and wealth

Global financial powerhouse

Renowned as a nexus of prosperity and innovation, Dubai's finance and wealth sector is a testament to its unwavering commitment to excellence. The city has a diverse economy, including well-developed non-oil sectors that significantly contribute to economic growth, making it a popular destination for investment and business.

The city hosts a financial market with one of the largest concentrations of Islamic bonds and three derivatives platform operators: Dubai Gold and Commodities Exchange, Dubai Mercantile Exchange and Nasdaq Dubai, making it an attractive option for global investors across asset classes.

D33: Shaping the future of finance

One of the goals of the D33 agenda is to position Dubai as a regional leader in new-age finance by developing its capital market infrastructure, with a key focus on virtual assets, crypto, blockchain and fintech.

Dubai aims to become one of the world’s top four financial centres by 2033 and It also aims to serve as the ‘bank of the region’ for various services, including SME financing, trade finance, insurance and reinsurance.

Accelerating financial innovation 

Dubai has launched various funds, including a US$272 million (AED1 billion) fund to support new economy companies within the Dubai Future District. The Dubai Future Accelerators, a collaboration between major businesses and government stakeholders, fosters innovation by supporting cutting-edge start-ups.

The independent regulator Dubai Financial Services Authority (DFSA) has also introduced its Innovation Testing Licence (ITL) Programme, which enables fintech firms to test new products and technologies within DIFC. Over 100 companies have registered interest.

Home of HNWIs and private wealth

Dubai is home to many High-Net-Worth Individuals (HNWI) and a significant amount of private wealth. With more than 75,000 millionaires, 200 centimillionaires (worth over US$100 million or AED367 million) and 15 billionaires, Dubai is the third-wealthiest city among the BRICS member nations.

Preferred choice for wealth management firms

Hundreds of wealth management firms operate in Dubai, drawn by its flourishing economy, future-ready financial environment, clear regulations, market opportunities and advantageous tax laws. 

The DIFC alone has more than 300 wealth management firms. Firms like IIFL Private Wealth Management, Iron Wealth, Edmond de Rothschild, EnTrust Global, Nomura Singapore Limited and The Family Office Company have set up base in Dubai, helping clients channel their investments into new geographies stretching from Africa to South Asia.

Ideal destination for fintech 

Dubai is a significant enabler for fintech growth and expansion across the MEASA region. In recent years, key subsectors attracting funding included neobanks, open banking and corporate and personal lending. Currently, more than 80 fintech start-ups operate in Dubai.

Diverse tech epicentres within Dubai support the thriving fintech industry, such as Dubai International Financial Centre’s (DIFC) Innovation Hub and Dubai Multi Commodities Centre (DMCC) and its newly launched Crypto Hub.The city’s support for the digital economy is also embodied in innovation centres like the Dubai Future District, which provides financing and legislative services. Additionally, the Dubai Integrated Economic Zones (DIEZ) has announced its US$136 million (AED500 billion) venture capital fund to empower fintech start-ups.

Spearheading virtual asset regulation

Dubai has positioned itself at the forefront of advancing digital asset regulation by establishing the Virtual Asset Regulatory Authority (VARA), the world's first independent regulator of virtual assets. Granting licenses to crypto firms, VARA boosts Dubai's status as a crypto hub. Its operational framework supports sustainability and cross-border financial security, with its Test-Adapt-Scale model attracting tech-enabled firms to join Dubai's future-driven community.

Cultivating innovation in finance

Dubai has become a hub for financial innovation, with numerous projects attracting financial entities looking to capitalize on lucrative opportunities. The city's accelerators and sector-specific funds further enhance its appeal, resulting in homegrown fintech successes and enticing global virtual assets, crypto, and Web3 companies to establish their regional bases here. 

Dubai’s well-established domestic market continues to attract new forms of investment, enabling non-equity-based partnership opportunities across joint ventures, strategic alliances, sub-contracting, licensing and production-sharing franchising.