The total value of new listed bonds and sukuks related to governance, social and environmental responsibility at the Dubai Financial Services Authority reached $11.72 billion.
registered Dubai Financial Services Authority An increase in licenses by 25%, from 117 new companies to 791 companies during the year 2023 compared to the year 2022.
The 2023 annual report of the Dubai Financial Services Authority stated that there was a noticeable increase of 50% annually in applications submitted across various business models, which reflects the growth and diversity in the financial services sector in the Dubai International Financial Center.
The resource management sector also witnessed significant growth with an increase in the number of license applications from private banks, asset managers, and investment fund management companies, as the authority received more than 40 registration applications for local investment funds during the year.
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The Dubai Financial Services Authority achieved remarkable growth in the listings of governance, social and environmental responsibility bonds, as the total value of new listed bonds and instruments related to governance, social and environmental responsibility reached $11.72 billion, bringing the total outstanding securities related to governance, social and environmental responsibility to $27 billion by the end of the year.
The amendments made to the Anti-Money Laundering and Counter-Terrorism Financing and Sanctions Unit made the rules of the Dubai Financial Services Authority compatible with the new regulations and guidelines at the federal level of the UAE.
The Dubai Financial Services Authority signed 115 bilateral memorandums of understanding during 2023, five multilateral memorandums of understanding, and eight agreements related to the field of innovation, which contributes to strengthening its international partnerships and commitment to regulatory cooperation.
The Authority’s threat intelligence platform has achieved exceptional achievements, including issuing more than six million breach indicators to users since its launch in 2020.
