Financial
DIFC Publishes Regional Outlook for Banking and Capital Markets
Dubai International Financial Centre (DIFC) has published a ‘Regional Outlook for Banking and Capital Markets’ report in partnership with LSEG Data & Analytics.
The report focuses on how regional IPO growth is expected to come in three phases. Firstly, the continued privatisation of state-related entities, followed by listings by family-owned companies, and lastly, FinTech and tech-enabled start-ups.
Additionally, the report considers the profile of investors based in the region, especially Dubai, which has attracted a rising number of wealthy individuals and families who are seeking to capitalise on investment opportunities.

Commenting on the report’s findings, Arif Amiri, Chief Executive Officer, DIFC Authority, said: “Driven by the surge in IPOs, capital markets across the MENA region have experienced remarkable expansion, driven by reforms aimed at enhancing market infrastructure and fostering greater foreign and regional investment inflows. With its strategic initiatives and robust regulatory framework, DIFC plays a pivotal role in driving innovation and stimulating growth within the financial sector. Dubai’s IPO boom underscores the city’s status as a thriving hub for capital markets, and DIFC’s role in enabling this acceleration through the firms that drive capital markets and provide advisory services for IPOs will continue to contribute to the dynamic evolution of global finance.”
Multifactor IPO Growth
Following two years of moderate IPO activity, 2024 shows signs of a rebound supported by the postponement of several 2023 deals in anticipation of more favourable market conditions. Based on data published by EY, 51 IPOs took place in 2022, raising USD 22bn, including a mix of both family businesses and the public sector.
The privatisation of state-related entities is leading to greater economic diversification, private sector development and sovereign liquidity creation. As of March 2024, Dubai had followed through on six out of the ten government entities it plans to take public, including Parkin, which was 165 times covered and attracted USD 71bn in orders – a new record for the emirate.
Another recent example includes the November 2023 listing of Dubai Taxi Co., a unit of Dubai’s Roads and Transport Authority (RTA), which raised USD 315mn and was 130 times oversubscribed, while Saudi Arabia’s wider plans to privatise USD 55bn in assets by 2025 reinforce the increasing regional trend towards privatisation.
From the private sector, the listing of family-owned companies is helping to drive business growth, succession planning and enhanced governance and transparency. For example, Al Ansari Financial Services, one of the UAE’s largest remittance and foreign currency exchange companies, owned by a local family group raised USD 210mn from its 2023 IPO, while Spinney’s (Spinneys 1961 Holding PLC), which was incorporated in DIFC to list its shares on DFM, thereby benefiting from its extensive laws, regulations, and stability, listed in April 2024.
Spurred on by the momentum of other, highly anticipated listings, such as Lulu’s forthcoming IPO, there is now an ever-growing list of demonstrable incentives for other family businesses to follow suit. A third wave of IPOs is expected through FinTech, and tech-enabled start-up exits, helping to stimulate new industries with high-growth potential, while creating strong demand from investors and viable exit options for VC investors.

Dubai as a Capital Markets Hub
Through increased IPO activity, banks, investment banks, brokerage firms and law firms within DIFC’s ecosystem also benefitted significantly from the privatisation of state enterprises, with fees for MENA deals alone exceeding USD 1.2bn and proceeds from MENA equity and equity-related deals exceeding USD 13bn in 2023.
The report also highlights how the region’s capital markets are becoming more mature, driven in Dubai by DIFC’s robust regulatory framework and commitment to innovation. DIFC is also home to more than 230 investment banks, all of which are stimulating capital markets.
Deepening of Dubai’s capital markets and market reforms, aligned with best practice have helped create greater opportunities for investors in different themes of the economy. As outlined in the report by John Wilkinson, Head of Emerging Markets Equity Capital Markets and Managing Director, Goldman Sachs, DIFC is driving this growth as an attractive jurisdiction for incorporation, through its business-friendly approach towards the rule of law, and how the Centre has grown as a venue for global investors.

A Magnet for Investors
The region is home to a vast range of potential investors. Notably, these include family businesses, and wealthy individuals who are represented by the influx of wealth of asset management firms.
According to recent data, the UAE attracted a record-breaking number of High-Net-Worth Individuals (HNWIs) in 2022, which continued into 2023 and beyond. Currently, there are an estimated 109,900 resident HNWIs, including 298 centi-millionaires and 20 billionaires, prompting DIFC’s estimated 370 asset managers to strengthen their presence in the emirate.

Financial
MidChains and Standard Chartered establish strategic banking partnership
MidChains FZE, a digital asset platform licensed by the Virtual Assets Regulatory Authority (VARA) to provide broker-dealer services to retail, institutional and qualified investors, today announced a strategic banking partnership with Standard Chartered.
Under the partnership, Standard Chartered will support MidChains with a range of banking services, including fiat settlement capabilities, segregated client money accounts, and correspondent banking. These services will power MidChains’ day-to-day operations and enable efficient settlement.

Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan, Standard Chartered, said: “The UAE has established itself as one of the world’s leading regulatory environments for digital assets and a global centre for financial activity. That creates a strong setting for regulated digital asset firms and established financial institutions to work together. Our partnership with MidChains puts that opportunity into practice, with Standard Chartered providing the banking services that support its institutional activity, including fiat settlement, segregated client money accounts and correspondent banking.”
Basil Al Askari, Chief Executive Officer, MidChains, added: “Institutional capital moves continuously between traditional and digital markets, and the infrastructure supporting that activity must keep pace. For institutional investors, digital asset services need to connect with the banking system that supports their wider activity. Our partnership with Standard Chartered brings that connection to MidChains’ institutional services, supporting clients as capital moves between traditional and digital markets.”
By bringing a VARA-licensed digital asset platform together with an established international bank, the partnership connects institutional digital asset activity with the banking infrastructure behind fiat settlement. It is a practical example of how the UAE’s regulated financial ecosystem can link innovation with established banking capabilities to support international business.
Financial
Ukrainian Business Council elects new Board to advance Ukraine–UAE trade and investment
The Ukrainian Business Council in the UAE (UBC) elected a new Board at its General Assembly at Dubai Chamber, where members also approved a 2026–2028 strategy to strengthen trade and investment between the two countries.
Over the next three years, the Council plans to extend its trade delegation programme to new markets, deepen ties with international business councils and launch structured investment dialogues to connect UAE investors with opportunities in Ukraine. The UAE–Ukraine Comprehensive Economic Partnership Agreement (CEPA), Ukraine’s first agreement of its kind with a Gulf state, came into force in July 2026 and removes or reduces customs duties on most goods traded between the two countries.
“Ukrainian companies are achieving real results in the UAE, and we see significant untapped potential for Emirati business and investment in Ukraine. Our role is to build on this momentum: to connect the right partners, support companies at every stage of their growth and help investment flow with confidence in both directions.” commented Olena Shyrokova, President, Ukrainian Business Council in the UAE.
In 2025 and 2026, UBC led business delegations to Vienna, Qatar, Ras Al Khaimah, Fujairah, Oman and the Seychelles. It also ran webinars on UAE market entry for Ukrainian companies and business associations and supported the Ukrainian IT delegation at GITEX. Since its founding in 2016, the Council has established a dialogue with the Federation of UAE Chambers and chambers of commerce across the Emirates.
Under the new strategy, UBC will work with international business councils to give Ukrainian companies access to wider business networks in the Emirates and use the UAE as a base for trade missions to the Gulf, Asia and Africa. The Council will help Ukrainian companies in the UAE with registration, investment and expansion. It also plans to help Ukrainian investors find opportunities in the Emirates, attract Emirati investment to support Ukraine’s recovery and develop arbitration and investor protection mechanisms to build confidence in cross-border agreements.
The Council sees the strongest potential in sectors where Ukrainian strengths meet Emirati priorities: agri-food and food security, IT and digital services, renewable energy, logistics and port infrastructure, and post-war reconstruction. These are also the areas both governments have highlighted for future cooperation.
UBC works closely with the Embassy of Ukraine in the UAE and with H.E. Dr Oleksandr Balanutsa, Ambassador Extraordinary and Plenipotentiary of Ukraine to the UAE. The Council took part in the Cities Unite: Cultural and Business Exchange between the UAE and Ukraine dialogue at Expo City Dubai, initiated by H.E. Reem bint Ebrahim Al Hashimy, UAE Minister of State for International Cooperation, and the Embassy of Ukraine.
The Council will continue to support Ukrainian businesses and the wider community, helping companies expand into the UAE and encouraging UAE investment in Ukraine. Businesses, investors and potential partners interested in working with the Council can get in touch by reaching out to info@ukrainianbc.org.
Financial
UAE primed to convert FDI inflows into economic velocity, says new report
The UAE has built one of the world’s most successful models for attracting foreign direct investment (FDI) and is now positioned to convert that capital into lasting innovation and skill development, according to a white paper from White Paper Media Consulting (WPM), a UAE-based strategic research house that is shaping business and policy conversations in the region using credible datasets and analytical tools.
Beyond the Numbers: The Transformative Intangible Impact of FDI argues that the real returns on FDI now lie in the intangible value it embeds within host economies, with the UAE a defining case study. The paper contends that the next phase will go beyond investment volumes, number of projects, and job creation and be measured also in patents generated, skills transferred, data ecosystems built, and clean technologies commercialized, among other things.
Official data shows that the UAE attracted more than $48.3 billion in FDI inflows in 2025, capturing 3.1% of global flows. Greenfield FDI reflected both volume and capital depth, with 1,562 projects announced for a combined $34.1 billion in capex, or 1.8% of the global total.
The country’s ability to attract investment reflects its competitiveness as a hub for operational efficiency, supply chain integration, and regional headquarters functions. The UAE has deliberately repositioned its FDI strategy toward knowledge-intensive and future-oriented sectors, recognizing that long-term competitiveness is increasingly driven by innovation, digital capabilities, and human capital. This approach aligns closely with the OECD FDI Qualities framework, with tangible examples across each dimension: including the innovation and competitiveness, digitalization and technology adoption, sustainability and clean energy investments for climate targets, and human capital and local expertise.
Drawing on the OECD framework and benchmarks from Ireland, Singapore, Israel, Costa Rica, and Malaysia, the report documents how leading economies have shifted focus from the volume of capital they attract to the long-term value it creates. In the context of UAE, this is visible in the shift in the country’s policies across phases that begin with the Foundation Phase from 1985 to 2005 of Market Liberalization and Infrastructure Creation, culminating in the current positioning as Global Capital and Technology Hub.
The shift to value in the UAE has made a huge difference to the job-creation intensity of FDI. Approximately 2,816 jobs were created in the UAE for every billion dollars received in greenfield FDI in the five years from 2019 to 2023, compared to 2,265 in the previous five years. This is higher than the OECD average of 2,318 and 1,880 respectively.
The paper identifies seven ongoing policy shifts that deepen the qualitative impact of FDI in the UAE, including extending spillovers from free zones into the mainland economy, prioritizing R&D-intensive investment, embedding skills transfer requirements in major projects, and positioning the country as a global leader in IP creation and data governance.
Yazad Darasha, co-founder and director, WPM, said: “As trusted partners of public and private sector clients, we have tracked the UAE’s investment story for years, and the pattern is unmistakable. The country has positioned itself at the front of the race for capital. What we set out to map in this paper is the harder, more valuable contest: converting investment into skills, technology, and economic velocity. It reflects what we do at White Paper Media, turning complex evidence into decisions leaders can act on.”
Dr. Joachim Arnold, CEO of OCO Global, which advises governments and businesses on attracting FDI, building competitiveness, and strengthening economic resilience, and contributed to the study, said: “The UAE’s infrastructure, free zones, and business-friendly environment helped attract companies and drive growth. The National Investment Strategy 2031 signals a more deliberate focus on investment that raises productivity and embeds benefits into the wider economy. The question is no longer only how to attract capital, but how investment creates lasting value, strengthens existing companies, and helps domestic businesses upgrade their capabilities.”
The paper highlights live examples of this transition already underway, among them the Space42 and ICEYE joint venture building satellites on UAE soil, Microsoft’s $15.2 billion investment plan with a commitment to skill one million people, and the UAE’s $30 billion pledge to the Alterra climate fund.
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