Abu Dhabi, UAE: The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has today published its Business Plan for 2024. This comprehensive plan outlines the FSRA's regulatory priorities, offering valuable insights into the areas of focus for the upcoming year. It encompasses all aspects of the FSRA's operations, ranging from authorisation and supervision to enforcement, and highlights the development of its legislative agenda.
Notably, this plan underscores the roles of the FSRA and ADGM in the UAE’s ongoing efforts to discourage, detect, and prevent financial crime.
An essential component of the Business Plan is the FSRA’s fostering of continuous engagement with stakeholders, locally and internationally. This commitment includes active collaboration with national and international organisations and promoting flagship events such as Abu Dhabi Finance Week. Additionally, the plan demonstrates the FSRA's forward-looking approach to staff development and the promotion of financial literacy, in the UAE and the region.
Emmanuel Givanakis, Chief Executive Officer of the FSRA, said “The Business Plan outlines our strategy and priorities for 2024, through facilitating traditional and emerging activities in the financial services sector and focussing on our continuing development of our regulatory framework in the areas of sustainable finance and digital assets. Innovation is a cornerstone of our ongoing and future plans, in order to enhance the regulation and supervision of financial services and make it more effective and efficient in terms of our own operations and for the benefit of firms operating in the sector and their customers. This innovation is made possible through our positive engagement with stakeholders to ensure we have a comprehensive, progressive regulatory framework and a strategic approach that is relevant to the financial services sector, both currently and in future, whilst ensuring we maintain international standards”.
For the Business Plan [see here].
About Abu Dhabi Global Market (ADGM)
Abu Dhabi Global Market (ADGM) is the international financial centre (IFC) of the capital city of the United Arab Emirates, which opened for business on 21st October 2015. ADGM augments Abu Dhabi’s position as a leading financial centre and a business hub serving as a strategic link between the growing economies of the Middle East, Africa, South Asia and the rest of the world.
Operating within an international regulatory framework based on direct application of The English Common Law, ADGM governs the entire Al Maryah Island and Al Reem Island which is designated as the financial free zone of Abu Dhabi.
ADGM is ranked as one of the most preferred top IFCs in the Middle East and Africa region and named MENA’s largest Fintech hub. Its progressive and inclusive business ecosystem gravitates toward global financial and non-financial institutions while leveraging synergies between ADGM and multiple jurisdictions positioned as one of the world’s most advanced, diverse and progressively governed financial hubs.
For more details on ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adglobalmarket and LinkedIn: @Abu Dhabi Global Market (ADGM)
For media queries please contact:
Head of Middle East
Corporate Communications, ADGM