Dubai advances financial competitiveness with strategic gold sector expansion
Sheikh Maktoum bin Mohammed chairs economic review highlighting Dubai's ascent in global financial rankings and unveiling a comprehensive strategy to reinforce the emirate's position as a premier international gold trading hub.
Dubai continues to strengthen its standing as a leading global financial centre, according to a comprehensive economic review chaired by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai and Deputy Prime Minister. The meeting of the Higher Committee for the Development of the Economic and Financial Sector examined key performance indicators and strategic initiatives to sustain the emirate’s competitive advantage across multiple sectors.
Financial sector achievements reflect Dubai’s remarkable trajectory. The emirate now ranks first globally in FinTech on the Global Financial Centres Index, a substantial rise from fifth position in March 2026. Professional Services advanced to second globally, rising from fourth place, whilst reputation improved to sixth from eighth. Dubai has maintained its leading position among financial centres anticipated to gain significance over the coming two to three years, demonstrating enduring international confidence in the emirate’s economic resilience.
The virtual assets sector demonstrates particularly robust growth. Licensed Virtual Asset Service Providers under the Virtual Assets Regulatory Authority now number 52, managing AED28 billion in assets. Over the past twelve months, trading volumes among licensed providers reached approximately AED7.43 trillion, underscoring the sector’s expansion and Dubai’s sophisticated regulatory framework.
Dubai Financial Market indicators reveal sustained momentum, with market capitalisation reaching AED993.1 billion by the end of the third quarter of 2026. Average daily trading values surged 24.5%, whilst institutional trading represented 71 per cent of total trading value. The market attracted 55,462 new investors during the first nine months of 2026, with international investors comprising 72.1 per cent of new entrants, reflecting the market’s global appeal.
The Dubai International Financial Centre reinforces its position as a premier business platform, hosting over 10,000 active registered companies including 592 wealth and asset management firms and 1,933 FinTech enterprises, alongside the region’s largest concentration of hedge funds.
Complementing financial sector advancement, Dubai is pursuing an ambitious strategy to consolidate its position as a leading global hub for gold. Foreign gold trade reached approximately AED1 trillion in 2025, a 60 per cent year-on-year increase. The UAE’s physical gold trading volume of around 2,750 tonnes places the nation second globally, with an estimated 13–15 per cent of worldwide traded gold transiting through Dubai annually.
The comprehensive Dubai Gold Strategy encompasses six strategic directions: expanding integrated global market trading; strengthening gold financing capabilities; establishing Dubai as a trusted storage centre; advancing traceability and transparency standards; supporting price discovery mechanisms; and reinforcing the emirate’s jewellery retail prominence. A dedicated committee, chaired by His Excellency Abdulla bin Damithan, will oversee strategy implementation, coordination with relevant stakeholders, and the establishment of a clear execution roadmap.
Source: WAM