The Hong Kong Monetary Authority (HKMA), Hong Kong Exchanges and Clearing Limited (HKEX), the Dubai Financial Services Authority (DFSA), and Nasdaq Dubai jointly announced the establishment of a Strategic Working Group. The Strategic Working Group aims to strengthen the ties between the financial markets of Hong Kong and the Dubai International Financial Centre (DIFC).
The Strategic Working Group brings together exchanges and regulators in Hong Kong and DIFC to explore opportunities and develop collaborative initiatives, including sustainable finance, Islamic finance, as well as broader capital markets development.
The announcement was made during the HKMA-DFSA Joint Climate Finance Conference in Hong Kong.
Eddie Yue, the Chief Executive of the HKMA, shared,
“By developing this collaboration mechanism, we are establishing a dedicated platform to better understand and align strategic priorities, as well as exploring new initiatives to facilitate smoother trade and investment between Asia and the Middle East.”
Mark Steward, the Chief Executive of the DFSA, added,
“This initiative reflects the maturing of our shared commitment to collaboration, knowledge sharing, and the discovery of greater mutual benefits within the Dubai-Hong Kong corridor.”
Bonnie Y Chan, the CEO of HKEX, also said that Hong Kong and Dubai shared complementary strengths that could help enable the two-way flow of capital, ideas and opportunities between the two regions.
Hamed Ali, the CEO of Nasdaq Dubai and Dubai Financial markets, elaborated, saying that Nasdaq Dubai’s position as a international hub for fixed income and Islamic finance listings provides a platform to connect issuers and investors across the Middle East and Asia, particularly in Sukuk and sustainable finance.
Through ongoing engagement and structured collaboration, the participating organisations will exchange insights on market developments and discuss emerging opportunities and challenges.
Featured image edited by Fintech News Hong Kong based on an image by HKMA