His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Higher Committee for the Development of the Economic and Financial Sector in Dubai, chaired a meeting in which he approved the Dubai Financial Sector Strategy (DFSS).
The DFSS is a comprehensive roadmap designed to solidify Dubai’s position as a leading global financial hub, with key goals to double its contribution to the emirate’s GDP and grow the size of assets under management in Dubai.
Sheikh Maktoum reviewed Dubai Financial Market’s (DFM) performance in 2025 and the plans by Dubai’s Virtual Assets Regulatory Authority (VARA) to develop the sector.
His Highness also highlighted the fact that Dubai has emerged as the world’s single largest licensed Virtual Assets (VA) market, with year-to-date transaction volumes across regulated entities under the Virtual Assets Regulatory Authority (VARA) estimated at nearly AED2.5 trillion (USD680 billion).
The meeting discussed mechanisms for implementing the strategy through transformative projects and the development of a robust economic measurement system in Dubai. The meeting also reviewed the executive plan for ARENA, the initial private offering platform launched by the DFM.
The Dubai Financial Sector Strategy will roll out 15 transformative programmes over the next three years to drive growth and shape the future of global finance. The projects will focus on critical areas such as capital markets, asset and wealth management, SME financing, virtual assets, and FinTech.
Sheikh Maktoum commented: “This strategy represents a major step for Dubai’s financial sector. Plans to launch 15 transformative programmes over the next three years aim to establish an innovative and sustainable financial ecosystem. This will create promising opportunities for investors, bolster their confidence in Dubai’s business environment, and advance our ambition to cement the emirate’s status as the world’s premier destination for financial services.”
He also commended DFM’s achievements and called for the continued development of the capital markets in accordance with the highest international standards to create an optimal environment for both local and international investors. He commended the pivotal role of VARA in enhancing transparency and solidifying Dubai’s standing as a global hub for virtual assets.
The DFSS aims to boost market activity by encouraging the listing of more family businesses and startups. Simultaneously, it will foster growth in the asset and wealth management sector by developing legislation and policies that attract new asset managers and family businesses.
The strategy also focuses on enhancing the role of small and medium enterprises in the national economy by developing innovative financing models that expand access to capital, ensuring the sustainability of SMEs and increasing their contribution to GDP.
The strategy was announced as Dubai leapt five places to 11th position worldwide in the latest Global Financial Centres Index (GFCI) this year. According to the Index, Dubai leads all global financial centres in future growth potential and is projected to gain significantly over the next two to three years.
Dubai virtual assets sector
Sheikh Maktoum was updated on the significant progress made by VARA in establishing Dubai as a premier global hub for virtual assets and related services.
While year-to-date VA transaction volumes across regulated entities under VARA surged to nearly AED2.5 trillion, assets under management exceeded AED9.6 billion in 2025, driven by the increasing participation of large institutional players.
The virtual assets sector is estimated to contribute a conservative 0.5 per cent to Dubai’s GDP, equivalent to approximately AED2.2 billion (US$600 million). Under the regulated VARA regime, the ecosystem is expected to scale responsibly and reach an estimated 3 per cent of the GDP, or approximately AED13 billion (US$3.54 billion).
Dubai currently hosts over 40 licensed virtual asset service providers (VASPs), making it the single largest licensed market of its kind globally. In addition to the licensed entities, there are more than 600 registered service providers engaged in advisory, technology, or proprietary trading activities.
DFM market cap crosses AED1 trillion
The DFM General Index has surged 14.7 per cent this year, making it one of the world’s best-performing financial centres and marking its highest level since 2008. Total market capitalisation reached AED1 trillion (US$270 billion) in 2025.
The Higher Committee for the Development of the Economic and Financial Sector aims to endorse high-level economic and financial policies and strategies that support the realisation of the Dubai Economic Agenda D33.
It also monitors and anticipates future opportunities and challenges which can impact economic and financial sectors, framing appropriate recommendations to address them. These efforts aim to ensure the long-term success of strategic goals in coordination with relevant stakeholders.
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