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Abu Dhabi's ADGM Financial Center to Expand by Ten Times its Current Size

Abu Dhabi's ADGM Financial Center to Expand by Ten Times its Current Size
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Abu Dhabi's ADGM Financial Center to Expand by Ten Times its Current Size

Abu Dhabi's ADGM Financial Center to Expand by Ten Times its Current Size

Abu Dhabi Global Market (ADGM) will expand its area of jurisdiction to ten times its current footprint, it said on Monday, part of Abu Dhabi's plans to diversify by making its financial sector a major contributor to the economy.

ADGM, a financial free zone and the international financial center of the United Arab Emirates capital Abu Dhabi, will add al-Reem Island to its current location on al-Maryah Island.

ADGM said the expansion would create one of the largest concentrated financial districts in the world, with an area of 1,438 hectares.

Since its founding in October 2015, ADGM has 5,500 business licenses operating within it, it said.

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Saudi EXIM Bank Signs MoU with Credit Oman to Boost Bilateral Exports

The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA
The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA
TT
20
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Saudi EXIM Bank Signs MoU with Credit Oman to Boost Bilateral Exports

The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA
The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA

CEO of Saudi EXIM Bank, Eng. Saad bin Abdulaziz AlKhalb and CEO of Credit Oman, Khalil bin Ahmed Al Harthy signed a memorandum of understanding (MoU) to promote cooperation in supporting joint projects, facilitating exports, and exchanging expertise, thereby contributing to the empowerment of non-oil exports and strengthening economic and trade ties between the two countries.

This came on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12.

EXIM participated as a sponsor of the conference to enhance the bank’s role in global trade and establish strategic partnerships to support the growth and competitiveness of Saudi non-oil exports in international markets, according to SPA.

Engineer Al-Khalb also participated in a panel session during the conference alongside a distinguished group of leaders, decision-makers, and export credit experts to discuss ways to foster international trade cooperation. He affirmed that Saudi EXIM Bank is a reliable partner in the global trade ecosystem, noting that the bank’s establishment is part of the Kingdom’s broader economic transformation.

He pointed out that the bank has provided credit facilities amounting to USD 22 billion since its inception and emphasized that the bank’s A+ credit rating from Fitch Ratings will significantly impact its operations and those of its clients and partners both locally and globally. He added that the bank’s strategy is focused on building strategic pathways for local exporters.