Abu Dhabi: Building a Gateway to the World | H.E. Ahmed Al Sayegh & Martin Edelman | Summary and Q&A

TL;DR

Abu Dhabi Global Markets (ADGM) is an international financial center that aims to cater to the financial needs of Abu Dhabi by offering a conducive business environment and attracting foreign investments.

Key Insights

• 🌍 ADGM aims to meet the financial needs of Abu Dhabi by becoming an international financial center.
• 👨‍💼 ADGM operates under English common law, which provides a conducive business environment.
• 🐕‍🦺 The Catalyst Fund and Hub 71 are initiatives introduced by ADGM to attract financial services entities and startups.
• 🌍 ADGM has successfully attracted international investors, such as Intercontinental Exchange, to establish an exchange for pricing crude oil.
• ⚖️ The leadership in Abu Dhabi prioritizes stability, moderation, and a balance between modernity and tradition.
• 👶 Abu Dhabi's leadership welcomes new ideas and focuses on the development of a moderate and tolerant society.
• 🏛️ Abu Dhabi's vibrant economy has been built on the foundation of leadership, talent, and diversification.

Transcript

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Questions & Answers

Q: How does ADGM operate as an international financial center?

ADGM operates around three independent authorities that function under English common law. The Financial Regulator is responsible for granting financial licenses, while a common law court handles dispute resolution. Registration in ADGM is conducted seamlessly through an online platform.

Q: What initiatives has ADGM implemented to attract businesses?

ADGM has introduced the Catalyst Fund, which offers seed funding to well-established financial services entities looking to establish a presence in ADGM. Additionally, Hub 71 provides a supportive environment for startups, offering financial and infrastructural support.

Q: How is ADGM transforming the oil and gas industry?

ADGM has attracted Intercontinental Exchange (ICE), along with other international investors, to set up an exchange for pricing crude oil. This decision is significant for Abu Dhabi's national oil company and marks a historical development in the region.

Q: How does the leadership in Abu Dhabi contribute to its success as a gateway to the region?

The leadership in Abu Dhabi is open to new ideas, emphasizes stability and moderation, and prioritizes the balance between modernity and tradition. Their welcoming attitude and focus on stability contribute to Abu Dhabi being a preferred gateway to the region.

Summary & Key Takeaways

• Abu Dhabi has established itself as a vibrant member of the world economy through exceptional leadership and is now focusing on growing its economy through Abu Dhabi Global Markets (ADGM).

• ADGM aims to service the financial needs of Abu Dhabi, including its sovereign wealth funds, banks, and national oil company, while also attracting international financial transactions.

• ADGM operates under English common law, with an efficient and dynamic Financial Regulator, a common law court, and a seamless online registration system.