IslamicFinance.de

The region's thriving asset management sector saw a further addition towards the end of last year with the launch of Abu Dhabi Global Market (ADGM). The new financial centre is likely to mark a bold step for the emirate's plans to attract new firms and develop the local asset management sector. As the UAE's richest emirate, Abu Dhabi is already home to a large number of wealthy investors and a thriving financial services community. Despite the close proximity of northern neighbour Dubai's highly successful DIFC, industry participants have welcomed the addition of the ADGM to the region. Abu Dhabi is home to the region's largest sovereign wealth fund (SWF) in the Abu Dhabi Investment Authority, and a number of other multi-billion dollar funds also call the emirate home.