The chairman of Abu Dhabi Global Market, Ahmed Al Sayegh, says there is room for two financial free zones in the UAE to service the broader region.
“Discussions are under way with global giants of the financial sector,” Mr Al Sayegh said yesterday.
“Overall, we are pleased to share that there is already support for this initiative. Furthermore, there is an understanding that we have an opportunity to leverage the strengths of Abu Dhabi and the UAE.”
In May last year, Abu Dhabi revealed plans for a financial free zone similar to Dubai’s with its own court system and tax incentives to encourage international investment banks to set up shop in the capital.
The Abu Dhabi Global Market will be located on Al Maryah Island.
halsayegh@thenational.ae
mkassem@thenational.ae
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