Global financial market leaders representing sectors including FinTech, venture funding and investments, plus asset management and capital markets will take part in the inaugural Abu Dhabi Finance Week next month.
FinTech Abu Dhabi Festival, which was held independently in the capital until last year, will now form part of the ADFW, which will be held from November 14 to November 18.
Among executives who have participated in the previously held FinTech Abu Dhabi Festival are John Collison, co-founder of the $95 billion digital payments start-up Stripe, and New York Stock Exchange chairman Jeff Sprecher, Abu Dhabi Global Market said on Monday.
“ADFW plays the role of an innovative platform, convening the leadership of the global financial markets to engage, connect and collaborate on various facets of change we are witnessing, while bolstering Abu Dhabi’s position as a leading international financial hub,” ADGM chairman Ahmed Al Zaabi said.
“The cross-border attention garnered by Abu Dhabi from the global financial community and the global reach established by the investment landscape in the Emirate is gradually leading it to be recognised as the ‘capital of capital’.”
This year's additions include Crypto Abu Dhabi, Start-up Campus, the Race (Regulation, Awareness, Collaboration, Ecosystem) sustainability summit and Asset Abu Dhabi, which will host about 300 senior investors from 30 countries, with more than $4 trillion of assets under management, ADGM said.
The ADFW takes place as the UAE capital takes various measures to diversify its economy away from oil and support new investment in industries, FinTech and other sectors.
Abu Dhabi plans to invest Dh10bn ($2.72bn) across six industrial programmes to more than double the size of the emirate’s manufacturing sector to Dh172bn by 2031, officials said earlier this year.
It is also planning to launch a strategy for blockchain and virtual assetsto support its digital economy.
In August, ADGM and the Abu Dhabi Residents Office also signed a preliminary agreement that aims to encourage more investments and retain talent in the capital.
“From global shifts in monetary and fiscal policies, stock markets and valuations, digital currencies, public and private equity, green financing, financial inclusion and financial regulations … this platform will work to thoroughly address and critique current financial and economic headwinds,” Mohamed Al Shorafa, chairman of the Abu Dhabi Department of Economic Development, said.