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Post: “Arab Currency”: “Abu Dhabi Financial” is the highest among Arab markets


Abu Dhabi (Al Ittihad)

The Arab Monetary Fund confirmed that the Abu Dhabi stock market was the largest Arab financial market in terms of market capitalization during 2021, rising by around 119%, according to the Fund’s recently released Unified Arab Economic Report 2022. The report reveals that, in the same year, the listing of shares by Alpha Abu Dhabi Holding and Al Yah Telecom, Yahsat’s satellite, contributed significantly to the increase in the market value of companies listed on the Abu Dhabi Stock Exchange. .
The report says that most Arab exchanges posted significant gains in 2021 after a wave of losses in 2020, explaining that the Abu Dhabi Stock Exchange Index posted a record gain of around 68.24% to close at 8,488 points in 2021, vs. In the context of improving oil prices and several leading listed companies and improving the financial performance of most listed companies, especially leading companies, and the organization and hosting of Expo activities by the UAE. A plan to develop the capital market and increase liquidity, in addition to the UAE’s fifty-year plan, which took major investment initiatives to develop the community and strengthen the competitiveness of the economy, which acted as a catalyst for Performance. shares in Abu Dhabi. handbag.

positive performance
The report indicated that the performance of Arab financial markets was significantly more positive than in 2021, as the total market cap of Arab financial markets increased by around 18.2%, or around US$587.5 billion, bringing this value to around $3.807 billion at the end. . . This value was estimated at US$ 53 billion in 2021 compared to the improvement seen in the previous year.
He added: By 2021, the significant increase in the market value of all Arab stock exchanges has mainly contributed to the listing of shares of various companies, especially the international water and energy company “ACWA Power” in the financial system. The market and the two companies “Alpha Abu Dhabi” and “Yahsat” of the Abu Dhabi Stock Exchange, in addition to the recovery of the economic sectors of the Arab countries and the increase in the average oil price, absorbed most of the economy. Consequences of the corona pandemic.

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Industrial Areas
In this sense, the United Arab Economic Report 2022 of the Arab Monetary Fund confirms the role of cities and industrial zones in achieving sustainable industrial development in Arab countries and explains that the city of Dubai is considered one of the smart ones. And technology cities that started to grow as a free economic zone, from a small city, limited in population, thanks to economic policies, good management and hard work, to become the newest, fastest and richest Arab city. Attracting foreign trade and investment as the city has become the region’s most important commercial, financial and service center and an important international hub for the exchange of goods and tourism, and has become a global city supplying hundreds of thousands of work equipment and finds the most recent experience. , experience and knowledge that has been dedicated to regional and international trade and service center.
According to him, the United Arab Emirates includes around 37 free zones, of which 23 are in Dubai, and acquire 39% of exports from the United Arab Emirates, and there are more than 38,000 companies with 330,000 workers and employees, and this contributes with around 30% of the total. national product and achieves excellent economic results, as the city’s GDP in 2018 was around 107 billion dollars, the highest economic growth rate in the region, exceeding 6% per year.
According to the results of the Industrial Performance Competitiveness Index of the United Nations Industrial Development Organization (UNIDO), the UAE is the country that improved the most in 2021, having risen five places compared to the previous year thanks to the best. In the areas of indicators related to the use of infrastructure, industrial business environment and high-tech products.

banking sector
The report confirmed the improved performance of the Arab banking sector during 2021 compared to the previous year, as data collected by Arab banks showed an improvement in each of total denominated assets, total deposits, loans, facilities and bases. . USD.
The net income of UAE banks was AED 9.945 billion in 2021, up from AED 5.633 billion in 2020, an increase of 76.5%.

Source: Al Ittihad

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