UAE Emerges as Economic Leader in MENA Region, Says LSE Deputy CEO

UAE, 24 October, 2024 : Charlie Walker, Deputy CEO of the London Stock Exchange (LSE), has highlighted the UAE's emergence as a leading economic powerhouse in the Middle East and North Africa (MENA) region, particularly in the bond issuance market. During his visit to Abu Dhabi, Walker noted that the UAE accounts for about 39% of total bond issuances in the region, having completed 37 bond issues worth approximately $18.51 billion this year alone.

Walker attributed this success to strong government policies and strategic partnerships with global entities like the London Stock Exchange Group (LSEG). He emphasized that the partnership with the Abu Dhabi Securities Exchange (ADX) aims to enhance the financial infrastructure of the UAE, providing a robust platform for companies to access global capital markets.

The recent launch of the FTSE ADX ESG Index demonstrates the UAE's commitment to responsible investment practices, aligning portfolios with global environmental and social governance objectives. Walker stated that the LSE has become instrumental in financing ambitious projects in renewable energy and infrastructure, citing Masdar’s recent $1 billion green bond issuance as an example of the UAE’s dedication to sustainability.

He also noted the remarkable growth in financial issuances in the region, with Sukuk issuances in the Middle East reaching approximately $80 billion, reinforcing the UAE's role as a key player in sustainable finance.

Source : www.zawya.com