Dubai Stockbrokers and Investment Services Group emerges

4

Dubai Stockbrokers and Investment Services Group emerges under Dubai Chamber of Commerce’s’ Business Groups

The official launch of the Dubai Stockbrokers and Investment Services Group (DSIG)comes as the market capitalisation of Arab stock exchanges exceeded US$4.36 trillion at the end of April 2024, according to the Arab Monetary Fund. DSIG is one of the 105 Business Groups that operate under the umbrella of Dubai Chamber of Commerce to help drive greater economic opportunities within the UAE and beyond

Dubai(News Desk)::Dubai Chamber of Commerce’s stockbrokers and investment services community officially launched Dubai Stockbrokers and Investment Services Group on May 23, 2024. The launch follows the announcement of the group last year – as part of Dubai Chamber of Commerce’s drive to represent the
interests of the emirate’s private sector and ensure companies operating across diverse industries can
play a greater role in Dubai’s economic growth.
The Dubai Stockbrokers and Investment Services Group (DSIG) is one of the 105 Business Groups and more than 50 Business Councils that operate under the umbrella of Dubai Chamber of Commerce, one of the three chambers under Dubai Chambers. Sector-specific Business Groups and country-specific Business Councils advance the interests of Dubai’s dynamic business community, empowering companies to explore greater economic opportunities in the UAE and beyond – and play a greater role in the global economy.
Sameera Fernandes, Chief Sustainability Officer and Board Member of Century Financial, has been
elected Chairwoman of DSIG while Mostofa Elchiati, Kinly Nassour, Ahmed Al Salami, and Damodhar Mata have been elected DSIG’s Vice-Chairman, Secretary-General, Treasurer, and Director of Membership & Marketing, respectively. The launch of the DSIG, which was attended by Maha Al Gergawi, Vice-President of Business Advocacy at Dubai Chambers and Omar Khan, Head of the Centre for Business Studies and Research at Dubai Chambers, supports the Chamber’s vision to accelerate the economic growth in the emirate by enhancing the role of Business Groups and Business Councils.
Stockbrokers, investment advisors, fund managers, wealth managers and private equity managers play a
significant role in the growth of the stock market and the overall economy. Data from the Abu Dhabi and
Dubai markets shows that institutional investors had purchased Dh302.7 billion worth of stocks from
January to December 2023, compared to total sales of approximately Dh295.8 billion.
The launch of the DSIG comes when the market cap of Arab stock exchanges exceeded US$4.36 trillion
at the end of April 2024, according to the Arab Monetary Fund (AMF). The launch saw the presence of
industry leaders who felicitated DSIG’s vision of shaping a prosperous financial future through cutting-
edge technologies, ethical practices, and global collaboration.

DUBAI STOCKBROKERS AND INVESTMENT SERVICES GROUP

Essa Abdulla Al Ghurair, Chairman, Essa Al Ghurair Investment LLC, lauded the initiation of the group, expressing his expectations of DSIG’s catalytic role in realising the Dubai Economic Agenda (D33) announced by the Dubai Government, saying, “I commend the Dubai Stockbrokers and Investment
Services Group’s vision to sustainably impel Dubai’s growth. Dubai’s meteoric rise is attributed to two key
values, trust and transparency. By adopting these values, DSIG will be pivotal in doubling the city’s GDP
by 2033 under the D33 agenda.”
The UAE has emerged as a key driver of the financial upswing in Arab stock markets, contributing
significantly to the collective gains. The UAE added an impressive US$117.5 billion to its market value,
reaching a substantial US$990.6 billion by the end of 2023. Both the Abu Dhabi Securities Exchange
(ADX) and the Dubai Financial Market (DFM) played pivotal roles. ADX contributed US$88.8 billion,
soaring to US$803.4 billion. Meanwhile, DFM witnessed a US$28.7 billion increase, elevating its total
market value to US$187.2 billion.
DSIG acts as a platform for secured investment. Coupled with innovation and sustainability, the Business
Group will not only implement ideas, but also empower people through its educational programmes.
Poised to become the leading business group in the Middle East, DSIG is committed to facilitate more
cross-border investments and market expansion.
Sameera Fernandes, Chairwoman of DSIG, said, “DSIG has been founded to come up with innovative
and sustainable solutions that will bolster Dubai’s growth as a secure global financial capital. Our
expansive mission to promote sustainable investment, foster innovation in financial services, and
empower a robust investment community, as well as staunchly commit to ethical standards and integrity
is strongly driven by our initiatives that promote financial literacy. These initiatives include mentorship
programmes, technology and innovation hub, and support for international expansion among others.”
As part of its efforts to continuously engage with the global investment community, DSIG also revealed
plans to hold an annual investment summit, where members can network, address prevalent challenges,
and brainstorm solutions.

The 29 brokerage firms operating in the Dubai Financial Market executed over 3.83 million transactions in 2023, a 32.7 percent increase compared to 2022’s 2.88 million. Foreign and regional institutional investors have led a significant surge in net stock purchases, amounting to Dh7 billion ($1.91 billion) year-to-date in the Abu Dhabi and Dubai markets.
The event also explored the future of investments, highlighting sustainable investment as an inevitable
trend in the financial realm. Habiba Al Mar’ashi, Co-founder and Chairperson of Emirates Environmental Group, said, “After delving deep into sustainable investments in 2019, I have discovered many gaps that must be bridged to promote sustainable investment. Pioneers in the field should realise the lack of awareness among institutions and improve their financial literacy.
“This can be achieved through fruitful collaboration among government entities, the private sector, and
educational institutions. In fact, the private sector should potentially lead sustainable development,

 

Leave A Reply

Your email address will not be published.