The next best in the Dubai Financial Market

The next best in the Dubai Financial Market
The next best in the Dubai Financial Market

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His Highness Sheikh Maktoum bin , Deputy Ruler of , Deputy Prime Minister and Minister of Finance, praised the results of the Dubai Financial Market Company for its performance during the past year, following the development that began in late 2021, describing the rise of the general index of the market as The highest annual rise in eight years.

His Highness wrote through his official account on Twitter yesterday: “The Dubai Financial Market Company announced today the results of 2021.. Since we began in the fourth quarter to develop our financial market, the profits of the fourth quarter have increased by 269% over the previous year.. The general index recorded the highest annual rise since 2013 by a percentage 28%..the total number of investors rose to reach 852,000 investors..and the future is better, God willing.”

In detail, the Dubai Financial Market Company announced its consolidated financial results for the fiscal year ending on December 31, 2021, where the net profit amounted to 103.8 million dirhams, and the total revenue amounted to 294.6 million dirhams. Revenues were distributed at 213 million dirhams from operations and 81.6 million dirhams from investments and others.

The Dubai Financial Market Company has succeeded in reducing its total expenses by 4%, equivalent to 8.5 million dirhams during 2021, to 190.8 million dirhams, compared to 199.3 million dirhams in 2020, which reflects the success of efforts aimed at raising spending efficiency.

big jump

With regard to the fourth quarter of last year, net profits recorded a significant jump of 269% to 65.7 million dirhams, compared to 17.8 million dirhams in the corresponding quarter of the previous year, and revenues increased 68% to 111.5 million dirhams, compared to 66.2 million dirhams, and net profits amounted to 103.8 million dirhams, compared to 137.9 million dirhams, while total revenues amounted to 294.6 million dirhams, compared to 337.2 million dirhams.

The company’s board of directors discussed, during its meeting the day before yesterday, the 2021 financial statements, and approved them, in preparation for presenting them to the annual ordinary general assembly that will be held after the approval of the Securities and Commodities Authority. While the Board recommended the distribution of cash dividends to shareholders of 3% of the capital, equivalent to 240 million dirhams.

A new start

Commenting on the most prominent business developments and achievements made by the market last year, Hilal Al Marri, Chairman of the Board of Directors, said: “2021 marks a new start for the Dubai Financial Market, which has a path full of success, and there is no doubt that our confidence in the future prospects of the market and its ability to achieve sustainable growth is beyond limits. Limits in light of the great support of the wise leadership and the various initiatives announced in the past few months by the Supreme Committee for the Development of Financial Markets in Dubai.

Moreover, this confidence is also derived from the strong foundations of the market, as the latter possesses a world-class infrastructure and organizational structure, institutional excellence and high competitive capabilities that collectively qualify it to enhance and sustain its growth and its outstanding contribution to the consolidation of Dubai’s position as a global center for capital markets.”

encouraging signs

Al Marri continued: “The general index recorded a 28.2% increase, which is the highest annual rise rate for the index since 2013, and the total value of trading increased by 10.2%, compared to its levels in 2020 to 72.3 billion dirhams, and the total market value of the listed securities increased 21% to 411 billion dirhams.

The market ended last year strongly, as the total value of trading during the last quarter recorded 126%, an increase to 33.6 billion dirhams, which represents 46.5% of the total trading value in 2021, which is attributed to the steady improvement in the performance of the national economy, and the encouraging numbers in many major economic sectors , such as: tourism and real estate, in addition to the performance of listed companies, all of which are supportive of market performance, crowned by the striking positive repercussions of the announcement of the strategic plan for the development of financial markets in Dubai.

large foreign presence

While foreign investors maintained their large presence in the Dubai Financial Market in 2021, they acquired 45.8% of the trading value at 1.9 billion dirhams (purchase proceeds), and their ownership recorded 22.5% of the total market value of the shares listed on the market. The share of institutional investment from trading amounted to 45.8%, with a net investment of 656 million dirhams (purchase proceeds).

While the market attracted 7,342 new investors, including 677 investment institutions, bringing the total number of investors registered in the Dubai Financial Market by the end of 2021 to 852,212 investors belonging to 209 nationalities. Foreigners constituted 63% of the new investors (4626 investors).

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I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]