February 23, 2026
Methodology About Newsletter
WE THE UAE 2031
The Vanderbilt Terminal for the UAE's National Transformation
INDEPENDENT GLOBAL INTELLIGENCE FOR THE UNITED ARAB EMIRATES
UAE GDP: AED 2.03T ▲ 5.7% | Non-Oil GDP Share: 84.3% ▼ -5.2pp | FDI Inflows: $45.6B ▲ 48.7% | GDP Growth: 4.0% ▲ -0.3pp vs 2023 | Inflation: 1.7% ▼ +0.0pp vs 2023 | Female Participation: 55.1% ▲ +0.6pp vs 2023 | Population: 11.0M ▲ 4.8% | Emiratisation Rate: 12.5% ▲ 2.1pp | Global Competitiveness: #7 ▲ 3 places | Clean Energy Capacity: 7.2 GW ▲ 18.4% | ADX Index: 9,842 ▲ 4.7% | DFM Index: 4,621 ▲ 6.2% | UAE GDP: AED 2.03T ▲ 5.7% | Non-Oil GDP Share: 84.3% ▼ -5.2pp | FDI Inflows: $45.6B ▲ 48.7% | GDP Growth: 4.0% ▲ -0.3pp vs 2023 | Inflation: 1.7% ▼ +0.0pp vs 2023 | Female Participation: 55.1% ▲ +0.6pp vs 2023 | Population: 11.0M ▲ 4.8% | Emiratisation Rate: 12.5% ▲ 2.1pp | Global Competitiveness: #7 ▲ 3 places | Clean Energy Capacity: 7.2 GW ▲ 18.4% | ADX Index: 9,842 ▲ 4.7% | DFM Index: 4,621 ▲ 6.2% |

Definition

The Dubai Financial Market (DFM) is the official stock exchange of the Emirate of Dubai, established in 2000 as a public institution and later converted into a public joint-stock company in 2006. DFM was notably the first exchange in the region to be publicly listed, with its own shares traded on the exchange. It is recognized as the world’s first exchange to operate fully in compliance with Islamic Sharia principles, providing a platform for equities, sukuk, bonds, and other instruments.

UAE Context

DFM serves as the primary marketplace for Dubai-based companies across real estate, banking, insurance, telecom, and consumer sectors. Major listed companies include Emaar Properties, Emirates NBD, Dubai Islamic Bank, and du (EIAST). The exchange has experienced significant growth cycles tied to Dubai’s real estate and financial services sectors. DFM’s Sharia-compliant operating model attracts Islamic investment flows from across the Gulf and broader Muslim-majority economies, reinforcing Dubai’s role as a global Islamic finance centre.

Key Data

  • Established: 2000
  • Self-listed: 2006 (first publicly traded exchange in the region)
  • Key listings: Emaar Properties, Emirates NBD, Dubai Islamic Bank, du
  • Index: DFM General Index (DFMGI)
  • Regulator: Securities and Commodities Authority (SCA)
  • Distinction: World’s first fully Sharia-compliant exchange

Significance for Vision 2031

DFM plays a central role in Dubai’s capital markets development strategy and the broader D33 economic agenda. Government initiatives to encourage further IPOs of state-linked entities and private companies aim to deepen market liquidity, diversify the listed base, and attract foreign portfolio investment. A vibrant DFM supports the UAE’s goal of building a self-sustaining, diversified economy with deep and efficient capital markets.