Building a Global Financial Hub From Scratch: Abu Dhabi’s ADGM

Episode description:

John is joined by Emmanuel Givanakis, the CEO of Abu Dhabi Global Markets Financial Services Authority (ADGM).  They discuss the growth of the ADGM as a leading international financial center based on its unique structure as an independent free zone within Abu Dhabi in which English common law directly applies and judges from the UK and other common law countries hear cases in an independent common law court.  They discuss the role the ADGM plays in diversifying Abu Dhabi’s economy away from the oil and gas industry, the importance of providing legal certainty to attract investors, and how the ADGM  chose aspects of corporate, insolvency and financial services legislation from the UK, Australia and international financial regulatory groups to craft its own financial legislation that reflected international “best practices” that would be familiar to investors from any continent.  They also discuss how the ADGM has implemented legislation regarding FinTech, digital assets and carbon markets and how AI can promote regulatory compliance.  Finally, they discuss challenges the ADGM may face in the future including the possibility of a global recession, geopolitical issues in the region, as well as the importance of allowing capital to move freely into and out of the region.

Published: Jan 12 2024