Hong Kong, Dubai Form Working Group on Financial Connectivity

Hong Kong's stock exchange announced Thursday it will establish a strategic working group with regulators from the Hong Kong Monetary Authority, the Dubai Financial Services Authority, and Nasdaq Dubai. The group aims to enhance financial market connectivity between Hong Kong and the Dubai International Financial Centre. Members stated they will focus on sustainable finance, Islamic finance, innovation, capital markets development, and direct market links. Hamed Ali, CEO of Nasdaq Dubai, highlighted the platform's ability to connect issuers and investors across Asia and the Middle East, specifically in Sukuk and green finance. Sukuk are Sharia-compliant instruments that provide asset ownership rather than debt obligations. In October, HKEX launched a new unit in Dubai to expand its commodities business. Bonnie Y Chan, CEO of HKEX, noted this commitment to strengthening the corridor between Hong Kong and the UAE. The four organizations agreed to maintain regular engagement and explore opportunities for regional financial growth.