The Dubai Financial Services Authority (DFSA), the independent banking, financial services, and markets regulator of Dubai International Financial Centre (DIFC), Nasdaq Dubai, the Hong Kong Monetary Authority (HKMA), and Hong Kong Exchanges and Clearing Limited (HKEX), today jointly announced the establishment of a Strategic Working Group to strengthen ties between the financial markets of DIFC and Hong Kong.

The Strategic Working Group will bring together the four members to explore opportunities and develop collaboration initiatives across areas that may contribute to the continued growth and attractiveness of both markets, including sustainable finance, Islamic finance, innovation, and broader capital markets development and market connectivity.

The announcement was made during the HKMA-DFSA Joint Climate Finance Conference today in Hong Kong, which attracted over 350 participants joining in-person and online across both regions.

This conference marks the third edition of the flagship partnership initiative between the DFSA and the HKMA. It has also been the second year in which HKEX and Nasdaq Dubai support the conference as strategic partners.

The establishment of the Strategic Working Group reflects the progression of these ongoing regulatory and market dialogues, providing a more formal framework to deepen cooperation, align priorities, and support practical outcomes.

Supported by the signed Terms of Reference, the initiative deepens institutional ties between regulators and exchanges in both financial centres, and to further supports the development of the economic corridor between the Middle East and Asia. Through ongoing engagement and structured collaboration, participating organisations will exchange insights on market developments, discuss emerging opportunities and challenges, and explore areas for future collaboration.

Mark Steward, Chief Executive of the DFSA, said: “This initiative reflects the maturing of our shared commitment to collaboration, knowledge sharing, and the discovery of greater mutual benefits within the Dubai-Hong Kong corridor. Cross-market connectivity helps both markets and offers investors greater choices and rewards across both financial centres.” 

Hamed Ali, Chief Executive Officer, Nasdaq Dubai and DFM, said: “This Strategic Working Group builds on the strong collaboration between Dubai and Hong Kong. Nasdaq Dubai’s position as a leading international hub for fixed income and Islamic finance listings provides a strong platform to connect issuers and investors across the Middle East and Asia, particularly in Sukuk and sustainable finance. We look forward to strengthening this collaboration and enhancing market connectivity between the two regions.”

Eddie Yue, Chief Executive of the HKMA, said: “The Strategic Working Group marks another key step in deepening our institutional ties and market connectivity. By developing this collaboration mechanism, we are establishing a dedicated platform to better understand and align strategic priorities, as well as exploring new initiatives to facilitate smoother trade and investment between Asia and the Middle East.”

Bonnie Y Chan, Chief Executive Officer, HKEX, said, “Global capital flows are increasingly being shaped by the growing economic ties between Asia and the Middle East. As leading international financial centres at the heart of their respective regions, Hong Kong and Dubai have complementary strengths that can help facilitate the two-way flow of capital, ideas and opportunities between the two regions. HKEX’s growing commodities presence in Dubai, together with our engagement with exchanges across the UAE, reflects our long-term commitment to this dynamic corridor. The Strategic Working Group is an important next step in translating that commitment into action by deepening collaboration, advancing market connectivity and supporting innovation and sustainable growth.”