Market overview

The United Arab Emirates runs several licensed securities markets. Dubai Financial Market and Nasdaq Dubai operate in Dubai, and the Abu Dhabi Securities Exchange serves the federal capital. Above them sits the federal regulator, the Securities and Commodities Authority, which now presents itself as the Capital Market Authority and publishes the laws, regulatory decisions and circulars that govern market operation, licensing of capital market institutions and anti-money laundering obligations. DFM writes its own rulebook in modules covering general obligations, listing, membership and trading, but the Authority approves what the market does. Trading and settlement are in dirhams.

Read the full overview and sources

DFM’s Main Market splits issuers into two categories rather than two boards. To sit in Category One a company must have fully paid-up share capital, at least 100 shareholders, free float shares of not less than 20% of share capital, and net shareholders’ equity of not less than 100% of paid-up capital. The market can waive the float test where share capital is at least AED 500 million and it judges the tradable share count sufficient. Government-owned public joint stock companies whose shares are offered for public subscription list in Category One. Anything that misses a Category One condition lists in Category Two, and a listed company drops there automatically if trading is suspended for six months or more or accumulated losses reach fifty percent of capital.

Foreign and free zone issuers face separate tests. A foreign company must be the equivalent of a public joint stock company, have paid-up capital of not less than AED 40 million, be listed on a foreign market, have had at least 25% of its shares previously offered to the public, or 15% where market capitalisation exceeds AED 5 billion, and have generated net profits in each of the two financial years before applying. A free zone company needs paid-up capital of not less than AED 20 million. Debt securities and sukuk can be listed where the aggregate value is at least AED 10 million.

The headline index is the DFM General Index, launched on 4th December, 2006 with a base date of 31 December 2003. It is free float weighted, follows the S&P Dow Jones Indices capping method with any constituent above 10% capped at 10%, and admits new listings after 20 Business Days of trading, or after the close of the fifth day where an IPO with free float market capitalisation of at least AED 5 billion is fast tracked. A parallel DFM Sharia Index, launched on the 2nd of October 2019 with a base date of 31st December 2009, screens constituents against the DFM Sharia Standard. Sector indices use the Global Industry Classification Standard and start from a base level of 1000.

Concentration is the defining feature. As on 22nd of June 2026 the DFMGI held 41 constituents, with Dubai Islamic Bank, Emaar Properties and Emirates NBD each at the 10.00% cap, DEWA at 8.60% and du at 8.03%. Banks, real estate developers, utilities and telecoms therefore set the index. GSN covers DFM and Nasdaq Dubai listings and disclosures, sukuk and bond issuance, and Authority rulemaking.

Sources

This overview is based on the official documents listed below, last checked 2026-09-03. Figures are as stated in those documents.

Top stories

Equities

Parkin signs memorandum of understanding with Bahrain Car Parks Company on smart parking

Dubai parking operator Parkin agreed an exploratory framework with Bahrain's Amakin covering platform integration, digital payments and mobility data analysis.

City streets and towers in Dubai, United Arab Emirates

More news from United Arab Emirates

Emirati Market Explainers

شاشة تداول إلكترونية تعرض بيانات أسعار وعوائد سندات في سوق مالية عالمية
Bonds

Perpetual Bonds: How Debt Can Live Forever

Why issuers agree to borrow money without any legal obligation to repay it on a specific date, and how investors weigh this absence against other advantages.