Hong Kong and Dubai financial authorities and exchanges have established a Strategic Working Group to strengthen ties between the financial markets of Hong Kong and the Dubai International Financial Centre (DIFC), according to a joint announcement.
The move comes as the two financial centres seek to deepen connectivity between Asia and the Middle East.
The Hong Kong Monetary Authority (HKMA), Hong Kong Exchanges and Clearing Limited (HKEX), the Dubai Financial Services Authority (DFSA), and Nasdaq Dubai jointly announced the initiative this week.
The working group will explore opportunities and develop collaborative initiatives in sustainable finance, Islamic finance, innovation, broader capital markets development, and market connectivity, the four institutions said.
The initiative provides a more formal framework for ongoing regulatory and market dialogues between Hong Kong and DIFC. It is intended to deepen cooperation, align priorities and support practical outcomes.
The announcement was made during the HKMA-DFSA Joint Climate Finance Conference in Hong Kong, which attracted more than 350 participants joining in person and online across the two regions.
The conference marked the third edition of the flagship partnership between the HKMA and DFSA. HKEX and Nasdaq Dubai have also supported the conference as strategic partners for the second consecutive year.
The Strategic Working Group reflects a broader commitment to strengthening institutional relationships between regulators and exchanges in the two financial centres and developing the economic corridor between the Middle East and Asia.
Through ongoing engagement and structured collaboration, the participating organisations will exchange insights on market developments, discuss emerging opportunities and challenges, and explore areas for future collaboration.
“The Strategic Working Group marks another key step in deepening our institutional ties and market connectivity,” HKMA Chief Executive Eddie Yue said.
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.
DFSA Chief Executive Mark Steward said the initiative reflected a “maturing” commitment to collaboration and knowledge sharing between the two markets.
“Cross-market connectivity helps both markets and offers investors greater choices and rewards across both financial centres,” Steward said.
HKEX Chief Executive Bonnie Y Chan said global capital flows were increasingly being shaped by 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 its engagement with exchanges across the United Arab Emirates, reflected its long-term commitment to the corridor, she said.
Nasdaq Dubai Chief Executive Hamed Ali said the working group built on the existing 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,” Ali said.
The group will seek to strengthen collaboration and enhance market connectivity between the two regions as Hong Kong and Dubai continue to develop their roles as international financial centres connecting Asian and Middle Eastern capital.