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In the fiscal year of 2024, the total value of all initial public offerings in the Gulf Cooperation Council was billion U.S. dollars. This was a significant decreased compared to the ** billion U.S. dollars in 2022, but still the third-highest IPO proceeds in the GCC since 2006.

Finance industry in GCC

Low interest rates and low oil prices stimulated a frenzy of debt activity in 2020 and Q1 2021, including multiple government issuances. With oil prices steadily recovering, we may see a short-term adjustment in national debt activity. On the Dubai Financial Market (DFM), the UAE's first initial public offering (IPO) in three years emerged. Al Mal Capital REIT was the exchange's first real estate investment fund offering, generating ** million U.S. dollars. During the year, the UAE introduced several reforms relating to corporate ownership and listing standards, all of which are expected to boost IPOs on local stock exchanges. The value of domestic initial public offerings in the United Arab Emirates was expected to reach *** billion U.S. dollars by 2022. The largest number of IPOs in the GCC region in 2019 was in the consumer goods industry.

Islamic fintech

The Islamic fintech industry is anticipated to develop rapidly. Islamic fintech is characterized as a financial technology segment that adheres to Sharia law's rules, which include prohibitions on earning from debt, paying interest, and investing in firms associated to alcohol, tobacco, and gambling, among other restraints. In 2020, Saudi Arabia had the largest fintech market, at over ** billion U.S. dollars.