About The DMO | Public Debt Management Office

About the Public Debt Management Office

The Public Debt Management Office(‘DMO’) was established pursuant to Law No. 8 of 2022 Regulating the Public Debt of the Government of Dubai, issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as the Ruler of Dubai.

The establishment of the DMO embodies the government's commitment to fortify its financial foundation and boost global competitiveness. The office efficiently meets the government's financing requirements and contributes to vital infrastructure projects across sectors, aligning with the leadership's vision.

The DMO plays a crucial role in the effective governance of the government's financial resources. The key responsibilities encompass:

Effective Risk Management:

Ensuring a targeted risk profile of the Public Debt portfolio contributing to overall fiscal stability.

Investor Confidence:

Building and sustaining the trust of investors and financial institutions by maintaining a high level of transparency and credibility.

Funding Requirements:

Meeting the government's financial requirements while adhering to established risk management standards.

Best Practices:

Managing the Public Debt in alignment with safe and sound best practices, fostering fiscal responsibility.

Mission

To effectively and responsibly manage Dubai's public debt, ensuring prudent borrowing practices and safeguarding the government's financial stability while promoting transparency, investor confidence, and sustainable economic growth.

Vision

To be a leading and internationally recognized authority in public debt management, renowned for its expertise, innovation, and commitment to excellence, thereby contributing to Dubai's long-term prosperity and fiscal resilience.

Organizational chart

Public Debt Management Office

Public Debt Strategy Management & Executive Division

Responsible for formulating and implementing strategies to manage Dubai’s public debt, ensuring the Government’s financing needs are met in line with prudent risk management principles. The division oversees debt issuance, portfolio monitoring, and government guarantees, while ensuring timely debt servicing. It also promotes transparency and contributes to strengthening Dubai’s credit profile through enhanced disclosure and communication practices.

Debt Origination Section

Investor Relations Section

Debt Service Section

Financial Analysis & Oversight Division

Leads the analytical, governance, and oversight functions of the Public Debt Management Office. The division supports Dubai’s debt sustainability and credit profile by conducting sovereign debt assessments, monitoring the debt and dividend performance of government-related entities, and developing policies, models, and frameworks in line with the Public Debt Law and international best practices.

Sovereign Debt Analysis

GRE Debt & Dividend Analysis Section

Regulation

Public Debt Law - No. (8) of 2022

The Law No. 8 of 2022 regulates the public debt in Dubai, Issued by His Highness Sheikh Mohamed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE, in his capacity as the Ruler of Dubai.

Despite the financial crisis that hit the global economy in the late first decade of this century, which was followed shortly by the pandemic crisis, and despite the economic repercussions of these major crises and the ongoing geopolitical crises in various places around the world, the government of Dubai has achieved consecutive successes in managing public debt. This accomplishment can be attributed to the deep awareness of its leaders and the financial officials, their forward-looking perspective, and their steadfast commitment to ensuring that Dubai continues to shine brightly and maintains a prestigious financial position in various fields and on all fronts.

The continuous government efforts to enhance the financial position of the Emirate of Dubai have led to the establishment of the Public Debt Management Office. This office contributes to meeting the financial requirements of the government, which is expected to enrich ongoing government initiatives, including investments in the development of infrastructure projects in various sectors. Serving the aspirations of our wise leadership, the goal is to improve the quality of life and enhance the global competitiveness of the emirate.

The government of Dubai's continuous commitment to fulfilling its financial obligations on time reflects the image of the government financial stability and commitment to achieving its strategy in financial risk management. Here, the vital role of the Public Debt Management Office comes into play in solidifying the financial stability of the government and achieving the goals outlined in its financial strategies.

Abdulrahman Saleh Al Saleh

Chief Executive Officer's Message

At the Public Debt Management Office, we recognize Dubai's resilience and prominence as a global hub across various sectors. We are committed to playing a pivotal role in efficiently meeting the government's financing requirements and contributing to vital infrastructure projects and strategic initiatives, all while maintaining a responsible and sustainable public debt management objective.

Our aim is to ensure the efficient and effective management of the public debt portfolio, employing prudent cost and risk strategies. We focus on developing governance frameworks that strengthen financial policies in the emirate as a whole and enhance the management of public debt. Our efforts extend to diversifying funding sources and creating an efficient market for government securities.

The team is dedicated to fostering confidence among investors and financial institutions in Dubai's credit profile and its strategic vision & initiatives across various sectors. This dedication is upheld by maintaining a high level of transparency and credibility.

Rashed Ali Bin Obood Al Falasi

Chief Executive Officer's Profile

Mr. Rashed Ali Bin Obood AlFalasi serves as Chief Executive Officer of the Public Debt Management Office (DMO) for the Government of Dubai, a role he assumed in April 2022 following the issuance of the Dubai Law No. (8) of 2022. Mr. AlFalasi has led the establishment and operationalization of the DMO, strengthening Dubai's debt management frameworks in line with international best practices to support the emirate's long-term fiscal sustainability.

With extensive expertise in public finance and financial markets, Mr. AlFalasi has been instrumental in positioning the DMO as a key driver of Dubai’s fiscal policy execution. As CEO, He oversees the formulation and implementation of Dubai's public debt strategies, focusing on optimizing the Government’s debt portfolio to support strategic infrastructure investments, promote sustainable economic growth, and manage financial risks.

Under his leadership, the DMO has enhanced engagement with global investors, government related entities, solidified Dubai’s standing in international capital markets, and advanced the emirate’s financial resilience.

In recognition of his leadership and contributions to public debt management, Mr. AlFalasi was awarded the Dubai Medal in the CEO category at the Dubai Government Excellence Awards in March 2024.

Beyond his role at the DMO, Mr. AlFalasi serves on the boards of leading government-related entities, including the Dubai Electricity and Water Authority (PJSC), Dubai Investment Fund, Dubai Real Estate Corporation, and Emirates Post Group. He also contributes actively to several strategic government committees focused on economic and financial development.

Mr. AlFalasi holds a Master’s degree in Business Administration with a specialization in Finance. He is a graduate of the Advanced Management Program (AMP) at the Wharton School of the University of Pennsylvania, and an alumnus of the Government Secondment Program for Emirati Leadership.

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