Among the banking sectors in the GCC, that of the UAE has grown to become the largest, and within this dynamic and competitive market the banks headquartered in the nation’s capital have expanded to become some of its most significant players. Over the past year they have demonstrated their resilience to unfavourable global economic conditions...
UAE: Abu Dhabi Financial Services
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Articles & Analysis | Cool in a crisis: Resilient during global crises, the emirate’s banks are now expanding from The Report: Abu Dhabi 2014
Articles & Analysis | A culture of lending: Consumer borrowing has grown rapidly, creating both opportunities and challenges from The Report: Abu Dhabi 2014
While the prudent expansion of lending activity is a fundamental principle of banking strategy, and a key indicator of a healthy economy, concerns over an overheating credit environment in the UAE were raised in 2013 by some industry observers. Of particular interest to the local press was a rapid rise in consumer borrowing, with credit cards...
Interviews & Viewpoints | OBG talks to Rashed Al Baloushi, CEO, Abu Dhabi Securities Exchange (ADX) from The Report: Abu Dhabi 2014
How will the UAE’s recent upgrade to “emerging” market classification impact local capital markets?
Articles & Analysis | An important step: Launching a dedicated financial zone from The Report: Abu Dhabi 2014
While the Abu Dhabi Securities Exchange (ADX) continues to formulate instruments aimed at deepening the emirate’s markets, 2013 brought a fresh development that has the potential to radically transform the financial sector. At the end of April 2013, after months of speculation in the local press, Sheikh Khalifa bin Zayed Al Nahyan, the president...
Although the emirate’s economic growth can be primarily attributed to its vast hydrocarbons resources, it has also made progress diversifying into new sectors such as manufacturing, tourism, aerospace, defence, finance and logistics. In addition to its economic investments, Abu Dhabi has also made major contributions to social welfare as well as infrastructure, which has been identified as the bedrock for future growth.
In 2012 Abu Dhabi’s insurance sector posted continued growth on the back of increased spending from consumers, corporations and the government. The UAE market overall remains underpenetrated, though total premiums as a percentage of GDP did see a slight increase from 1.9% in 2011 to 2% in 2012. GDP growth and planned government spending on large-scale infrastructure projects will increase the...