Home to some of the UAE’s most prominent Islamic banks and takaful operators, Abu Dhabi has long been a regional centre for Islamic financial services. Global Islamic banking assets are forecast to surpass the $2trn mark by the end of 2014, and Abu Dhabi’s sharia-compliant financers are well positioned to capitalise on this expansion, although a competitive market and the lingering effects of the...
UAE: Abu Dhabi Financial Services
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Chapter | Islamic Financial Services from The Report: Abu Dhabi 2014
Chapter | Capital Markets from The Report: Abu Dhabi 2014
In 2012 the GDP of Abu Dhabi expanded by 5.6% y-o-y, and the government has forecast annual expansion of 5.7% in the 2013-16 period. With a sustained return to positive territory for its main index and a crucial upgrade to “emerging market” status by Morgan Stanley Capital International (MSCI), Abu Dhabi’s exchange has had a good year. Both developments have generated new optimism regarding the...
The UAE’s banking sector has continued to grow in both depth and complexity to become the largest in the region, accounting for 31% of the total volume of the GCC banking sector and about 20% of the gross volume of the Arab banking sector at the close of 2012. The sector’s profitable trend continued into the first half of 2013: aggregate net profit for the period ending June 30, 2013 reached $2....
As Abu Dhabi looks to develop its capital markets, it has again raised discussions of establishing a Gulf Derivatives Exchange, while an upgrade for the UAE to emerging market status is likely to boost the bourse’s international profile and attract more institutional investors.
Articles & Analysis | Taking the lead: Building up the local reinsurance industry from The Report: Abu Dhabi 2013
A reliance on reinsurance providers is a characteristic of the GCC market, with regional players ceding an aggregate of 40% of their non-life premium income in 2011, according to the Qatar Financial Centre’s 2012 “GCC Reinsurance Barometer”. While some of this is directed to local and regional firms, the majority is placed with the more developed...
Articles & Analysis | Healthy reforms: Initial success in expanding health coverage from The Report: Abu Dhabi 2013
As the only one of the UAE’s seven emirates to implement a mandatory health insurance system, Abu Dhabi’s health insurance sector has been keenly observed by both the rest of the country as well as its GCC neighbours who are contemplating one of their own. A less successful attempt by Kuwait to introduce a national insurance system some years ago...