Dubai launched the Middle East, Africa and South Asia (MEASA) region’s first fintech accelerator in January, as efforts to update the legal framework for crowdfunding activities in the financial sector also make headway.
UAE: Dubai Financial Services
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Increasing consumer awareness and growing demand for retail products are set to drive activity in Dubai’s Islamic financial services (IFS) sector, offering scope for sustainable expansion despite forecasts of slower short-term economic growth.
When the UAE officially transitioned from “frontier” to “emerging” on a key market index in June 2013, a new era of both greater opportunity and closer scrutiny for the financial markets in Dubai was ushered in. The results are already coming to the fore: stocks across the UAE are up 41% in 2014 and 89% over the last year as of June, while capital markets in Dubai are starting to draw more attention from foreign investors.
Economic update | Dubai focuses on Islamic finance as part of its economic diversification strategy
2 Sep 2013
Plans to establish Dubai’s credentials as a centre for Islamic finance took a step forward in July with the opening of a new academic institution to train professionals for employment in the sector.
The recent promotion of the UAE to “emerging market” status could well boost capital inflows to Dubai, although the full effect of the change is likely to take some time to become apparent.
Economic update | Dubai: Negotiating mortgage lending
19 Feb 2013
The UAE’s central bank has postponed plans to implement a cap on mortgage lending, a move welcomed by Dubai bankers who had been concerned the tight restrictions originally proposed could limit lending growth just as the real estate sector is showing signs of recovery in certain sub-sectors.
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