A major international centre for Islamic finance, Dubai has more sukuk (Islamic bonds) listings by value than anywhere else in the world. The emirate is also home to Dubai Islamic Bank, the oldest – and third largest – fully fledged Islamic bank. The sector continues to develop rapidly, with local sharia-compliant banks registering faster growth than their conventional counterparts, although...
UAE: Dubai Financial Services
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Chapter | Islamic Financial Services from The Report: Dubai 2018
Dubai is home to some of the Middle East’s largest banks, as well as its major financial free zone. The emirate’s financial institutions have largely recovered from a rise in non-performing loans in the wake of the 2008 financial crisis, and are well capitalised and liquid despite a recent rise in delinquencies in the small and medium-sized enterprise segment. A new bankruptcy law and a...
Dubai saw steady GDP growth of 2.8% in 2017 and this is expected to reach 3.2% in 2018, with an increased drive towards consolidating its position as a knowledge-based economy. The emirate is among the most diversified in the region, thanks to factors such as a highly attractive business environment that has brought in large amounts of foreign investment.
Economic update | Dubai to launch index futures following three new licensing agreements
27 Nov 2017
Efforts to expand the reach and product offering of Dubai’s capital markets accelerated in October, as Nasdaq Dubai inked several deals to launch index futures.
Positive first half results from leading banks, rising business confidence and a predicted surge in consumer spending are expected to boost lending and earnings in Dubai’s financial services sector.
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.