The financial services industry in Dubai is a major economic driver for the emirate, and the Islamic segment is no exception. In addition to the emirate’s Islamic banks and takaful (Islamic insurance) providers, since July 2015 it is also the largest centre for sukuk (Islamic bond) issuance in the world, with $36.7bn in sukuk...
Given a lower oil price and an appreciating US dollar, what challenges have emerged, and how is monetary policy being adjusted as a result?
What has been the impact of the MSCI upgrade of the UAE from frontier to emerging market status?
One sign of enduring strength in Dubai’s credit markets is that multiple obstacles have not hindered growth. This includes external factors, such as lower oil prices and a recent history of credit struggles. In the past year, another challenge to lending growth has been Al Etihad Credit Bureau. While in the long term this new actor is expected...
The emirate’s banks have always considered lending as a primary activity thanks to a prudent strategy that has discouraged them from chasing less-proven and riskier alternatives. This policy paid off during the global financial crisis, as there were scant direct exposures to the toxic derivatives that sank some of the world’s biggest lenders...
Insurance penetration in Dubai is very low and the potential for growth is immense, making the sector competitive and highly oriented toward future expansion. However, the current operating environment is challenging, with companies competing on price to capture market share, scale up customer bases and boost profits.
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