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 listed on Dubai’s exchange. The drop in crude oil prices in 2015 may...
UAE: Dubai Financial Services
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Chapter | Islamic Financial Services from The Report: Dubai 2016
The banking sector is a pillar of Dubai’s economy, having provided the basis for development over the past decade. The banks serve as conduits that link Dubai to regional and global economies, and their publicly traded shares are one of two main drivers of the local stock market, along with real estate stocks. For now, the banking sector in Dubai appears to be in the midst of transition, with...
The emirate of Dubai, by virtue of being less generously endowed with hydrocarbons than its regional neighbours, has worked hard over the past several decades to develop a wider, more diversified economic bedrock to power growth. As a result the emirate has several sectors whose growth is not wholly contingent on hydrocarbons revenues, and which continue to prosper in the current environment.
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.
Articles & Analysis | Dubai working to broaden the market for sharia-compliant products from The Report: Dubai 2015
Dubai is growing as a financial centre that attracts investment and expertise from all points. Its Islamic banks are central to this economic narrative, as is the emirate’s participation in the international market for sukuks, a sharia-compliant alternative to bonds. Islamic finance has become a highly competitive market in Dubai and the emirate is angling to become a...
Interviews & Viewpoints | Adnan Chilwan, CEO, Dubai Islamic Bank: Interview from The Report: Dubai 2015
How will the unification of economic programmes under the Dubai Islamic Economy Development Centre (DIEDC) affect local Islamic banks?