How strongly held is the view in the industry that trade finance remains a largely untapped sector?
UAE: Dubai Financial Services
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Interviews & Viewpoints | OBG talks to Gerald Hassell, Chairman and CEO, Bank of New York Mellon from The Report: Dubai 2014
Is the absence of institutional investors in Gulf bourses a serious impediment to market depth?
Though overcrowded, the UAE’s insurance market is underpenetrated by Western standards, and there is ample room for growth. Driven by an expanding expatriate population, the market is projected to grow 10% in 2014, and anticipated regulatory changes could further boost premium growth in the medium term. Most notably, a boost is expected to come from the introduction of mandatory medical coverage...
Chapter | Islamic Financial Services from The Report: Dubai 2014
The Islamic financial services (IFS) industry has grown increasingly popular in recent years, with worldwide assets totalling $1.8trn in 2012 and forecast to top $2trn by the end of 2014. Having already established a reputation as a leading regional financial centre with abundant liquidity, Dubai has emerged as a major beneficiary of the IFS growth story. Sharia-compliant project financing,...
Chapter | Capital Markets from The Report: Dubai 2014
Driven by enhanced liquidity in the banking sector, rising property prices and an overall improvement in the domestic economy, Dubai’s capital markets began 2013 in full recovery mode. The Dubai Financial Market is a largely retail market at present, but it is preparing for a surge in institutional trading activity and an influx of foreign investment as a result of the MSCI index upgrade to “...
The sector appears to have largely recovered from the 2008-11 economic crisis, with the first half of 2013 seeing net profits in the UAE’s banking sector rising 20% to $3.7bn, while total assets grew 8% to $517bn during the same period, although there are a number of risks that remain outstanding. The introduction of new regulations has helped to improve overall stability in the real estate...