The introduction of compulsory health cover in Dubai has been one of the key drivers of demand in the insurance industry in the emirate. The sector is regulated by Dubai Health Authority (DHA), which is working to ensure there is comprehensive cover in place for the 2.46m expatriates who live in the emirate, as well as their dependants and...
Given Dubai’s track record in the GCC region and wider Middle East, for both financial services and IT technology development and entrepreneurship, it is unsurprising that the emirate is now also establishing itself as a regional centre for the development of financial technology (fintech). The rise of the segment is being driven by...
Dubai is home to a domestic stock exchange, an international market with one of the largest concentration of sukuk (Islamic bonds) in the world, as well as equity futures and three derivatives platform operators: the Dubai Gold and Commodities Exchange (DGCX), Dubai Mercantile Exchange (DME) and Nasdaq Dubai. The emirate continues to...
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 (NPLs) 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-...
The past 15 years have seen major advances in capital markets activity in Dubai. The financial sector free zone, the Dubai International Financial Centre (DIFC), has gone from idea to reality, and the emirate recently became the world’s largest market for sukuk (Islamic bonds). However, development has been uneven across types of...
Part of Dubai’s financial sector strategy is to develop its capital markets in a way that reflects the local economy and real economic activity within it. The plan for futures and spot contracts based on local commercial communities features two trading platforms situated in two separate free zones. Dubai Multi Commodities Centre (DMCC), the...
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