How has the banking industry strengthened its position since the onset of the financial crisis?
Adnan Chilwan: The financial downturn adversely affected the entire global financial industry. However, thanks to the decisive action taken by the UAE government in 2008, the country’s financial services sector is in a very strong...
Just over three decades ago in 1979, construction wrapped up on what was at that point an unprecedented project in the Middle East. About 40 km south of Dubai’s historical centre – in what had been a vacant sandy lot – construction teams were working to dredge what would become Jebel Ali Port. Now complete, it has become the largest man-made port in...
With Dubai containing some of the world’s youngest stock exchanges, born in just the first few years of this century, the emirate’s capital markets have lived long in a very short time. After experiencing unprecedented growth in their first years, these markets were then faced with a major global crisis in 2008-09. This saw indexes plummet and...
A major part of the banking sector within the UAE, Dubai is also a key player in the wider MENA region. In the first quarter of 2012, Dubai-based Emirates NBD (ENBD) was not only the largest bank by assets in the UAE, but number three in the GCC, after Qatar National Bank and Saudi Arabia’s National Commercial Bank. ENBD shares the Dubai banking...
The UAE is one of the largest insurance markets in the Gulf region, with Dubai taking an impressive share of the country’s total premiums. There is still plenty of room for growth in life and general, with the period ahead likely to see more of this potential realised. Dubai is moving towards compulsory health insurance (see analysis), while there...
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