Small and medium-sized enterprises (SMEs) dominate Dubai’s economy, accounting for around 95% of companies operating in the emirate, according to Dubai SME, the Dubai Department of Economic Development’s SME agency. They also generate nearly 40% of the economy’s value added and 42% of employment. The value-added figure breaks down into a...
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...
The number of sovereign wealth funds (SWFs) operating in the GCC has grown in the last decade. The value of these SWFs – created to invest and manage the huge sums flowing into the region from hydrocarbons sales – stood at $2.9trn in March 2017, according to the Sovereign Wealth Fund Institute (SWFI), representing 38.5% of the global total....
Dubai is home to the region’s principal financial free zone, the Dubai International Financial Centre (DIFC). The zone hosted 1648 registered companies in 2016, including 447 financial services firms. The zone also hosts the Nasdaq Dubai stock exchange, which lists the largest amount of sukuk (Islamic bonds) in the world, with a...
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...
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