Banking

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 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-sized enterprise segment. A new bankruptcy law and a recently launched credit bureau are set to underpin sustainable lending growth, and segments like Islamic banking and new financial technologies, with its advancement of blockchains, are helping to drive expansion and improve access to credit.

This chapter contains interviews with Khalifa Mohammed Al Kindi, Chairman, Central Bank of the UAE; Bernd van Linder, CEO, Commercial Bank of Dubai; and Abdulla Qassem, Chairman, Network International.