Islamic Financial Services

The status of Dubai as a global financial centre means that it plays a central role in the domestic Islamic financial services sector. Thanks in large part to an ambitious government strategy, the sharia-compliant financial industry has emerged as a globally significant player. The combined assets of the world’s Islamic finance market have surpassed $2trn, and the UAE is home to around $222bn of that total. This establishes the country as the fourth-largest Islamic finance arena in the world, behind Iran, Saudi Arabia and Malaysia. The government has intensified efforts to develop the segment in recent years, aiming to establish Dubai as the epicentre of the Islamic economy.