In October 2016 Sheikh Khalifa bin Zayed Al Nahyan, president of the UAE and ruler of Abu Dhabi, issued a new federal banking law by decree, thereby delivering one of the most keenly anticipated pieces of legislation in recent years. When fully implemented in 2017, the law will address a weak spot in the business environment which has...
The emirate’s latest five-year plan, the Abu Dhabi Plan, was revealed in June 2016. Of key interest to the business community was how the new strategy would differ from the Strategic Plan 2011-15. Variations from one five-year plan to another are bound to be relatively minor, as each strategic phase works towards the objectives already...
While the first year of operations for Abu Dhabi Global Market (ADGM) has brought much attention for its licensed financial institutions, and the regulatory and judicial infrastructure within which they operate, 2017 is likely to see more emphasis on the zone’s strategy to develop as a broad-based financial centre.
Abu Dhabi has long been associated with buy-side investment activity, thanks largely to its success in transforming fiscal surpluses into global investments aimed at ensuring future economic security. However, after two full years of lower oil prices, Abu Dhabi’s attractiveness as a destination for inward investment has become more pertinent, with...
The February 2016 announcement by Obaid Humaid Al Tayer, the UAE minister of state for financial affairs, that the UAE will introduce a value-added tax (VAT) is one of the most significant economic developments in the country in recent years. While the UAE has been a strong proponent of VAT for some time, the prospect of reducing the...
The situation of young people in the Arab world has long been a concern for policymakers. With some of the highest unemployment rates globally, much of the MENA region suffers from strife and sectarian tensions, warding off private investment and job creation that would help satisfy the aspirations of its young people. According to the World...
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