The financial services industry in Dubai is a major economic driver for the emirate, and the Islamic segment is no exception. In addition to the emirate’s Islamic banks and takaful (Islamic insurance) providers, since July 2015 it is also the largest centre for sukuk (Islamic bond) issuance in the world, with $36.7bn in sukuk...
One of the most important issues currently facing the Middle East is the changing composition of its demographic structure. A massive cohort of young people – known as a youth bulge – is challenging policymakers, with youth policy affecting security, education, the labour market and welfare programmes, among other areas. Given the relative...
The emirate’s banks have always considered lending as a primary activity thanks to a prudent strategy that has discouraged them from chasing less-proven and riskier alternatives. This policy paid off during the global financial crisis, as there were scant direct exposures to the toxic derivatives that sank some of the world’s biggest lenders...
One sign of enduring strength in Dubai’s credit markets is that multiple obstacles have not hindered growth. This includes external factors, such as lower oil prices and a recent history of credit struggles. In the past year, another challenge to lending growth has been Al Etihad Credit Bureau. While in the long term this new actor is expected...
One of the key pillars of Dubai’s developmental blueprint, Dubai Plan 2021, is the creation of a forward-looking, proactive government that is in touch with the desires of the people, with whom its dealings are characterised by transparency and fairness. The largest revamp in the federal government’s history, announced by Sheikh Mohammed bin...
Project finance has for many years been strong across the Middle East, especially in the power, water, and oil and gas sectors in various GCC countries. This trend looks likely to take a bold new direction with the promulgation in Dubai in 2015 of a new law relating to public-private partnerships (PPPs). Traditionally sovereign wealth has been...
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