July 2015 marked a watershed moment in the Arab Gulf’s decades-long history of cheap oil, as the UAE became the region’s first country to remove subsidies for transport fuel. Abu Dhabi-based daily The National reported on July 28, 2015 that prices for 95-octane unleaded petrol rose overnight from Dh1.72 ($0.47) per litre to Dh2.14 ($0....
Now entering its 10th year of mandatory health insurance legislation, Abu Dhabi’s insurance sector is at something of a crossroads. Although penetration is rising and the industry’s gross written premiums (GWPs) have recorded double-digit growth in recent years, loss ratios have deteriorated over the same period, the industry recorded some of...
In a bid to strengthen the insurance sector and promote industry consolidation, the UAE Insurance Authority (IA) recently introduced new financial regulations for underwriters, aimed at improving solvency, technical provisions and accounting practices, and setting new investment and minimum capital requirements. These reforms will bring the...
The acquisition of Barclays UAE retail business in 2014 by Abu Dhabi Islamic Bank (ADIB) represented the most significant expansion in the domestic Islamic banking market of recent years. However, while the headline-generating event was a very visible demonstration of the growth of sharia-compliant financing in the UAE, the expansion of Abu...
The UAE is one of the world’s core markets for Islamic financial services (IFS), and in recent years has made significant contributions to both global industry asset growth and innovation. Within the wider federation, the IFS institutions which have made Abu Dhabi their home have played an important role in the nation’s emergence as a centre...
The earliest listings in any new market are important for exchange authorities that want to attract more companies to the board. In the case of the Abu Dhabi Securities Exchange (ADX), the private joint-stock companies (PJSC) platform has two strong institutions to build from. Manazel Real Estate and The National Investor (TNI) were listed on...
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