Facing an economic slowdown and a fragmented operating environment, Abu Dhabi insurers will continue to implement new industry regulations in 2017.
The Middle East
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Regulators are encouraging mergers and acquisitions in Bahrain’s Islamic banking industry in a bid to cement the country’s position as one of the world’s leading sharia-compliant financial centres.
Despite high levels of government debt and the costs associated with hosting hundreds of thousands of refugees, Jordan’s economy has continued to demonstrate remarkable resilience in the face of ongoing regional instability. A raft of far-reaching reforms introduced in 2016, along with newly brokered international agreements, should help the kingdom continue along its slow but steady growth path in the years ahead.
Weaker energy prices and an ambitious reform programme aimed at increasing private sector participation in the economy were key themes of 2016 as Saudi Arabia accelerated efforts to diversify its economy.
Sales of greener vehicles in Dubai look set to rise in the coming years as the government steps up its bid to reduce the emirate’s carbon footprint.
The government of Kuwait is continuing its drive to encourage private sector investments, having recently announced plans to invite proposals on several large-scale, public-private partnership (PPP) projects.