The UAE accounted for 30% of the GCC’s total banking assets in 2014 following another year of steady growth, with Abu Dhabi playing a key role in this expansion. Having successfully emerged from the global economic turbulence of recent years, the sector is on a trajectory of loan-book growth and sustainable profits with all five of the emirate’s biggest lenders posting profits in 2013. A new...
The Middle East
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While hydrocarbons still form the bulk of Abu Dhabi’s economy, the sector’s contribution to GDP has been falling over the last 10 years as the emirate pushes ahead with diversification goals in line with Abu Dhabi Economic Vision 2030. The manufacturing segment has seen sustained growth in recent times with the manufacturing of chemicals and plastics, basic metal and non-metallic mineral...
Hydrocarbons revenues still form the bulk of Abu Dhabi’s GDP and while falling prices are a concern, the emirate has been moving steadily towards its economic diversification targets in line with Abu Dhabi Economic Vision 2030. The past 10 years has seen the non-oil sector expand strongly on the back of business-friendly government policies, as a result of which non-oil sector growth now outpaces that of the oil sector.
Legislation regulating Oman’s sharia-compliant insurance market has moved a step closer to being finalised after the State Council approved a draft law that will help encourage new investment in the takaful (Islamic insurance) industry.
Competition is set to heat up for high-end retail space in Abu Dhabi in the coming years as an expanding and affluent population, solid economic growth and increasing tourism drive retail activity.
A new regulatory framework governing Bahrain’s sharia-compliant insurance, or takaful, sector is expected to play a key role in generating new growth across the segment by attracting more players to the market as well as boosting competition among operators.