The Middle East

Facing an economic slowdown and a fragmented operating environment, Abu Dhabi insurers will continue to implement new industry regulations in 2017.

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.

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.

Year-end forecasts of increased revenue and fiscal deficit relief have brightened Sharjah’s near- to medium-term outlook, with the emirate’s authorities working to promote non-hydrocarbons sectors as attractive investment propositions on the back of slower growth in 2015.