Egypt’s banking sector has shown itself capable of weathering difficult economic circumstances in recent years. However, profitability has been challenged by a range of forces, including significant changes made in 2016 to the regulatory framework surrounding lending activity and a shortage of foreign currency that negatively affected the daily operations of banks and wider investor sentiment...
Financial Services
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While Egypt continues to face considerable economic challenges as it confronts the legacy of its recent political history, at the outset of 2017 the nation’s economic planners have reason for optimism.
Articles & Analysis | Sharjah's small businesses benefit from financial reforms from The Report: Sharjah 2017
Small and medium-sized enterprises (SMEs) are a key contributor to the economies of both Sharjah and the UAE as a whole. Approximately 54,000 of the UAE’s 350,000 smaller businesses are based in the emirate, accounting for 86% of the private sector workforce. According to the Ministry of Economy, the segment further accounts for around 60% of...
Interviews & Viewpoints | Ahmed Saad, Deputy CEO, Sharjah Islamic Bank: Interview from The Report: Sharjah 2017
How would you assess the potential for growth in corporate and Islamic banking in the UAE and the greater MENA region?
Articles & Analysis | Sharjah remains an active financial services centre from The Report: Sharjah 2017
The financial services sector accounted for 10.3% of Sharjah’s GDP in 2015, according to Moody’s credit rating agency, in line with the figure for the UAE as a whole. The sector has been growing rapidly in recent times, at an average rate of 12.7% over the previous five years. It primarily consists of four locally headquartered banks and two...
Articles & Analysis | Sharjah's sukuk market grows amid slowdown from The Report: Sharjah 2017
The UAE has been a key player in the development of the international market for sukuk (Islamic bonds), with Sharjah playing an outsize role. The emirate was the first member of the federation in which a bank issued an international sukuk. Global and regional sukuk issues have slowed in recent years, following strong growth previously,...