The banking sector in Dubai is part of the wider federal system covering the UAE, as banks from all seven emirates are authorised to operate across the country. The list of licensees is long, and banks are typically well capitalised and – in the current economic climate – keen for quality credit opportunities, creating a highly competitive environment.
Financial Services
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Articles & Analysis | New legislation should stabilise Dubai's banking sector from The Report: Dubai 2015
Articles & Analysis | Dubai's eastward-looking currency exchange drives derivatives trading growth from The Report: Dubai 2015
The Dubai Gold and Commodities Exchange (DGCX) has seen strong expansion of forex trading activities in recent years, driven by growth in Indian rupee futures and a successful diversification strategy. In a bid to capture a larger share of global forex trade, the exchange launched several new products in 2014, including diversified rupee instruments and new emerging...
Chapter | Islamic Financial Services from The Report: Dubai 2015
Islamic finance is a highly competitive market in Dubai and the emirate is angling to become a leading centre for the sector. The UAE’s Islamic banks hold about 7% of global Islamic banking assets and have a market share of roughly 25% locally. The takaful segment has grown steadily since 2009 and this trend looks set to continue: total takaful contributions reached $1.16bn in 2013, up from $1...
Dubai’s banking sector, which forms part of the wider UAE banking system, has continued to recover since the global financial crisis. Banking sector assets climbed 13.1% in 2013, from $487bn to $552.5bn, while deposits rose from $318bn to $348bn, a 9.5% advance, and capital adequacy ratios remained strong, at 18.3% overall. New regulations designed to protect financial institutions from...
In many respects 2014 marked the transition from strong recovery to promising growth for Dubai. With many exciting projects in the pipeline, not least the hosting of Expo 2020, the emirate is continuing to build on its reputation as a dynamic and international centre for business.
Articles & Analysis | Growth in pension funds bodes well for Bahrain's Islamic finance sector from The Report: Bahrain 2015
Pension fund assets in the Middle East and North Africa could be worth $5trn by 2020, and financial analysts forecast that if institutional pension fund investors in the GCC divert just 20% of their current assets under management to the Islamic asset management sector, it could represent a $36bn boost for the industry. With its strong track record of developing new...