What structural adjustments and upgrades need to be considered following the MSCI upgrade from frontier market status to emerging market?
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Interviews & Viewpoints | OBG talks to Sultan bin Nasser Al Suwaidi, Governor, Central Bank of the UAE from The Report: Dubai 2014
How is continued deleveraging and financial uncertainty in the eurozone impacting the sector?
Articles & Analysis | Cashing in: The emirate’s large expatriate population means lucrative opportunities for banks in the remittances segment from The Report: Dubai 2014
While the volume of remittances worldwide fluctuated wildly during the recent financial crisis, Dubai has routinely bucked regional trends and benefitted from a stable flow of remittances over the past few years. According to the World Bank, worldwide remittances are estimated to have reached $406bn in 2012, up 6.5% over 2011, while the UAE saw...
Articles & Analysis | In demand: Rapid growth in the sector outpaces that of its conventional counterpart from The Report: Dubai 2014
Over the past decade, the Islamic financial services (IFS) industry has grown 50% faster than the conventional financial sector. Worldwide IFS assets totalled $1.8trn in 2012, according to Ernst & Young’s (EY) “World Islamic Banking Competitiveness Report 2012-13”. By the end of 2014, IFS assets are projected to top the $2trn mark, and...
Articles & Analysis | Big spender: With one of the highest credit card penetration rates in the region, the emirate is ready for improved e-commerce from The Report: Dubai 2014
The UAE boasts some of the highest internet, credit card and e-commerce penetration rates in the MENA region, making it ideal for online shopping. However, payment systems in the country are not yet at the same level of sophistication as more developed international retail markets. While credit transfers are increasingly used for salary and high...
Articles & Analysis | Growth strategies: Creating uniform standards and educating experts are top priorities from The Report: Dubai 2014
In January 2013, Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, announced an initiative to turn Dubai into the “global capital of the Islamic economy”. The six-pillar strategy calls for the development of the halal food and tourism industries, as well as the expansion of the Islamic financial services (IFS) sector, and small and medium-...