UAE: Dubai Financial Services Articles & Analysis

Chapter | Capital Markets from The Report: Dubai 2016

The past 15 years have seen major advances in capital markets activity in Dubai. The financial sector free zone, the Dubai International Financial Centre (DIFC), has gone from idea to reality, and the emirate recently became the world’s largest market for sukuk (Islamic bonds). However, development has been uneven across types of capital markets offerings based on local demand patterns. New...

The emirate of Dubai, by virtue of being less generously endowed with hydrocarbons than its regional neighbours, has worked hard over the past several decades to develop a wider, more diversified economic bedrock to power growth. As a result the emirate has several sectors whose growth is not wholly contingent on hydrocarbons revenues, and which continue to prosper in the current environment.

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Positive first half results from leading banks, rising business confidence and a predicted surge in consumer spending are expected to boost lending and earnings in Dubai’s financial services sector.

Dubai launched the Middle East, Africa and South Asia (MEASA) region’s first fintech accelerator in January, as efforts to update the legal framework for crowdfunding activities in the financial sector also make headway.

 

What has been the impact of the MSCI upgrade of the UAE from frontier to emerging market status?

 

Part of Dubai’s financial sector strategy is to develop its capital markets in a way that reflects the local economy and real economic activity within it. The plan for futures and spot contracts based on local commercial communities features two trading platforms situated in two separate free zones. Dubai Multi Commodities Centre (DMCC), the...

 

The past 15 years have seen major advances in capital markets activity in Dubai. The financial sector free zone, the Dubai International Financial Centre (DIFC), has gone from idea to reality, and the emirate recently became the world’s largest market for sukuk (Islamic bonds). However, development has been uneven across types of...

 

One of the major reforms expected in the Islamic financial services sector in Dubai is a new, federal-level sharia board. Approved in May 2016 by the UAE Cabinet, the authorities believe that it will improve services and governance, and carve a path towards standardisation in what is a young and fast-developing industry. As of mid-2016...