Commercial banking in Dubai- Banking issues in Emirates

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 www.dubaibusinesskey.comDubai’s economy is no longer reliant on oil,

but is more diversified, relying heavily on

Trade, services and finance sectors.

Dubai’s many free zones are another

aspect of the city’s growing economy.

Established as a way of attracting more

foreign investment, free zones adhere

to unique laws regarding ownership,

taxation and labour. 

 

Key economic sectors and economic activity in

Dubai remained stable and growing in 2012,

with the Department of Economic Development

(DED) issuing 16,688 business licenses during

the year, a 16 per cent increase over the 14,430

licenses issued in 2011.

The tourism sector, at 56 per cent, accounted for

the major share of licenses in 2012 followed by

the professional (21%) commercial (14%) and

industrial (13%) sectors compared to 2011.

Maximum Business Opportunity in One Platform.

Attracted to the region by its growing wealth, cross-boarder trade and investment activity, M&A activity and ongoing restructuring by state owned enterprises, corporations and private entities, a large number of banks and brokerages have established a presence in DIFC.

From DIFC, investment banks are able to service the region's growing financing needs and support growing sophistication of businesses operating in and from around the region. Recent years have seen the expansion of the corporate sector with more sophisticated financing requirements.

Regional debt capital markets are also picking up as governments and corporates across the region diversify their funding bases they will need to resort more and more to capital markets to tap into private financing.

·         Commercial banking

·         Investment banking

·         Trade and export finance

·         Project and infrastructure funding

·         Treasury services

·         Correspondent banking

DIFC has attracted a wide range of professional service providers including:

Business setup Dubai

Branch Company

·         Legal

·         Accounting and audit

·         Consulting

·         Compliance

·         Recruitment

·         Risk management

·         Data and research providers

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