United Arab Emirates Banking & Financial Services Q4 2018
Despite only being founded in 1971, the UAE has become the financial hub of the Gulf Cooperation Council (GCC) area.Its banking, insurance and asset management sectors are leading the region and are expected to continue their tremendousgrowth. Deposits and credit growth are expected to improve due to the positive macroeconomic outlook and total gross premiumsare anticipated to increase by 6.8% in 2018, as the sector leads the GCC area. The insurance sector has also shown greatimprovements as it continues to grow with an average of 13.5% per year. The stock exchange sector, however, is second to SaudiArabia and its attraction has fallen to equity investors recently. Nevertheless, growing calls for consolidation within the market mightmake it a serious challenger to the Tadawul stock exchange.
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