Major opportunities in uae for financial services

1. In a region that is heavily dependent on oil, the recent news about price hikes for oil have been a huge benefit to in the United Arab Emirates, along with a growth in manufacturing. With the UAE's position as a booming tourism and trade hotspotit's the home of the world's third-busiest airport and the ninth busiest port for container cargo -which means the country's 3.3 percent growth in economic activity is predicted throughout 2018. Trade with the UAE Commodity trading -- especially via trading on the Dubai Gold & Commodities Exchange (DGCX) is regarded among the top frequent transactions for financial services within the UAE. Did you know Dubai is on track to be the first city in the world to be a blockchain? Of the seven emirates Dubai particularly is of great importance to the world's financial services industry, providing the marketplace for the Takaful (Islamic insurance) market and an active Sukuk (Islamic bonds) market. Sukuk trade has surpassed $149 billion, according to the London Stock Exchange. In addition there is there is the Dubai International Finance Centre (DIFC) as well as The Abu Dhabi Global Market (ADGM) each offer a variety of opportunities, especially with regard to private banking and asset administration. However transactions in UAE isn't always easy. In 2016, in fact the UAE market for stocks made media for its low volumes of trade. In the Dubai Financial Market (DFM) the volume dropped by 60.3 percent over a two year period, and 58.3 percent for the Abu Dhabi Securities Exchange (ADX). In total, it was predicted that as high as 20% of broker firms were forced to cease activities. The reason? Economic volatility. Despite the high-profile diversification to non-oil products in Dubai and elsewhere, the UAE overall is still heavily dependent on oil as a key factor in economic growth. Although oil prices appear to be stabilising and improving but volatility in this particular region remains a problem. A Connected UAE This fluctuation highlights the necessity for connectivity with low latency, to ensure that international financial services are available in the most efficient time. This is particularly relevant in an extremely promising area of development, yet still relies heavily on the one, unstable commodity.

2. UAE is the one Arab nation that has a spot in the World Competitiveness leaderboards, rising to 10th in the year 2017. There is also evidence that digital transformation is taking place in the UAE and not just with their eServices tool that allows trader to obtain a New Investor Number online, but also through the DFM trading floor that allows closing and pre-opening sessions online. For financial services, having a real-time and secure connection has never been more essential. The Future Vision 2021 The major issues facing the financial sector appear likely to be addressed in Vision 2021 -- also called"the Dubai Plan 2021 -- which seeks to ensure an even greater diversification in Dubai UAE away from dependency on oil. The intention is to allow the UAE to cement its status to be an economically, commercial and tourism hub of the world, with an emphasis on the growth of non-oil GDP. So far, the strategy has already begun to show evidence of its success as the UAE becoming the first Arab nation to appear at the top of the World Competitiveness leaderboards, rising to the 10th position in 2017. Dubai is currently offering a variety of options for private traders as well as High-frequency Trading (HFT) as well as an ongoing major activity in Dubai as well as the larger Emirates region. The UAE seems to be an attractive area in the field of financial services.