The Economy of the UAE
Finance, Free Zones and Fintech
Free-zone financial centres such as DIFC and ADGM attract banks and funds by offering English-law systems and modern regulation.
A financial hub emerges.
DIFC and ADGM
Dubai and Abu Dhabi each have financial free zones with their own common-law courts.
Attraction
Banks, asset managers and fintech firms use them as regional headquarters.
New areas
The UAE has been early in creating rules for digital assets.
Competition
Singapore, London and Hong Kong compete for the same business.
A regional headquarters
A global bank places its Middle East headquarters in DIFC.
Assuming finance is only banks
New services also matter.
Key takeaways
- DIFC and ADGM are financial zones.
- They use common-law courts.
- Digital assets are regulated.
- Competition is global.
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