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Dated: 10th January, 2010, time: 3.49 am
Introduction to UAE
The UAE consists of seven states, termed emirates, which are Abu Dhabi, Dubai, Sharjah, Ajman,
Umm al-Quwain, Ras al-Khaimah and Fujairah. The capital and second largest city of the United
Arab Emirates is Abu Dhabi. It is also the country's center of political, industrial, and cultural
activities. The United Arab Emirates has the world's sixth largestoil reserves. and possesses one
of the most developed economies in the Middle East. The United Arab Emirates is a founding
member of the Cooperation Council for the Arab States of the Gulf, and a member state of the
Arab League. It is also a member of the United Nations,Organisation of the Islamic Conference,
and the World Trade OrganizationAlthough the United Arab Emirates is becoming less dependent
on natural resources as a source of revenue, petroleum and natural gas exports still play an
important role in the economy, especially in Abu Dhabi. A massive construction boom, an
expanding manufacturing base, and a thriving services sector are helping the UAE diversify its
economyAs a member of the Gulf Cooperation Council (GCC), the UAE participates in the wide
range of GCC activities that focus on economic issues. These include regular consultations and
development of common policies covering trade, investment, banking and finance, transportation,
telecommunications, and other technical areas, including protection ofintellectual property rights
United Arab Emirates profile
States under United Arab Emirates
Abu dhabi
Dubai
Sharjah
Ajman
Umm al-Qaiwain
Ras al-Khaimah
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http://en.wikipedia.org/wiki/Emiratehttp://en.wikipedia.org/wiki/Abu_Dhabi_(emirate)http://en.wikipedia.org/wiki/Dubaihttp://en.wikipedia.org/wiki/Sharjah_(emirate)http://en.wikipedia.org/wiki/Ajmanhttp://en.wikipedia.org/wiki/Umm_al-Quwainhttp://en.wikipedia.org/wiki/Ras_al-Khaimahhttp://en.wikipedia.org/wiki/Fujairahhttp://en.wikipedia.org/wiki/Abu_Dhabihttp://en.wikipedia.org/wiki/Politicshttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Culturehttp://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserveshttp://en.wikipedia.org/wiki/Oil_reserves_in_the_United_Arab_Emirateshttp://en.wikipedia.org/wiki/Oil_reserves_in_the_United_Arab_Emirateshttp://en.wikipedia.org/wiki/Middle_Easthttp://en.wikipedia.org/wiki/Cooperation_Council_for_the_Arab_States_of_the_Gulfhttp://en.wikipedia.org/wiki/Arab_Leaguehttp://en.wikipedia.org/wiki/United_Nationshttp://en.wikipedia.org/wiki/Organisation_of_the_Islamic_Conferencehttp://en.wikipedia.org/wiki/World_Trade_Organizationhttp://en.wikipedia.org/wiki/Natural_resourcehttp://en.wikipedia.org/wiki/Petroleumhttp://en.wikipedia.org/wiki/Natural_gashttp://en.wikipedia.org/wiki/Abu_Dhabihttp://en.wikipedia.org/wiki/Cooperation_Council_for_the_Arab_States_of_the_Gulfhttp://en.wikipedia.org/wiki/Intellectual_propertyhttp://en.wikipedia.org/wiki/Emiratehttp://en.wikipedia.org/wiki/Abu_Dhabi_(emirate)http://en.wikipedia.org/wiki/Dubaihttp://en.wikipedia.org/wiki/Sharjah_(emirate)http://en.wikipedia.org/wiki/Ajmanhttp://en.wikipedia.org/wiki/Umm_al-Quwainhttp://en.wikipedia.org/wiki/Ras_al-Khaimahhttp://en.wikipedia.org/wiki/Fujairahhttp://en.wikipedia.org/wiki/Abu_Dhabihttp://en.wikipedia.org/wiki/Politicshttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Culturehttp://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserveshttp://en.wikipedia.org/wiki/Oil_reserves_in_the_United_Arab_Emirateshttp://en.wikipedia.org/wiki/Middle_Easthttp://en.wikipedia.org/wiki/Cooperation_Council_for_the_Arab_States_of_the_Gulfhttp://en.wikipedia.org/wiki/Arab_Leaguehttp://en.wikipedia.org/wiki/United_Nationshttp://en.wikipedia.org/wiki/Organisation_of_the_Islamic_Conferencehttp://en.wikipedia.org/wiki/World_Trade_Organizationhttp://en.wikipedia.org/wiki/Natural_resourcehttp://en.wikipedia.org/wiki/Petroleumhttp://en.wikipedia.org/wiki/Natural_gashttp://en.wikipedia.org/wiki/Abu_Dhabihttp://en.wikipedia.org/wiki/Cooperation_Council_for_the_Arab_States_of_the_Gulfhttp://en.wikipedia.org/wiki/Intellectual_property8/2/2019 Introduction to UAE financial sector and institiute
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Fujairah
Real GDP growth
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The following is the Gross Domestic Product of each Emirate in the U.A.E. (shown ingraph). All data is estimated from 2007. American dollar to Emirati Dirham is calculated
with 3.673 DHs to 1 USD pegged exchange rate.
Abu Dhabi - 110 billion American dollars or 404.03 billion Emirati Dirhams.
Annual Growth rate: 12%
Dubai - 54.315 billion American dollars or 199.5 billion Emirati Dirhams.
Annual Growth rate: 19.2%
Sharjah - 18.622 billion American dollars or 68.4 billion Emirati Dirhams.
Annual Growth rate: 13.2%
Ajman - 2.722 billion American dollars or 9.99 billion Emirati Dirhams. Annual
Growth rate: 27%
The three remaining Emirates (Umm al-Qaiwain, Ras al-Khaimah and
Fujairah) contribute very little to the overall Gross Domestic Product of the U.A.E. and,
therefore, their GDP is not calculated often. The difference between the GDP for the entire
United Arab Emirates and the GDP of the four Emirates listed above is about 7 billion
American dollars or 25.711 Emirati Dirhams.
Major industries Aluminum
Smelting
Cement
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Fish Processing
Fish Meal
Natural Gas Liquefaction
Oil Production
Steel Milling
Major exporters Japan South
Korea
Thailand
India
Major importers United States
China
India
Germany
Japan
United Kingdom
France
Italy
Main exports and imports
Debt outstandingUAE has $184 billion debt outstanding in 2009
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SPECIALIZED FINANCIAL INSTITUION
SUMMARY
Banking Equipment
OMA Emirates company
Sharjah-based company that markets banking automation equipment, custom-made
banking software products, computer stationery, and credit card accessories; products: cash
dispensers, vending machines, imprinters etc
Banks 44 BanksBanking Equipment 1 company
Bankers Training
Institutes
2 institutes
Brokerages 7 companies
Exchanges 6 companies
Financial
Organizations
2 organizations
Financial Services 55 companiesHousing Finance 4 companies
Insurance 43 companies
Investment
Companies
24 companies
Foreign
bank
28 banks
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Bankers Training Institutes
i. Emirates Bank
Group
Financial group with companies in banking, insurance, financial
services, credit cards, investment banking, bankers' training, property
investment and real estate services
ii. Emirates Institute
for Banking and
Financial Studies
Organization set up to provide professional and quality training and
educational programmes, studies, and services for the banking and
financial sector and develop UAE human resources
Brokerages
i. Century Financial
Brokers LLC
UAE's leading brokers of financial instruments; based in Dubai; products:
foreign exchange trading, commodity futures, CFD stocks, Indian stocks
& mutual funds, base metals & derivatives
ii. Al Dhafra Financial
Broker LLC
Providers of online stock trading services based in Abu Dhabi; division of
the ABER Group; offers access to Dubai Financial Market (DFM), Abu
Dhabi Securities Exchange(ADX) & the Dubai Gold & Commodities
Exchange (DGCX)
iii. Al Mal Capital Diversified, multi-line investment bank, licensed & regulated by the
Central Bank of the United Arab Emirates & headquartered in Dubai;
offers investment products & services for institutions, banks & wealthy
individuals
iv. Amwal International Full-service brokerage firm located on Khaleefa Street, Abu Dhabi; offers
a full range of investment products & services, including trading on the
Abu Dhabi Stock Market (ADSM), Dubai Financial Market (DFM) etc
v. Dubai International
Securities LLC
Brokerage house registered in both the Abu Dhabi & the Dubai financialsecurities markets; services include equity brokerage, mutual funddistribution, PMS, advisory & syndication of QIP / pre-IPO issues etc
vi. MAC Sharaf
Securites
Stockbrokers with licenses on all three UAE markets -- the Dubai
Financial Market (DFM), Abu Dhabi Securities Exchange (ADX) & the
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http://www.emiratesbank.ae/http://www.emiratesbank.ae/http://www.eibfs.com/http://www.eibfs.com/http://www.eibfs.com/http://www.centurybrokers.com/http://www.centurybrokers.com/http://www.dhafra.ae/http://www.dhafra.ae/http://www.almalcapital.com/http://www.amwaluae.com/http://www.dis.ae/http://www.dis.ae/http://www.mac-sharaf.com/http://www.mac-sharaf.com/http://www.emiratesbank.ae/http://www.emiratesbank.ae/http://www.eibfs.com/http://www.eibfs.com/http://www.eibfs.com/http://www.centurybrokers.com/http://www.centurybrokers.com/http://www.dhafra.ae/http://www.dhafra.ae/http://www.almalcapital.com/http://www.amwaluae.com/http://www.dis.ae/http://www.dis.ae/http://www.mac-sharaf.com/http://www.mac-sharaf.com/8/2/2019 Introduction to UAE financial sector and institiute
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Dubai International Financial Exchange (DIFX); located on Sheikh Zayed
Road, Dubai
vii. Orient Financial
Brokers
Foreign exchange, commodities & money market brokerage firm based in
Dubai; offers online foreign exchange, precious metals, commodities,
treasuries, share & stock index CFDs (contracts for difference) services
Exchanges
i. Abu DhabiSecurities Exchange
(ADX)
Governmental entity set up to provide investors an opportunity to invest
capital in the market for the benefit of the national economy
ii. Dubai Financial
Market
Government entity set up to create a fair, efficient and transparent
marketplace that serves the interest of the national economy; provides a
forum for the trading of securities
iii. Dubai Gold &
Commodities
Exchange
Fully automated, screen-based online commodities exchange based in
Dubai; joint venture between the Dubai Metals and Commodities Centre
(DMCC), Government of Dubai, Financial Technologies (India) Ltd, &
Multi Commodity Exchange of India
iv. Nasdaq Dubai
(formerly DIFX)
International stock exchange between western Europe and east Asia;
opened on 26 September 2005; offers trading in equities, derivatives,Dubai gold securities, Islamic securities, debt, funds, REITs, ETFs and
structured products
v. Borse Dubai Holding company for Dubai Financial Market (DFM) & Dubai
International Financial Exchange (DIFX); DFM operates as a secondary
market for securities etc, while DIFX deals in equities, Sukuk,
conventional bonds & structured products
vi. Dubai Mercantile
Exchange (DME)
First energy futures exchange in the Middle East; set up as a 50/50 joint
venture between the New York Mercantile Exchange (NYMEX) and a
subsidiary of Dubai Holding but the equity stakes have now been more
widely dispersed
Financial Organizations
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http://www.orientfinance.com/http://www.orientfinance.com/http://www.adx.ae/http://www.adx.ae/http://www.adx.ae/http://www.dfm.co.ae/http://www.dfm.co.ae/http://www.dgcx.ae/http://www.dgcx.ae/http://www.dgcx.ae/http://www.nasdaqdubai.com/http://www.nasdaqdubai.com/http://www.borsedubai.ae/http://www.dubaimerc.com/http://www.dubaimerc.com/http://www.orientfinance.com/http://www.orientfinance.com/http://www.adx.ae/http://www.adx.ae/http://www.adx.ae/http://www.dfm.co.ae/http://www.dfm.co.ae/http://www.dgcx.ae/http://www.dgcx.ae/http://www.dgcx.ae/http://www.nasdaqdubai.com/http://www.nasdaqdubai.com/http://www.borsedubai.ae/http://www.dubaimerc.com/http://www.dubaimerc.com/8/2/2019 Introduction to UAE financial sector and institiute
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Arab Monetary Fund
Establishment 1976
Member countries Member Countries (22) are: Jordan, United Arab Emirates, Bahrain, Tunisia, Algeria,
Djibouti, Saudi Arabia, Sudan, Syria, Somalia, Iraq, Oman, Palestine, Qatar, Kuwait,
Lebanon, Libya, Egypt, Morocco, Mauritania, Yemen, Comoros.
Objective Regional Arab organization set up to correct disequilibria in the balance
of payments of member states, strive for the removal of restrictions on
current payments between member states, etc; based in Abu Dhabi
management Top management of the AMF consists of the Board of Governors (General Assembly), and the
board of executive directors chaired by the Director General Chairman of the board
location Arab Monetary Fund Head Office is located in the city of Abu Dhabi, United Arab Emirates.The Fund is hosted by the government of UAE.
Arab trade financing program
establishment 1989
shareholders 44 including Arab financial org.,regional monitory fund, central bank
etc
Paid up capital USD 500 million
objective Specialized financial institution whose mission is to contribute to the
development of Arab trade and to the increase of the competitive
capabilities of Arab producers and exporters
Housing Finance
Amlak Finance Finance company majority owned by Emaar, a property developer in
Dubai; provides real estate finance for land purchase, construction,
development of existing properties and purchase or construction of
commercial properties; also provides auto finance
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Private Housing Finance
Scheme (PHFS)
Scheme by the Emirates Bank group that aims to support UAE nationals
to have an appropriate residential property, by granting housing loans to
establish, buy or refurbish residential properties without interest up to 25
years for Dubai nationals
Real Estate Bank Bank that provides real estate credit to UAE nationals, companies &
cooperative societies; based in Abu Dhabi, with offices in Dubai; offers
loans for real estate projects, manages real estate, manages funds of the
Sheikh Zayed Housing Programmed etc
Tamweel Home Finance Housing finance company based in Dubai; has a variety of home finance
options
Financial investment banks
Arab emirates investment bank
Establishment February 1976
Authorized capital 340.9 millionPaid up capital 80.00 million
Directors and Management Omar Abdulla Al Futtaim - Chairman
Butti Obaid Al Mulla - Vice Chairman
Marwan Anthony Shehadeh - Director
Chief Executive Officer Khaled Sifri
Auditors M/s. Ernst & Young, Dubai
Solicitors
M/s. Afridi & Angell, Dubai
objective AEI Bank's Investment Management Team has a proven track recordand is ideally equipped to help its customers benefit from the potentialof the world's major financial markets
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Licensed Licensed by the Central Bank of the U.A.E. as an Investment Bankaccording to Article 113 of Union Law No.10
Performance of sectors
Industry SectorIndustry is a mega sector which contributes most in UAE GDP.
Within its function theMinistry of Finance and Industry is accountable forsupervising the organization of the Industry affairs, furthermore, to urge therevenues within the rules and principles of the provisions of the Federal Law No. 1for 1979. The Ministry shall exercise its functions through the industrialdevelopment department, which runs as follows:
Prepare studies and researches, and initiates the necessary policies and
procedures to organize and develop the industrial activities, and the existingindustries, and provide the necessary tools of success.
Prepare and evaluate the pre-feasibility studies for the industrial projects, as wellas the studies of expansion in the existing factories.
Licensing and registration of the industrial projects in the state, and the issue ofpreliminary approvals to set up the projects, and the licenses for manufacturingproduction.
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Perform the industrial surveys in the state, and furnish information and data orrelevancy, disseminate the industrial awareness by issues or Industrial Affairsnewspapers, participate in holding of exhibitions, and convening of industrialseminars and conferences.
Conferment of privileges for the industrial projects in accordance with the law,
issue of price preference certificates, and rehabilitation of the national industrialestablishments, according to the rules and conditions followed.
co-ordinate and cooperate with the official entities responsible for the industrialdevelopment, and organize the communication and collaboration with the gulf,Arab and international organizations and institution
Main industries of UAE
Aluminum
Smelting
Cement
Fish Processing
Fish Meal
Natural Gas Liquefaction
Oil Production
Steel Milling
Mega industry of UAE
Thegas and oil industry is still the basic and most important of the UAE's industries. Inthe Emirate of Abu Dhabi, it is run and controlled by the Supreme Petroleum Councilunder the chairmanship of UAE President His Highness Sheikh Khalifa Bin Zayed Al-Nahyan, . Abu Dhabi National Oil Company (ADNOC), which was established in 1971,controls the gas and oil affairs in the Emirate. ADNOC is fully owned by the Governmentof Abu Dhabi, and is the parent company, or owner of all or majority of the shares, of 15companies known as the "ADNOC Group of Companies". These companies are involvedin oil and gas exploration and production, petrochemical industries, marine transportation,distribution of petroleum products, exploration and production services and facilities, andnatural gas processing
EMIRATES INDUSTRIAL BANK
Goals and
objective
The Bank aims both to aid the establishment of new industries andconsolidate and strengthen the existing ones
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shareholders Government of United Arab Emirates 51.0000%
Abu Dhabi Commercial Bank 8.6465%
Abu Dhabi National Insurance Co. 8.2925%
Meshreq Bank 8.2925%Emirates Bank International 7.4755%
National Bank of Abu Dhabi 4.1465%
National Bank of Dubai 4.1465%
National Bank of Sharjah 2.5000%
Middle East Bank 2.5000%
Al Ain Ahlia Insurance Co. 1.0000%
Oman Insurance Co. 1.0000%
Dubai Insurance Co. 0.5000%
Al Dhafra Insurance Co. 0.2500%
Arab Emirates Investment Bank 0.2500%
Board of dirctors H.E. Dr. Mohammed K. Bin Kharbash ChairmanH.H. Sh. Ahmed Bin Zayed Al Nahyan Vice Chairman8 members
Management
team
10 members
Head office 6
th
Floor, Arab Monetary Fund BuildingCorniche Road, Abu DhabiP.O. Box 2722, Abu Dhabi
Branch office 20th Floor, ARBIFT TowerBaniyas Street, DubaiP.O. Box 5454, Dubai
website http://www.emiratesindustrialbank.net/
Performance of industrial sector
The UAE industrial sector includes food, beverages and tobacco, metals, chemicals, fertiliers,cement, and paper and packaging firms as well as industrial services manufacturers, among others.
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The overall industrial sector weathered the second half of 2008s economic slowdown well on the back of a strong export and re-exports market.
However, 2009 remains a challenging year with the manufacturing climate expected to weaken.
Heightening the concern is a financing and credit environment that is currently in turmoil.
Increased competition and weakened domestic demand will limit manufacterers' ability to pass oncosts to end consumers.
In addition, it is increasingly difficult to obtain financing amid a tightened credit market which islimiting companies' plans for expansion and putting increased pressure on managing workingcapital. Whats' more, employment levels, inventories and manufacturers' order backlogs are alsosinking
Agriculture sector
Agriculture sector contribute very little in UAE GDP.Ministry of agriculture and fisheries assist the agricultural sector
Minister of Agriculture and Fisheries:Saeed Mohammed Al Ragabani
Ministry's Responsibilities and Tasks
Ministry of Agriculture and Fisheries is aiming to achievement of agricultural development
plans & programs, formulation of the agricultural policies and initiation of relevantlegislations for the
Areas of responsibilities:
Creation of condusive environment for citizens to work in agricultural activities (Cropping, livestock & fishing)
Cooperation with local government agents to spread vegetation and combat desertification and land degradation.
Encourage private sector to contribute to plant & livestock development endeavors.
Application of pests & epidemics control programs & strategies.
Supply support to marketing of national production on an economical framework basis.
Tighten control on quality and health safety measures of food and seed products in coordination with the other
competent organizations and institutions.
Establishment and management of research and applied studies centers and extension fields.
Cooperation and coordination with the Gulf Cooperation Council states with respect to the agricultural and
environmental issues.
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Performance
Although highly arid, the United Arab Emirates has been able to develop a thriving
agricultural industry. Despite rapid population growth, it is now self-sufficient in some
vegetable crops throughout the year. Small-scale farming based upon exploitation of
underground water resources began in desert oases and mountain valleys at least 5000
years ago, but the lack of rainfall made large scale agriculture impossible.
Now, modern irrigation techniques and water from deep artesian aquifers and from
desalination has made it possible for large areas to be cultivated. There are now more than
100,000 hectares of cultivated land, producing a range of crops, including salad vegetables,
potatoes, fruit and fodder, as well as flowers, grown mainly for export to Europe. In
traditional mountain farms, production of tropical fruits like papaya and citrus as well as
tobacco continues. The Government supports agriculture through preparation of land for
farms which are distributed free to citizens, and follows this up with a free agricultural
extension service. Farmers are also offered a guaranteed price for produce and subsidized
machinery and fertilizers
Financial service sector
Performance of insurance sector
The UAE insurance industry is projected to grow between 5% and 8% this year despite
negative impact of the financial crisis on the industry
The sector is expected to stabilize this year with the dampening of economic slowdown.Insurance premiums surged from Dh14.59 Billion in 2007 to Dh18.3 Billion last year(2008), resulting in overall industry growth of 25.42%. Property insurance premiums alsoposted growth of 31.1%, taking premium revenue from Dh11.9 Billion in 2007 to Dh15.6billion in 2008.Domestic insurers total premiums for property and liability insurance stood at Dh14.5Billion last year. Claims ratio (excluding re-insurance share) for property and liability
insurance declined in 2008 to 57.6% against 62.2% in its previous year (2007)
Performance of banking sector
The UAE's banking sector has weathered the international financial crisis and now stands
on solid ground, says Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Higher
Education and Scientific Research.
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"The outlook for all the UAE's banks is very positive," he added. "Without government
support the banks would not have weathered the crisis, especially during the difficult first
phase. Today, we confirm that the banks have regained the full confidence of their clients.
Their performance has improved and sufficient liquidity is available. All of this confirms
that the UAE's economy is sound."
He pointed out that crises in the banking sector were not new.
"There have been crises, the latest of which was the international financial crisis. But
undoubtedly we got through them by virtue of wise political leadership, which does not
limit the support it gives to the state's institutions, including economic institutions and
banks(30 nov)
Performance of stock exchange
due to global financial crisis and Dubai debt crisis ,there was a visible fall in stock
exchange market .but now recovery has been seen in the stock exchange market. and every
thing is going to be normal now.
Dubai financial crisis
Summary
Dubai world has taken loans from any institution for developing Dubai. it spent lots of money on real
estate and now there are no enough buyers to buy property because of global crises. due to this company
is not able to repay its loan installments. Since all the loans are guaranteed by Dubai government Dubai
has requested his investors to extend his time limit .the total liabilities are almost 80 $ billion. it is not
such a big amount to impact on economy but it has a great impact on banking and real estate sector.
Debt does matter eventually
What are the crisis
Dubai crisis called by economists a result of real estate bubble blast when on November 2009, Dubaiproposed to delay payment of its debt installment which include
Liabilities on DUBAI WORLD $59 billion
Liabilities on NAKEEL $26 billion
Total debt $80 billion
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All the debts are guaranteed by Dubai government.Dubai World is an investment company that manages and supervises a portfolio of businesses andprojects for the Dubai government across a wide range of industry segments and projects that promoteDubai as a hub for commerce and trading andNakheel, its property arm, which built The Palm Islandsand The World developments
Reasons of crisis
Due to global financial crisis 2009, dubai real estate market experienced slowdown
By early 2009,the situation had worsen with global financial crisis taking heavy tollof on the property value,construction and e,ployment.
ducbai state is more debt,less eqity.
As feburary 2009,dubai foreign debt was estimated approx. 90$billion.it contributesfailure of key business of dubai.
Impacts of cisis banks
There is meaningfull impact on banking across ASIA e.g: standard chartardbank,HSBC,singapor etc beacuase they are most exposed in thet region.
Those banks who are providing financial assistance in project are seeing their fuurein danger.
Their share prices are falling.
Currency market
Dubai debt fear continues to drive investors away from risk. So market is shapely slow.
Lay off
Due to major fall in construction business the labor is asked to go home.
Depreciation of dirham
Valuation of AED saw a drop.
Commodity market
The Dubai debt crisis seems to be hitting gold prices as investors are shifting their focus to the US dollarfrom yellow metal. During all major global credit problems, US dollar has been the safe bet -basedbullion
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UAE.
Central bank supporting
Central board has already discussed that its board has discussed pals to facilitate for supporting real
estate lending in Dubai as well as rest of UAE.
The United Arab Emirates Central Back announced that it would stand behind the foreign and domestic
banks in Dubai and also offered additional money in a move to calm the regional markets .The Asian
stock markets which had s great fall, rebounded back after the United Arab Emirates moved to contain
the fallout from Dubais debt crisis.
Conclusion and findings
Dubai expects financial support from ABU DHABI because it is oil Rich County. And central bank of80 $ billion. it is not such a big amount to impact on economy but it has a great impact on banking andreal estate sector.
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internationalbusiness.wikia.com/wiki/U.A.E._G...7. http://www.uae.gov.ae/Government/industry.htm8. http://admi.net/world/ae/#agr9. http://www.indexuae.com/Top/Business_and_Economy/Finance/Insurance/510. http://www.atfp.org.ae/11. http://www.emiratesindustrialbank.net/highlights.htm#12. http://www.datadubai.com/directory/agricultural_research_companies.html13. http://www.uae.gov.ae/mofi/english/industry/e_inddev_sector.htm14. http://www.atlapedia.com/online/countries/unitedar.htm15. http://www.amf.org.ae/aboutamf
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16. www.docstoc.com/docs/19420543/Dubai-crisis -17. http://www.news-relay.com/18. www.dailystar.com.19. blog.mises.org/archives/011119.asp20. www.youtube.com
21. www.telegraph.co.uk22. www.expatexchange.com23. www.araboo.com24. musicandyou.com/news/uae-exchange-&-financial-services.html25. musicandyou.com/news/uae-exchange-&-financial-services.html26. www.arabianbusiness.com27. www.uaeinteract.com28. www.ameinfo.com29. www.bi-me.com/
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