Sharjah Financial Services Sector Research Highlights

Analysis

What is the post-pandemic future of global Islamic banking?
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While Islamic banks emerged relatively unscathed from the 2008 global financial crisis, Covid-19 is having a deeper impact. Compared to conventional financial institutions, Islamic banks are more exposed to small and medium-sized enterprises (SMEs), microfinance and retail lending – particularly in Asia. The industry was on track for strong growth in 2020, but due both to the pandemic and oil price…

Analysis

What new financial technologies emerged during the pandemic?
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The Covid-19 pandemic has led to a significant acceleration of digital transformation. This trend is especially apparent in financial services, where the health crisis prompted an overhaul of legacy processing systems and the widespread implementation of what are known as ABCD technologies – a catch-all term that encompasses artificial intelligence (AI) and automation, blockchain and bitcoin, cloud…

Analysis

Ethical investments to contribute to the GCC’s post-pandemic recovery
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The Covid-19 pandemic has raised awareness among GCC countries of the importance of environmental, social and governance (ESG) standards. If current trends continue, ESG could become a valuable element of the region’s recovery. ESG standards are used to evaluate potential investments, as well as to enable business leaders to formulate responsible and sustainable corporate strategies. Environmental…

Overview

Digitalisation and consolidation helps Sharjah’s financial sector grow
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The size of Sharjah’s financial services sector has grown steadily over the years, due in part to its quick response to changes that includes the rapid adoption of international best practices for banking. More recently, the banking industry has expanded its offering of digital services, particularly in response to the economic disruption caused by the Covid-19 pandemic, putting it in a good position…

Interview

Ahmad Abu Eideh, CEO, United Arab Bank: Interview
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Interview:Ahmad Abu Eideh How has the Covid-19 pandemic affected banks’ asset quality and profitability, and to what extent are stimulus measures facilitating recovery? AHMAD ABU EIDEH: The pandemic affected all sectors of the economy, and the full extent of its impact will only unfold as more data becomes available. The economy has been in a reactive stage rather than a proactive one, as…

Chapter

The Report: Sharjah 2021: Financial Services
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Sharjah’s financial services sector has grown steadily over the years, due in part to its quick response to changes, including the rapid adoption of international best banking practices. The banking industry has expanded its digital services, particularly in response to the economic disruption caused by the Covid-19 pandemic, putting it in a good position for future growth as the world transitions…

Country Report

The Report: Sharjah 2021
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As it seeks to capitalise on the innovative opportunities presented by the Fourth Industrial Revolution, Sharjah benefits from developed transport and logistics infrastructure, access to the Gulf and the Gulf of Oman, and a well-connected international airport. A number of initiatives aimed at developing the economy and encouraging investment inflows have been implemented over the past decade. Sha

Covid Response Report

Report: How did the Covid-19 pandemic impact remittance flows from the UAE?

The UAE was relatively well placed to withstand the sudden shock of the Covid-19 pandemic thanks to its diversified economy, record forex reserves, moderate public debt levels, high credit rating and strong net external asset position. Home to a large number of expatriate workers, the country had become the world’s second-largest source of remittance outflows before Covid-19. Despite the subsequent…

Economic View

Ahmad Abu Eideh, CEO, United Arab Bank

On ensuring banking resilience and the increasing importance of digitalisation in the post-Covid-19 world In what ways has Covid-19 affected asset quality and profitability in the banking sector, and to what extent are stimulus measures by the UAE government facilitating recovery? AHMAD ABU EIDEH: Covid-19 had an effect across all sectors of the economy and the full extent of its impact will…

Economic Snapshots

Sharjah Economy Infographic 2017: Commerce and Culture

Among the most diversified economies within both the UAE and the GCC, Sharjah has long played an important cultural and economic role in the region. Home to three free zones, 16 museums and a number of annual festivals that attract visitors from around the world, the emirate continues to perform in the realms of commerce and culture. Sharjah has developed strong manufacturing, tourism and logistics…

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Sharjah Financial Services Sector Research Highlights

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