Islamic Financial Services

Abu Dhabi Islamic Finance 2013
A significant proportion of the UAE’s Islamic financial services sector is based in Abu Dhabi. Home to two of the three largest Islamic banks in the country, three of its most successful takaful (Islamic insurance) firms and a multitude of sharia-compliant investment funds, the emirate is also emerging as an important regional centre of Islamic financing. Moreover, demand for Islamic mutual funds is rising, with sharia-compliant funds accounting for 27% of the UAE’s total of 89. In addition, demand for new investment products has driven a rise in the sukuk (Islamic bond) market. Looking ahead, while Abu Dhabi’s takaful players face potential challenges as a result of regulatory reform, particularly with regard to new solvency standards, a low penetration rate and increasing awareness of insurance products’ utility shows the potential of the domestic takaful market. This chapter includes an interview with Tirad M Mahmoud, CEO, Abu Dhabi Islamic Bank.
Cover of The Report: Abu Dhabi 2013

The Report

This chapter is from the UAE: Abu Dhabi 2013 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Tirad M Mahmoud, CEO, Abu Dhabi Islamic Bank
OBG talks to Tirad Al-Mahmoud, CEO, Abu Dhabi Islamic Bank