Islamic Financial Services

Dubai 2015 Islamic Financial Services

Islamic finance is a highly competitive market in Dubai and the emirate is angling to become a leading centre for the sector. The UAE’s Islamic banks hold about 7% of global Islamic banking assets and have a market share of roughly 25% locally. The takaful segment has grown steadily since 2009 and this trend looks set to continue: total takaful contributions reached $1.16bn in 2013, up from $1.03bn in 2012. The UAE has been the world’s second-largest issuer of sukuk behind Malaysia, with $47.88bn issued between 1996 and 2013. Dubai has taken on a leadership role in shaping the future of sukuk as a financial instrument. In 2014 the emirate sponsored discussions and roundtables, with an eye to ultimately establishing a globally integrated sukuk market with harmonised structures that are less risky and easier for investors to understand.

This chapter contains an interview with Adnan Chilwan, CEO, Dubai Islamic Bank.

Cover of The Report: Dubai 2015

The Report

This chapter is from the UAE: Dubai 2015 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Adnan Chilwan, CEO, Dubai Islamic Bank 
Adnan Chilwan, CEO, Dubai Islamic Bank: Interview