DIFC – Wealth and Asset Management Report 2017: Mapping Opportunities in the MESA Region

DIFC – Wealth and Asset Management Report 2017: Mapping Opportunities in the MESA Region

For the Middle East, while the chronic instability that has plagued some of the countries in the region since the onset of the Arab Spring has held back their economic growth, it has had little effect on its main financial markets. The biggest influence on markets in the region, particularly in the countries of the Gulf Cooperation Council, however, has been continued low oil prices.

Dubai, leading the Global Financial Center Index (GFCI) in the MEASA regions has the aspiration to provide a bridge for capital flowing to South Asia, Africa and the Middle East due to their central locations and convenient time zones relative to Europe. While Bahrain has long been the jurisdiction of choice for many fund managers operating within the GCC, growth slowed there in the wake of the financial crisis. Political instability during the Arab Spring also hit confidence and many fund managers who moved to Dubai at that time have stayed despite a return to stability in Bahrain. The United Arab Emirates has several different regimes for fund managers but most managers use one of the free zones, particularly the Dubai International Financial Centre (DIFC).

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