IDEAS home Printed from https://ideas.repec.org/a/cvt/journl/y2024id979.html

Development of the UAE financial system in a rapidly changing economic landscape

Author

Listed:
  • S. Yu. Babenkova

Abstract

The UAE financial system is the country’s leading non+hydrocarbon sector which has shown good growth in the post–pandemic period. The country’s ability to become a leader in innovative technology not only among the GCC countries but also among the countries in the MENA region is beyond doubt. After the global financial crisis, which also affected the wealthy emirates of Dubai and Abu Dhabi, the UAE government took the vector to create a risk–oriented innovative financial system. The creation of major international financial centers, such as Dubai International Financial Center (DIFC) and Abu Dhabi Global Market (ADGM), was the logical concept for creating the above system. Islamic financial institutions represented in the UAE operate within the framework of clear rules and standards that have been implemented by supervisory and regulatory authorities, precisely to build high–quality and transparent relationships between counterparties not only within one country, but also at the international level.

Suggested Citation

  • S. Yu. Babenkova, 2024. "Development of the UAE financial system in a rapidly changing economic landscape," Scientific notes of the Russian academy of entrepreneurship, JSC “Publishing Agency “Science and Educationâ€, vol. 23(1).
    • Handle: RePEc:cvt:journl:y:2024:id:979
    DOI: 10.24182/2073-6258-2024-23-1-18-36
    as

    Download full text from publisher

    File URL: https://www.scinotes.ru/jour/article/viewFile/979/843
    Download Restriction: no
    File URL: https://libkey.io/10.24182/2073-6258-2024-23-1-18-36?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Vijaya Kumar, 2016. "Evaluating the financial performance and financial stability of national commercial banks in the UAE," International Journal of Business and Globalisation, Inderscience Enterprises Ltd, vol. 16(2), pages 109-128.
    2. S. Yu. Babenkova, 2022. "The development of the financial system of Saudi Arabia as one of the key areas in the country’s economy," Entrepreneur’s Guide, JSC “Publishing Agency “Science and Educationâ€, vol. 15(1).
    3. Hajer Zarrouk & Teheni El Ghak & Elias Abu Al Haija, 2017. "Financial development, Islamic finance and economic growth: evidence of the UAE," Journal of Islamic Accounting and Business Research, Emerald Group Publishing Limited, vol. 8(1), pages 2-22, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Adil Saleem & Ahmad Daragmeh & R. M. Ammar Zahid & Judit Sági, 2024. "Financial intermediation through risk sharing vs non-risk sharing contracts, role of credit risk, and sustainable production: evidence from leading countries in Islamic finance," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(5), pages 11311-11341, May.
    2. Saleem, Adil & Zahid, R.M. Ammar & Sági, Judit, 2025. "Differential impact of adopting Islamic banking: A quasi-experimental approach," Research in International Business and Finance, Elsevier, vol. 76(C).
    3. Junaidi Junaidi, 2025. "Financial Development Contribution to Economic Growth and Poverty Reduction," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(1), pages 4516-4537, March.
    4. Islam Abdeljawad & Mamunur Rashid & Muiz Abu Alia & Rana Qushtom & Mahmoud Irshaid & Ahmad Sahyouni, 2024. "Cushion hypothesis and credit risk: Islamic versus conventional banks from the MENA region," PLOS ONE, Public Library of Science, vol. 19(7), pages 1-23, July.
    5. Chiad, Faycal & GHERBI, Abdelhalim, 2024. "The Role of Islamic Banks in Promoting Economic Growth and Financial Stability: Evidence from Saudi Arabia," MPRA Paper 122409, University Library of Munich, Germany.
    6. Nafith Fayez AL-Hersh & Tajul Ariffin Masron, 2024. "The Role of Culture on Islamic Finance: A Comparative Analysis from Islamic Finance Permitting Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 13131-13159, September.
    7. Mohammed Mahmoud Mantai & Izlin Ismail & Obiyathulla Ismath Bacha, 2025. "Impact of dual banking system liquidity creation on economic activity," Economic Change and Restructuring, Springer, vol. 58(3), pages 1-25, June.
    8. Akintunde Olayeni & Anastasia Ogbo & Henry Okwo & Benjamin Chukwu & Chuka Ifediora & Charity Ezenwakwelu, 2021. "Green Strategy Effect on Financial and Environmental Performance: A Mediation Analysis of Product Quality," Sustainability, MDPI, vol. 13(4), pages 1-17, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cvt:journl:y:2024:id:979. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ð ÐµÐ´Ð°ÐºÑ†Ð¸Ñ (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.