The UAE Central Bank, established in Abu Dhabi, regulates the banking and monetary system. The are approximately 50 banks in the UAE with over 300 branches and strict control by the Central Bank has resulted in a growing financial sector exhibiting the key facets of competition and transparency typical of larger economies.
The Dubai International Financial Centre (DIFC) has been established as an on-shore financial free zone focusing on several sectors of financial activity: Banking Services (Investment Banking, Corporate Banking & Private Banking); Capital Markets (Equity, Debt Instruments, Derivatives and Commodity Trading); Asset Management and Fund Registration; Insurance and Reinsurance; Islamic Finance; Business Processing Operations and Ancillary Services.
The Dubai Financial Services Authority (DFSA) regulates financial services in the DIFC to international standards.
Abu Dhabi Global Market(ADGM) is a broad-based international financial centre for local, regional and international institutions. ADGM’s three independent authorities – the Registration Authority, the Financial Services Regulatory Authority (FSRA) and ADGM Courts – ensure that its business-friendly environment operates in line with international best practice that are recognised by major financial centres across the world.