The Financial Services sector is major contributor to the GDP of Dubai. Although the country may be considered to be saturated in terms of retail and commercial bank branch coverage, niche opportunities do exist in areas such as mortgage financing, Islamic products and Investment Banking.

The recent licensing and establishment of the Dubai International Financial Centre (DIFC) provides further niche opportunities. The DIFC seeks to accommodate in Dubai companies active in the following fields : Banking Services (Investment Banking, Corporate Banking and Private Banking); Capital Markets (Equity, Debt Instruments, Derivatives and Commodity Trading); Asset Management and Fund Registration (Fund Registration, Fund Administration and Fund Management); Reinsurance; Islamic Finance and Back Office Operations.

Each DIDC company will enjoy zero tax on income and profits, 100 per cent foreign ownership, no restrictions on foreign exchange or capital/profit repatriation, operational support and business continuity facilities. DIFC companies operate under separate legislation but under the umbrella of UAE Law