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Exponential Growth Seen in GCC Assets Under Management


Dubai is defined to bolster its position as the region's growing and leading business hub with new legislation expected to appeal international investment as the GCC region is predicted to see an exponential progress in possessions under management to practically $111 billion by 2020, a fresh recent research reveals.

While professionals in the UAE are anticipated to see their AUM grow from $1.6 billion in the year of 2016 to $18.9 billion in 2020, account managers over the GCC are anticipated to see higher increment in their AUM from $45.8 billion in the year of 2016 to $110.9 billion in year 2020, said the survey conducted by DIFC 2017: Mapping Opportunities in the Measa Region.

While region's financial market segments drive the speedy growth in finance property in the GCC, the center East investment market is likely to produce more than two times between 2012 and 2020, with property increasing to $1.5 trillion by 2020- 12 % at an annualized rate, according to the survey. The record explores the current opportunities of investment in this region, while providing a five-year projection for AUM in key Measa countries.

Total AUM by finance professionals, by the end of 2016, in the Measa's key financial areas (Nigeria, India, Egypt, South Africa and the GCC countries) was $436.5 billion. By 2020, the statement jobs total AUM to attain $678.9 billion.

"The DIFC has discovered that management industry has huge prospect of growth over another five years, which explains why our company is making lots of enhancements to your platform. Through the DFSA's recently modified collective fund plan to potential legislative changes coming, we believe that the DIFC and Dubai can play a central role in getting assets to the spot and organizing it for future years of the financial services industry," said CEO of the DIFC, Arif Amiri,.

Based on the survey, Dubai, leading the Global Financial Centre Index in the Measa region, gets the aspiration to give a bridge for capital streaming to South Asia, Africa and the center East because of their convenient time zones and central locations relative to European countries.

"While Bahrain is definitely the jurisdiction of preference for many finance managers working within the GCC, expansion slowed there in the wake of the financial meltdown. Political instability through the Arab Springtime also hit assurance and many account managers who transferred to Dubai in those days have remained despite a go back to balance in Bahrain," it said. The article remarked that the UAE has a number of different regimes for account professionals but most professionals use one of the free areas, specially the DIFC.

"Representing just one single % of global Islamic money, Shariah-compliant pension money is actually a key contributor to the Islamic finance management industry in the years forward," said the statement. Dubai is especially attractive for entrepreneurs as the major choice of investments sector.