Major Influences on the Middle East’s Capital Markets in 2024
2 min
As inflation challenges global economies and the threat of recession appears over many key markets, the Middle East stands out as a sign of stability and growth. The region is distinguishing itself as a center for stability, innovation, and capital market opportunities.
The entrepreneurial landscape in the Middle East is thriving, with its economies catching the eye of both local and international private investors, thanks to a blend of dynamic factors. The youthful, tech-forward population, encouraging government policies towards private investment and startups, and an increasing interest in risk-managed returns are driving a notable transformation. This shift is drawing fresh investment, spotlighting the region’s capacity for growth and innovation.
The environment in the Middle East is particularly beneficial to investments in alternative assets. Amid global economic pressures, the Middle East exudes a sense of stability, innovation, and potential, especially in the Arabian Gulf, led by the UAE and Saudi Arabia, which is drawing significant international investment.
The Gulf possesses some of the largest capital reserves worldwide, attracting alternative asset managers. A notable shift towards private markets is observed, especially among the younger generation in large family offices, who exhibit a strong preference for diversified and alternative investments. This shift expands the investor base significantly.
Regulatory reforms across Gulf nations are enhancing the attractiveness of these markets by improving accessibility and transparency, thereby boosting international investor interest and confidence. These countries are aligning their regulations with global standards to facilitate better integration and familiarity, complemented by tax policies favorable to foreign investment.
The Arabian Gulf is emerging as a vibrant hub for tech startups, propelled by governments’ commitments to economic diversification and digital infrastructure investments. This proactive stance, alongside a supportive regulatory environment for venture capital and a rich talent pool, is attracting venture capitalists and angel investors, making it a hotbed for tech innovation and startup growth. The region’s youthful population is eager for technological advancements and innovative solutions, offering a rich landscape for entrepreneurial and investment endeavors.
Institutional investors are increasingly drawn to the Gulf, attracted by its robust economic indicators, evolving capital markets, supportive policies, and strategic location. The Gulf’s geographical positioning as a nexus between Europe, Asia, and Africa opens access to diverse and expanding markets, making it a strategic hub for global trade. This unique global connectivity and potential for future growth mark the Gulf as a compelling focus for smart institutional investors.
As these forces come together, the Middle East, particularly the Arabian Gulf, is becoming an increasingly appealing destination for alternative investments, marked by a unique blend of stability, growth potential, and strategic global positioning.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
The agreement offers innovative and customer-centric solutions to CBD cardholders across all segments
3 min
Commercial Bank of Dubai (CBD), one of the leading banks in the United Arab Emirates, has announced an exclusive multi-year strategic partnership with Visa, a global leader in digital payments, for credit and debit cards. This partnership aims to enhance digital payment adoption in the UAE, offering innovative and customer-centric solutions to CBD cardholders across all segments.
The agreement was signed by Khaled Al Hammadi, General Manager of the Personal Banking Group at CBD, and Salima Gutieva, Visa’s Vice President and Country Manager for the UAE.
The signing ceremony was attended by Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, and Andrew Torre, Visa’s Regional President for Central and Eastern Europe, the Middle East, and Africa.
As part of this partnership, CBD and Visa are also partnering to establish a ‘Centre of Excellence’ powered by Visa Consulting and Analytics (VCA), dedicated to accelerating and simplifying customer’s payment experiences. By leveraging core data assets and deriving insights, VCA will formulate actionable recommendations that aim to address business challenges and offer personalized solutions to customers. This collaborative approach will support CBD’s goals of market expansion, product design, customer acquisition, and engagement improvement, focusing on areas such as encouraging card usage through engaging and rewarding gamification, positioning CBD Visa cards as the top choice in digital wallets, enhancing cross-border transactions and payment speed, and expanding our footprint through strategic digital merchant collaborations.
Moreover, CBD and Visa are redefining the marketing landscape for the CBD card business through initiatives such as leveraging advanced technology to enhance digital customer onboarding experiences, sponsoring high-profile events like the Olympics, launching the Visa Instalment Solution in the UAE to introduce flexible payment options for our customers directly through Point-of-Sale (POS) machines, and offering comprehensive local and international benefits, focusing on the complete lifecycle of new and existing CBD Visa cardholders.
Dr. Bernd van Linder, Chief Executive Officer, Commercial Bank of Dubai, said, “We are excited to build on our partnership with Visa as we continue our mission in providing innovative and customer-centric payment solutions. The financial sector landscape is changing dramatically with technological disruption, emergence of new players, as well as constantly evolving customer expectations. Our collaboration with Visa will help us in developing new business models and providing more personalized customer offerings. At CBD, we are committed to playing a leading role in the digitization of the financial payments sector and introducing innovative financial solutions that meet our customers’ evolving needs and deliver seamless banking experiences.”
Khaled Al Hammadi, General Manager, Personal Banking Group at CBD, further added, “We are proud of this extended and strategic partnership with Visa. With Visa’s global expertise and CBD’s dedication to meeting the needs of our customers, we aim to provide a more seamless payment solution, delivering a variety of competitive and innovative features, products, and offers that are data-driven and are based on customer feedback. This includes recognizing and rewarding our customers, enhancing their banking experience, and delivering tangible benefits.”
Salima Gutieva, Visa’s VP and Country Manager for UAE, said, “We are delighted to expand our partnership with CBD with this exclusive multi-year partnership for their credit and debit portfolio. We will continue to work together to develop attractive products that deliver seamless, secure and rewarding experiences to the bank’s customers. CBD will be able to leverage Visa‘s industry-leading data and analytic capabilities to further drive innovation with personalized experiences for Visa cardholders. We also look forward to bringing value to local retailers and contribute to the UAE government’s efforts to grow the digital economy.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
