GeographicalArea: The Emirate of Dubai extends along the Arabian Gulf coast of the UAE for approximately 72 kilometers, located between Africa and the Middle East and between the Far East and Europe, the UAE is in the Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia
Terrain and Climate: Land area of about 3,885 sq. km, sub topical belt is a desert with high temperatures from 15 degree Celsius in winters to 2 degrees in summers, rainfall is a meager as low as 13 centimeters that generally touches the deserts in winters, flat, barren coastal plain merging into rolling sand dunes of vast desert wasteland; mountains in east
Population: Estimated 3.5 million - The unstoppable number of expatriates (at times up to 75%) has forced Dubai’s government to undertake the population census from December 2005 to March 2006. As such, UAE population was estimated to be around 4.3 millions in 2005 with an included estimate of over 3 million of foreign population. With its extreme diverse population in the Middle East, it became inevitable to have a census of the Middle East king- Dubai.
Ethnicity: Emirati 19%, other Arab and Iranian 23%, South Asian 50%, other expatriates (includes Westerners and East Asians) 8% (1982) note: less than 20% are UAE citizens (1982)
Capital: Abu Dhabi
Government: Power is given to seven hereditary sheikhs (also known as emirs) and the area ruled by an emir is known as an emirate. Sheikhs who the seven sheikhdoms (Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Qaiwain, Ras al-Khaimah and Fujairah -- each emirate is named after its principal town) and choose a president from among themselves, unicameral Federal National Council (FNC) or Majlis al-Ittihad al-Watani (40 seats; 20 members appointed by the rulers of the constituent states, 20 members elected to serve two-year terms)
Major Languages: Arabic is the official language/English is used in offices and other languages including Hindi, Urdu and others
Major Religion: Muslims cover 96% and the rest lies with other religions like Hindu, Christians, Persians (80% Sunni Muslim and 16% Shia Muslim of the Muslim population)
Life Expectancy: 75.89 years
Monetary Unit: Emirati dirham (AED)
Exchange Controls and Taxation: No exchange controls, some taxation on imports, but no taxation on businesses or capital gains
Stamp Tax: There is no stamp duty. However, there are various fixed transaction charges for processing of visa, work permit, notarization, vehicle registration and other services from government departments
Main Exports: Petroleum
Compulsory Education: up to grade 12
GDP: $37,000 (2007)
Annual Growth Rate: 7.5% (2007)
Major Industry: Petroleum, Trade, Manufacturing, Financial Services, Communications, Government services
Communication: Broad-spectrum Evaluation: modern fiber-optic integrated services; digital network with rapidly growing use of mobile-cellular telephones;
Internet: .ae
International dialing code: 1 + 971
Known as “tax-haven” for qualified individuals
Number of Banks: About 52 major banks, both the local banks and the many international banks represented by branches in Dubai provide the usual commercial banking services. Transfers can be made without difficulty
Head of State:President Shaykh Zayid bin Sultan Al Nuhayyan
Radio: AM 13, FM 8,
Television: 15 (2004)
Time Zone: GMT 4 - Eastern Standard: +9
Airport: 1
Bank List – Partial
ABN-Amro Bank - branches in Bur Dubai, Sharjah (Al Durrah Tower, Buhaira Corniche - moved from King Faisal St, as of 12 May 2007), tel +971-4-3080000
Al Ahli Bank of Kuwait
ANZ Grindlays Bank (joined with StanChart Bank?)
Arab African International Bank (Egypt), branches in Abu Dhabi (tel +971-2- 6323400) and Dubai (tel +971-4-3937773), www.aaibank.com.
Arab Bank
Bank Melli Iran
Bank of Baroda, branches in Abu Dhabi, Deira, Sharjah. Opening hours 8am to 1pm and 4pm to 8pm (extended Nov 2007).
Bank Saderat Iran
Banque du Caire
Banque Libanaise pour le Commerce (pour Commerce?)
Barclays Bank - www.barclays.ae, tel 800-22725297, branches in Dubai, Abu Dhabi (18 June 2008 open)
BNP Paribas
Citi Bank / CitiBank - www.citibank.com. UAE network has 50 ATMs, 5 branches including Bur Dubai opposite Al Khaleej Center and Jebel Ali, 4 customer service centers or Electronic Banking Units (EBUs) - Al Heel Tower Abu Dhabi, Al Rigga Palace Dubai, MarinaHeightsTowers next to Marina Walk in Dubai, and CrystalPlaza in King Faisal Street Sharjah. UAE CEO and Middle East Managing Director is Mohammad Al Shroogi (information from 22 June 2007).
Commerzbank AG, Dubai International Financial Center (DIFC), investment bank for corporate and institutional clients.
Credit Agricole Indosuez
Doha Bank - first UAE branch opened in Dubai July 2007
El Nilein Bank (Sudan bank, branch in Abu Dhabi only?).
Habib Bank AG Zurich - www.habibbank.com
Habib Bank Limited
HSBC Bank Middle East - www.hsbc.ae - mixed reports. Some customers are happy, some unhappy. Don't get caught by the office on Jumeirah Beach Road - it's a representative office of their offshore bank (Guernsey?), not a branch of HSBC UAE. That means they can't do your UAE HSBC transactions. HSBC is well established in the Middle East but Dubai branches are only in Bur Dubai (parking is almost impossible), or Jebel Ali, and there's a customer service centre in Mercato Mall on Jumeirah Beach Rd (which means they'll smile, offer to help you, and then tell you to go to one of the other branches to do whatever it is you need to do).
Industrial & Commercial Bank of China Ltd (ICBC) - planning to open a branch in the UAE (Sep 2007 news, no further details).
Janata Bank
Lloyds TSB Bank (Lloyds Bank PLC)
National Bank of Bahrain
National Bank of Oman
Rafidain Bank (Iraq) (Arabic, UAE branch not listed - Dec 2006).
Royal Bank of Scotland (RBS) - open 10 September 2008 on Bank Street, Bur Dubai.
Standard Chartered Bank
Standard Chartered Grindlays Bank - same as ANZ Grindlays (Australia New Zealand)?
United Bank Limited
Local and Foreign Banks in process in Dubai / UAE
Ahli United Bank (AUB), Bahrain - comment in Reuters report Jan 2008 that AUB intend to open branches in the UAE. No time frame given.
Al Hilal Islamic Bank (Crescent Islamic Bank) - Abu Dhabi based bank established July 2007 and first branches opened June 2008
China Construction Bank - plans to open branch in Dubai (mentioned in 20 December 2007 news from Reuters)
Crescent Islamic Bank - see Hilal Islamic Bank
Doha Bank (Qatar) - planning to open UAE branch or branches (mentioned in Reuters news 20 December 2007) , licence awarded late 2007
Emirates NBD - merger of Emirates Bank International and National Bank of Dubai announced April 2007. However, the merger has ended up with ENBD as a holding company while EBI and NBD continue to operate as separate entities from the perspective of the customer.
Faisal Private Bank - a Swiss private bank for rich people, perhaps in 2008 in Dubai (Reuters 04 Feb 2008)
Indian Overseas Bank (IOB) - planning to apply to open a representative office.
Industrial & Commercial Bank of China Ltd (ICBC) - applied to open branch in Dubai (Oct 2007 news)
International Bank of Azerbaijan (IBA) - representative office license granted Dec 2007. Opening date unknown.
Kenanga Investment Bank, Malaysia - planning to operate Sukuk financing and a brokerage service through Mena Financial Group.
National Bank of Azerbaijan (NBA) - Representative Office expecting to be registered mid-2007
National Bank of Kuwait (NBK) says they will open branch if/when UAE Central Bank awards a license (July 2007 news).
Noor Islamic Bank (NIB) - 02 January 2008 start - see below in UAE banks list for more information.
Oceanic Bank International (Nigeria)
Samba Banking Group of Saudi Arabia - bank licence issued late 2007
The Federal Bank Ltd or Federal Bank of India (India) - opening a Representative Office in Abu Dhabi (Aug 2007 news, opening date unknown)
The Union Bank of India (India) - expecting to open a Representative Office in Abu Dhabi by Dec 2007. Approval has been issued.
CIB - Commercial International Bank Egypt
GFH - Gulf Finance House
EGIBL (or EGIB) - Emirates Global Islamic Bank Limited (Pakistan)
Local UAE Banks List
Abu Dhabi Real Estate Bank
ADCB - Abu Dhabi Commercial Bank (Abu Dhabi)
ADIB - Abu Dhabi Islamic Bank (Abu Dhabi)
Al Hilal Islamic Bank - same as Hilal Islamic Bank
Ajman Bank / Ajman Islamic Bank (note that www.ajmanbank.com is spam)
Al Noor Islamic Bank - same as Noor Islamic Bank
Arab Bank for Investment and Foreign Trade (ARBIFT), www.al-masraf.com is spam, www.almasraf.com and www.almasraf.ae give DNS errors, www.almasrafbank.com is not valid.
AEI Bank - Arab Emirates Investment Bank PJSC (Dubai)
BOS - Bank of Sharjah
CBD - Commercial Bank of Dubai
CBI - Commercial Bank International
Central Bank of the UAE - www.centralbank.ae (Abu Dhabi, tel +971-2-6652220), branches in Dubai, Sharjah, RAK, Al Ain, Fujeirah/Fujairah. Not a retail bank - Government and central bank for the UAE.
Crescent Bank - same as Hilal Islamic Bank
Dubai Bank
Dubai First
Dubai Islamic Bank – DIB
Emirates Bank Group
EBI - Emirates Bank International
EIB - Emirates Islamic Bank
EIB - Emirates Industrial Bank www.emiratesindustrialbank.net (Abu Dhabi, branch in Dubai), chairman Dr Mohammad Khalfan Bin Kharbash (Minister of State for Industry and Financial Affairs), arranges finance for UAE industrial organisations. Not a retail bank.
SIB - Sharjah Islamic Bank previously known as National Bank of Sharjah, NBS.
UAB - United Arab Bank (Sharjah)
UAE Central Bank
UNB - Union National Bank
Foreign bank offices in the UAE
American Express Bank
Abbey National PLC
Aberdeen Asset Managers Ltd
AG Assets Management International
Andhra Bank (India)?
Arab Banking Corporation BSC (ABC) - www.arabbanking.com, large Bahrain based bank with a representative office in Abu Dhabi (tel +971-2-6447666).
Axis Bank - in DIFC
Bank of America
Bank Brussels Lambert
Bank of Bahrain and Kuwait
Bank of New York
Bank Muscat
Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU) - office in Abu Dhabi. DIFC license received Aug 2007.
Bank Gesellschaft Berlin AG
BNP Paribas
Clearstream Banking SA
Coutts & Co
Credit Lyonnais
Credit Suisse
Creditanstalt AG
Deutsche Bank AG
Dresdner Bank AG
The Equitable Life Assurance Society
Fidelity Investments International
First Union National Bank
Gulf International Bank
HDFC Bank Representative Office
The Housing Bank for Trade & Finance
HSBC International Ltd
Investment Bank for Trade & Finance
Kuwait Interests for Financial Investments
Merrill Lynch Bank Suisse
Man Investment Products Ltd
Nationwide International Ltd
Natexis Banque - BFCE
Philippine National Bank
Prudential-Bache International Ltd
Qatar Islamic Bank
Royal Bank of Canada
Salmon Smith Barney Inc
Scottish Widows Int'l Ltd
Societe Generale Bank
Standard Bank London Ltd
State Street Bank & Trust Company
Tempelton Worldwide Inc
UBS AG
Union Bancaire Privee
Union des Banques Arabes et Francaises
Unit Trust of India
United Bank of Kuwait
Westdeutsche Landesbank Girozentrale
Dubai
Full Name: Emirate of Dubai
GeographicalArea: The Emirate of Dubai extends along the Arabian Gulf coast of the UAE for approximately 72 kilometers, located between Africa and the Middle East and between the Far East and Europe, the UAE is in the Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia
Terrain and Climate: Land area of about 3,885 sq. km, sub topical belt is a desert with high temperatures from 15 degree Celsius in winters to 2 degrees in summers, rainfall is a meager as low as 13 centimeters that generally touches the deserts in winters, flat, barren coastal plain merging into rolling sand dunes of vast desert wasteland; mountains in east
Population: Estimated 3.5 million - The unstoppable number of expatriates (at times up to 75%) has forced Dubai’s government to undertake the population census from December 2005 to March 2006. As such, UAE population was estimated to be around 4.3 millions in 2005 with an included estimate of over 3 million of foreign population. With its extreme diverse population in the Middle East, it became inevitable to have a census of the Middle East king- Dubai.
Ethnicity: Emirati 19%, other Arab and Iranian 23%, South Asian 50%, other expatriates (includes Westerners and East Asians) 8% (1982) note: less than 20% are UAE citizens (1982)
Capital: Abu Dhabi
Government: Power is given to seven hereditary sheikhs (also known as emirs) and the area ruled by an emir is known as an emirate. Sheikhs who the seven sheikhdoms (Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Qaiwain, Ras al-Khaimah and Fujairah -- each emirate is named after its principal town) and choose a president from among themselves, unicameral Federal National Council (FNC) or Majlis al-Ittihad al-Watani (40 seats; 20 members appointed by the rulers of the constituent states, 20 members elected to serve two-year terms)
Major Languages: Arabic is the official language/English is used in offices and other languages including Hindi, Urdu and others
Major Religion: Muslims cover 96% and the rest lies with other religions like Hindu, Christians, Persians (80% Sunni Muslim and 16% Shia Muslim of the Muslim population)
Life Expectancy: 75.89 years
Monetary Unit: Emirati dirham (AED)
Exchange Controls and Taxation: No exchange controls, some taxation on imports, but no taxation on businesses or capital gains
Stamp Tax: There is no stamp duty. However, there are various fixed transaction charges for processing of visa, work permit, notarization, vehicle registration and other services from government departments
Main Exports: Petroleum
Compulsory Education: up to grade 12
GDP: $37,000 (2007)
Annual Growth Rate: 7.5% (2007)
Major Industry: Petroleum, Trade, Manufacturing, Financial Services, Communications, Government services
Communication: Broad-spectrum Evaluation: modern fiber-optic integrated services; digital network with rapidly growing use of mobile-cellular telephones;
Internet: .ae
International dialing code: 1 + 971
Known as “tax-haven” for qualified individuals
Number of Banks: About 52 major banks, both the local banks and the many international banks represented by branches in Dubai provide the usual commercial banking services. Transfers can be made without difficulty
Head of State:President Shaykh Zayid bin Sultan Al Nuhayyan
Radio: AM 13, FM 8,
Television: 15 (2004)
Time Zone: GMT 4 - Eastern Standard: +9
Airport: 1
Bank List – Partial
ABN-Amro Bank - branches in Bur Dubai, Sharjah (Al Durrah Tower, Buhaira Corniche - moved from King Faisal St, as of 12 May 2007), tel +971-4-3080000
Al Ahli Bank of Kuwait
ANZ Grindlays Bank (joined with StanChart Bank?)
Arab African International Bank (Egypt), branches in Abu Dhabi (tel +971-2- 6323400) and Dubai (tel +971-4-3937773), www.aaibank.com.
Arab Bank
Bank Melli Iran
Bank of Baroda, branches in Abu Dhabi, Deira, Sharjah. Opening hours 8am to 1pm and 4pm to 8pm (extended Nov 2007).
Bank Saderat Iran
Banque du Caire
Banque Libanaise pour le Commerce (pour Commerce?)
Barclays Bank - www.barclays.ae, tel 800-22725297, branches in Dubai, Abu Dhabi (18 June 2008 open)
BNP Paribas
Citi Bank / CitiBank - www.citibank.com. UAE network has 50 ATMs, 5 branches including Bur Dubai opposite Al Khaleej Center and Jebel Ali, 4 customer service centers or Electronic Banking Units (EBUs) - Al Heel Tower Abu Dhabi, Al Rigga Palace Dubai, MarinaHeightsTowers next to Marina Walk in Dubai, and CrystalPlaza in King Faisal Street Sharjah. UAE CEO and Middle East Managing Director is Mohammad Al Shroogi (information from 22 June 2007).
Commerzbank AG, Dubai International Financial Center (DIFC), investment bank for corporate and institutional clients.
Credit Agricole Indosuez
Doha Bank - first UAE branch opened in Dubai July 2007
El Nilein Bank (Sudan bank, branch in Abu Dhabi only?).
Habib Bank AG Zurich - www.habibbank.com
Habib Bank Limited
HSBC Bank Middle East - www.hsbc.ae - mixed reports. Some customers are happy, some unhappy. Don't get caught by the office on Jumeirah Beach Road - it's a representative office of their offshore bank (Guernsey?), not a branch of HSBC UAE. That means they can't do your UAE HSBC transactions. HSBC is well established in the Middle East but Dubai branches are only in Bur Dubai (parking is almost impossible), or Jebel Ali, and there's a customer service centre in Mercato Mall on Jumeirah Beach Rd (which means they'll smile, offer to help you, and then tell you to go to one of the other branches to do whatever it is you need to do).
Industrial & Commercial Bank of China Ltd (ICBC) - planning to open a branch in the UAE (Sep 2007 news, no further details).
Janata Bank
Lloyds TSB Bank (Lloyds Bank PLC)
National Bank of Bahrain
National Bank of Oman
Rafidain Bank (Iraq) (Arabic, UAE branch not listed - Dec 2006).
Royal Bank of Scotland (RBS) - open 10 September 2008 on Bank Street, Bur Dubai.
Standard Chartered Bank
Standard Chartered Grindlays Bank - same as ANZ Grindlays (Australia New Zealand)?
United Bank Limited
Local and Foreign Banks in process in Dubai / UAE
Ahli United Bank (AUB), Bahrain - comment in Reuters report Jan 2008 that AUB intend to open branches in the UAE. No time frame given.
Al Hilal Islamic Bank (Crescent Islamic Bank) - Abu Dhabi based bank established July 2007 and first branches opened June 2008
China Construction Bank - plans to open branch in Dubai (mentioned in 20 December 2007 news from Reuters)
Crescent Islamic Bank - see Hilal Islamic Bank
Doha Bank (Qatar) - planning to open UAE branch or branches (mentioned in Reuters news 20 December 2007) , licence awarded late 2007
Emirates NBD - merger of Emirates Bank International and National Bank of Dubai announced April 2007. However, the merger has ended up with ENBD as a holding company while EBI and NBD continue to operate as separate entities from the perspective of the customer.
Faisal Private Bank - a Swiss private bank for rich people, perhaps in 2008 in Dubai (Reuters 04 Feb 2008)
Indian Overseas Bank (IOB) - planning to apply to open a representative office.
Industrial & Commercial Bank of China Ltd (ICBC) - applied to open branch in Dubai (Oct 2007 news)
International Bank of Azerbaijan (IBA) - representative office license granted Dec 2007. Opening date unknown.
Kenanga Investment Bank, Malaysia - planning to operate Sukuk financing and a brokerage service through Mena Financial Group.
National Bank of Azerbaijan (NBA) - Representative Office expecting to be registered mid-2007
National Bank of Kuwait (NBK) says they will open branch if/when UAE Central Bank awards a license (July 2007 news).
Noor Islamic Bank (NIB) - 02 January 2008 start - see below in UAE banks list for more information.
Oceanic Bank International (Nigeria)
Samba Banking Group of Saudi Arabia - bank licence issued late 2007
The Federal Bank Ltd or Federal Bank of India (India) - opening a Representative Office in Abu Dhabi (Aug 2007 news, opening date unknown)
The Union Bank of India (India) - expecting to open a Representative Office in Abu Dhabi by Dec 2007. Approval has been issued.
CIB - Commercial International Bank Egypt
GFH - Gulf Finance House
EGIBL (or EGIB) - Emirates Global Islamic Bank Limited (Pakistan)
Local UAE Banks List
Abu Dhabi Real Estate Bank
ADCB - Abu Dhabi Commercial Bank (Abu Dhabi)
ADIB - Abu Dhabi Islamic Bank (Abu Dhabi)
Al Hilal Islamic Bank - same as Hilal Islamic Bank
Ajman Bank / Ajman Islamic Bank (note that www.ajmanbank.com is spam)
Al Noor Islamic Bank - same as Noor Islamic Bank
Arab Bank for Investment and Foreign Trade (ARBIFT), www.al-masraf.com is spam, www.almasraf.com and www.almasraf.ae give DNS errors, www.almasrafbank.com is not valid.
AEI Bank - Arab Emirates Investment Bank PJSC (Dubai)
BOS - Bank of Sharjah
CBD - Commercial Bank of Dubai
CBI - Commercial Bank International
Central Bank of the UAE - www.centralbank.ae (Abu Dhabi, tel +971-2-6652220), branches in Dubai, Sharjah, RAK, Al Ain, Fujeirah/Fujairah. Not a retail bank - Government and central bank for the UAE.
Crescent Bank - same as Hilal Islamic Bank
Dubai Bank
Dubai First
Dubai Islamic Bank – DIB
Emirates Bank Group
EBI - Emirates Bank International
EIB - Emirates Islamic Bank
EIB - Emirates Industrial Bank www.emiratesindustrialbank.net (Abu Dhabi, branch in Dubai), chairman Dr Mohammad Khalfan Bin Kharbash (Minister of State for Industry and Financial Affairs), arranges finance for UAE industrial organisations. Not a retail bank.
