Peter Gotke, the vice president of depositary receipts at BNY Mellon, talks to Tom Arnold about what is hindering the UAE's markets.
What are the fundamental problems with UAE stock markets?
The obvious problem is the lack of liquidity and the real nub is why investors are staying out. Back in 2005 to 2008, we had a big run as hedge funds and foreign investors came looking for fast returns and as soon as the financial crisis happened they exited and the UAE got burned from a stock market perspective. It was a perfect storm and since then we've not seen a recovery.
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