Much work needs to be done to bring the UAE's securities exchanges up to a world-class standard, according to analysts and market operators.
"The markets here still have the potential to become a regional hub for capital markets, bringing listings from Iraq and north Africa," said Julien Faye, the head of financial markets at Bain & Company in Dubai. "But for that to happen, regulators need to bring in stronger regulations, transparency, and make it cost-efficient for international investors to trade here."
Axiom Telecom, the mobile phones retailer, is considering a listing on the London Stock Exchange just two months after attempts to float on the Nasdaq Dubai were cancelled because of poor market liquidity, the latest in a series of companies considering listings abroad.
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