Dubai International Financial Centre chief economist Dr Nasser Saidi explains how business is growing in the financial centre during one of the worst downturns in the history of global finance. For example, Chinese banks are using the centre as a base for their business activities in Africa.
But Dr Saidi is a man with a mission to transform capital markets in the region. He says it is madness to allow around $3 trillion in regional assets to be largely managed by institutions based outside this region and reckons it is very much in the interests of the Middle East to manage its assets closer to home. Dr Saidi says sometimes he feels ‘a lone voice in the desert’ and really more people ought to listen to his very wise words…
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