Dubai’s booming financial sector contributes to 12% of GDP: PM

Dubai’s financial sector is one of the fastest growing sectors in the Emirate, contributing to about 12 percent of GDP, said Mohammed bin Rashid Al Maktoum, the prime minister of the United Arab Emirates and ruler of Dubai.

The sector’s growth has strengthened the entire region’s international standing in the areas of financial services, he was quoted as saying in a report published by Al-Khaleej newspaper. 

He stressed that Dubai’s government is committed to enhancing the Emirate’s position as a global financial hub, and that the strength of the UAE’s regulations will be able to ensure the stability of its investments and leadership in all sectors of the economy.