Financial conditions are improving in the UAE, although domestic banks remain highly exposed to Dubai government-related entities (GREs) that are engaged in restructuring, following a slump in asset values after Dubai's debt crisis. In January 2014 Dubai Group, a conglomerate owned by the emirate's ruler, signed a US$10bn debt-restructuring agreement-the last major refinancing deal required.
Nonetheless, debt levels remain high. The IMF estimates that in mid-2014 Dubai's total government and GRE debt was about US$142bn (equivalent to 141% of Dubai GDP), with US$92bn felling due in 2014-19. Government and government-guaranteed debt amounts to about US$34bn of the total.

Financial services report 2

Banks 3

Insurers 5

Asset managers 7

Financial markets and instruments 8

Financial regulation 10

Monetary and currency policy 12

United Arab Emirates at a glance 14

Fundamental indicators 15

Key contacts 16

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