Grant Thornton UAE works directly with globally mobile families who have capital, operating businesses, and long horizons. This article is not a defense or an assessment of the UAE. It is an assessment of the risks and opportunities that exist within the UAE for families with serious capital. In this article, I will be clear about where risk exists. But I will also be clear about what the data shows, how future-focused families typically respond in periods of uncertainty, and why I believe that for families with a genuine long-term horizon, this is a compelling time to establish a meaningful presence in the UAE.
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Following the introduction of the Economic Substance Regulations ("ESR") in the UAE back in 2019, all the UAE-registered licensees are required to submit an annual notification to their respective Regulatory Authority.
The GCC is emerging stronger than ever with diversified and efficient economies becoming magnets for investment and new ideas, and hence, influencing a global shift towards the region. Such seismic shifts will drive new market entrants, along with opportunities to invest in new markets.
The establishment of Central Shari’ah Boards (CSB) in their contemporary shape and form is considered to be a turning point in the history of the Islamic finance sector, and is expected to drive further valuable standardisation at a global scale. Given the gradual expansion of the scope of the CSBs, what will be the role of the institutional Sharia’ah Supervisory Boards in the future?
With respect to Economic Substance Regulations, Dubai international Financial Center has recently announced a notification filing update to be carried out through the DIFC Client Portal.
Recent significant variations of crude oil price have a significant effect on the Banking Industry.
Following the introduction of the Economic Substance Regulations (“ESR”) in the United Arab Emirates (“UAE”), all Licensees are required to submit an annual notification to their respective Regulatory Authority (trade license issuing authority).
Events are unfolding with astounding speed, unveiling the outbreak’s repercussions on all sectors with some businesses suffering immediate and major distress. The global spread of the outbreak means that most, if not all, industries will face significant turmoil, and that disruption is inevitable.
On March 14th, 2020, the central bank of UAE announced a comprehensive AED 100 billion Targeted Economic Support Scheme to contain the repercussions of the pandemic COVID-19.
As a member of Organisation for Economic Development and Cooperation (“OECD”), and in response to an assessment of the UAE’s tax framework by the European Union Code of Conduct Group, the UAE has committed to ensuring standards related to Base Erosion and Profit Shifting (“BEPS”) are implemented.
Events are unfolding with astounding speed, unveiling the outbreak’s repercussions on all sectors with some businesses suffering immediate and major distress. The global spread of the outbreak means that most, if not all, industries will face significant turmoil, and that disruption is inevitable.
The cost of the coronavirus outbreak has been widely reported and the tragic consequences continue.
Grant Thornton UAE CEO, Hisham Farouk, and our M&A and Transaction Advisory Partner, Salmaan Khawaja, sat with HSBC to discuss the current mergers & acquisition themes of the region post to the COVID-19 outbreak and the disturbance caused in the overall economy as a result.
As a member of Organization for Economic Development and Cooperation (OECD), and in response to an assessment of the UAE’s tax framework by the European Union Code of Conduct Group, the UAE has committed to ensuring standards related to Base Erosion and Profit Shifting (BEPS) are implemented.
Fortunately, our understanding of how to address the challenges of COVID-19 is improving every day. Our medical and scientific communities are learning and adopting new strategies to deal with the current global crisis, as are the world's policymakers.
In a race against time, governments are issuing directives on effective precautions against the Novel Coronavirus (COVID-19) globally to prepare for what is to come as peak-virus over the next 4 to 6 weeks.
Let’s call a meeting to discuss COVID-19 epidemic risk management. No, let's not. Calling a meeting creates a state of panic and promotes congregating in groups at a time when a virus can be transmitted to two people from one infected person- it is not a good idea. What is, however, is having team leaders, risk champions, business continuity professionals, Human Resources, and communications teams collaborate online and agree on a comprehensive strategy to manage the risk and here is how to do it.