More and more UAE nationals and residents are embracing a culture of savings, as was evident from the 2021 annual profits report released by National Bonds, which highlighted an investments increase by 36% to AED 11.89 Billion in 2021. National bonds is the UAE Shari’a-compliant savings and investment company owned by the Investment Corporation of Dubai.

By developing the right structure and mechanisms for green finance, GCC governments have the potential to unlock $2 trillion in cumulative GDP contribution, more than 1 million jobs and foreign direct investment in sustainable industries, according to Strategy&, Middle East, part of the PwC network.

Emirates Development Bank (EDB), a key financial enabler of the UAE’s economic diversification and industrial transformation agenda, has announced record growth over the past 12 months. The results, which were presented at the first EDB Board meeting of 2022, underline the success of the bank’s new strategy, which was launched in March 2021 to support UAE’s industrial development, accelerate the adoption of advanced technologies, and empower the growth of SMEs in the UAE. This will be achieved through the growth and development of large corporations and SMEs in five key sectors: manufacturing, advanced technology, infrastructure, healthcare and food security. As part of its strategy, EDB will also facilitate direct and indirect lending totaling AED30 billion by 2025, which is expected to support more than 13,500 companies.

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