Domestic securities markets, the IMF says, are small, underdeveloped and plagued by insider trading. The responsibilities of the various bodies with regulatory responsibility over the sector are blurred, and progress on implementation of the 2000 securities law has been slow. The insurance sector is likewise small due to the size of the population, an underdeveloped life insurance market, and state pension provision. The major UAE insurers are stable and well-capitalised, but supervision is weak.

On money-laundering, the authorities are credited with taking the matter seriously, but the UAE’s position as a hub for the gold trade and money remittances, and high levels of trade, make it particularly vulnerable. The central bank is in the process of formalising anti-money-laundering regulations.