Two major forums held by International Adviser in Dubai during the year both featured lively panel discussions on the outlook for the industry at which panellists said they expected more and clearer regulation would be on the horizon.
Various surveys also published during the year highlighted the fact that advisers were keen to see regulators across the Middle East do more to crack down on unregulated schemes and products.
Industry change has been another driving force. Whether that has been the Nexus Group’s move to acquire a distribution network in Singapore as Zurich Insurance restructured, or the decisions by Generali and Friends Provident International to shift the focus of their global operations more onto centres like Dubai.
Within the adviser market in Dubai, the move by Mondial Group to launch a new insurance consultancy which had salaried rather than commission remunerated staff drew a lot of attention, as did the claim by cross-border advice firm AES International that hidden fees in offshore bonds were crippling investor returns.
The new year is likely to feature more in the way of government reforms and regulatory action, espoecially as the impact of low oil prices begins to felt across the region.
For more please see:
Qatar streamlines financial rules, targets Islamic banking
https://ia.cms-lastwordmedia.com/qatar-streamlines-financial-rules-targets-islamic-banking/
Saudi Arabia to announce major reforms as budget deficit widens
https://ia-live.onyx-sites.io/news/1026736/saudi-arabia-announce-major-reforms-budget-deficit-widens#sthash.cwpaP4OZ.dpuf
