The digitalisation of finance is reshaping the industry, with new asset classes like cryptocurrency gaining traction.

Dubai and the UAE have become key hubs for fintech and crypto, driven by new frameworks and initiatives to attract firms and talent. Saudi Arabia and Qatar are also enhancing their regulatory systems.

But what are the benefits and challenges of these shifts?

In our 36 episode, we spoke to Anna Zeitlin, Partner Addleshaw Goddard. She leads the fintech and financial services practice in Dubai, advising both government and private clients across the region.

In this episode, we covered several topics including:

• The rise of fintech in the UAE and region
• Looking at the benefits and drawbacks of CBDCs
• The adoption and future of crypto

Email us: hassan@majlisandmarkets.com

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Egypt is quickly becoming a major tech and fintech hub in MENA and Africa. With over 100 million people, many of them young and tech-savvy, and a strategic location connecting continents, the country is set for impressive growth.

But the path forward isn’t without its challenges. These include regulatory hurdles, market fragmentation, and infrastructure issues that could slow its progress.

In our 35th episode, we spoke to Walid Hassouna, founder and CEO of Valu, a leading Egyptian fintech firm. Walid is also a leader in Egypt’s financial sector.

In this episode, we covered several topics including:

• Egypt's fintech landscape
• The opportunities and challenges
• Egypt's current economic situation
• Islamic finance in Egypt

Valu Facebook page-https://www.facebook.com/valuegypt

Valu LinkedIn-https://www.linkedin.com/company/valuegypt/

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Across the MENA region, environmental challenges are rising, but the six Gulf Arab states—Saudi Arabia, the UAE, Kuwait, Oman, Qatar, and Bahrain—are feeling the impact the most. With economies built on oil and gas, they’re now on the frontlines of climate change.

COP28 in Dubai last year called for urgent action, but what are Gulf countries actually doing? How are they tackling climate risks while trying to diversify their economies?

In our 34th episode, we spoke to Aisha Al-Sarihi. She is a Research Fellow at the Middle East Institute at the National University of Singapore. She is also a Research Associate at Chatham House, and a Non-Resident Fellow the Middle East Council on Global Affairs and the Arab Gulf States Institute in Washington.

Her research focuses on political economy, geopolitics, policy and governance of energy transition, climate and environment, with a focus on the Middle East and Southeast Asia.

In this episode, we covered several topics including

• A deep dive into Gulf states' energy commitments and net-zero policies
• The importance of deploying capital for climate projects
• The challenges in mitigating climate risks in economic diversification

Email us: hassan@majlisandmarkets.com

Aisha's X (Twitter)-https://x.com/DrAishaAlSarihi

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Since 2009, Kazakhstan has been integrating Islamic finance into its economy to attract foreign investment and diversify its financial sector. Leading this effort is the Astana International Financial Centre, or AIFC, which aims to make Kazakhstan a financial bridge between East and West.

With its strategic location and a growing Muslim population, Kazakhstan is keen to tap into the $4 trillion global Islamic finance market.

Today, we’re joined by Madina Tukulova, Head of Islamic Finance at the AIFC Authority. With over a decade of experience, Madina has been a key player in advancing Islamic finance in Kazakhstan.

In this episode, we covered several topics including

• The current landscape of Islamic finance in Kazakhstan
• The opportunities and challenges facing IFIs in Kazakhstan
• How AFIC is seeking to become a financial hub in Central Asia

Email us: hassan@majlisandmarkets.com

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Dubai's real estate has surged in the past decade, driven by its strategic location and luxury demand. Abu Dhabi is advancing, and even smaller emirates like Ras Al Khaimah are attracting attention with new projects.

Saudi Arabia is the major focus, with Vision 2030 transforming the real estate landscape through NEOM’s futuristic cities and ambitious homeownership goals.

In our 32nd episode, we spoke to Faisal Durrani, Partner, Head of Research at Knight Frank MENA, who brings over 15 years of global real estate expertise.

In this episode, we touched on several topics including:

• Dubai, Abu Dhabi and RAK's real estate market
• Saudi Arabia's real estate sector
• ESG factors in the industry
• The outlook for global real estate

Email us: hassan@majlisandmarkets.com

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Egypt's economy is under intense pressure, with a currency crisis, soaring debt, rampant inflation, and a struggling private sector.

But a major UAE investment in February 2024 and a recent IMF bailout offers hope. Plus, Egypt’s entry into BRICS in 2023 hints at a shift eastward.

In our 31st episode, we spoke to Beth Morrissey, managing partner and co-founder of Kleiman International Consultants. As a specialist in emerging markets, Beth offers valuable insights into global economic trends.

In this episode, we covered several topics, including:

• Defining what emerging markets are
• Egypt’s currency crisis, debt, foreign investment and private sector struggles
• The challenges facing Egypt's political economy

Email us: hassan@majlisandmarkets.com

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According to Fitch, the GCC debt capital market has soared to nearly $1 trillion. In 1H24, GCC primary debt issuance reached $75.5bn compared to $54.8bn in the same period last year, representing a 38% increase, according to Markaz, a Kuwait-based financial institution.

In the first five months of 2024, emerging market dollar debt issuance—excluding China—topped $200 billion, with Saudi Arabia leading at 18.5% and the UAE at 9%.

This growth highlights the GCC’s rising role in global bond markets, but it also brings challenges like fluctuating US interest rates and oil price swings.

In our 30th episode, we spoke to Abdul Kadir Hussain, Head of Fixed Income Asset Management at Arqaam Capital. With over 30 years of experience, he explains why the GCC is so attractive to investors and the key risks to watch for.

In this episode we covered several topics including:

• Why the GCC is an important part of the EM bond universe
• Thoughts on AAOIFI standards on the Gulf's sukuk market
• Some of the risks facing EM and GCC bonds

Email us: hassan@majlisandmarkets.com

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According to the IMF, private credit assets grew to $2.1 trillion globally in 2023. With banks less willing to lend to riskier firms in the US and Europe, private credit has stepped in as a key lender.

In the GCC, private credit activity has surged, with financial institutions setting up new funds and financing transactions. Examples include Mubadala and Goldman Sachs setting up a $1bn private credit fund in February 2024.

In our 29th episode, we spoke to Ahmad Alanani, co-founder and CEO of Sancta Capital.

With over 20 years of experience in debt restructuring and structured lending, Ahmad shares his insights into the growth of private credit in the region and its future.

In this episode, we covered several topics including

• The development of private credit in the Gulf
• Exploring different financing structures
• Looking at the risks in the coming years

Email us: hassan@majlisandmarkets.com

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