List of Banks in UAE, Private Banking Services in United Arab Emirates

Major commercial banks

Abu Dhabi Commercial Bank

National Bank of Abu Dhabi

National Bank of Dubai

Abu Dhabi Investment Authority

Emirates Bank International

MashreqBank

American Express Bank Limited

Bank of America

Bank of China

Bank of India

Citibank

Indian Bank

JPMorgan Chase

ABN AMRO

Scotiabank

Credit Suisse

Deutsche Bank

Fortis Bank

National Bank of Kuwait

Royal Bank of Scotland

Arab Bank

Bank of New York

Hang Seng Bank

ICICI Bank

Royal Bank of Canada

State Bank of India

Toronto Dominion Bank

State Bank of India

Central Bank of India

Axis Bank

Bank Melli Iran

Bank Saderat Iran

Gulf Commercial Bank

Bank of Jordan

Allied Bank

Standard Chartered

Bank of Baroda

HSBC

First Gulf Bank

Habib Bank AG Zurich

United Bank

RAKBANK

Commercial Bank of Dubai

Invest Bank

Gulf Merchant Bank

Islamic banks

Dubai Islamic Bank

Emirates Islamic Bank

Sharjah Islamic Bank

Abu Dhabi Islamic Bank

Islamic Commercial Bank

Noor Islamic Bank

Defunct or merged banks

Bank of Credit and Commerce International

 

Economy—overview: The UAE has an open economy with one of the world's highest per capita incomes and with a sizable annual trade surplus. Its wealth is based on oil and gas output (about 33% of GDP) and the fortunes of the economy fluctuate with the prices of those commodities. Since 1973 the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. At present levels of production oil and gas reserves should last for over 100 years. The UAE Government is encouraging increased privatization within the economy and industrial development is expected to pick up in 1997-98.

 

GDP: purchasing power parity—$54.2 billion (1997 est.)

 

GDP—real growth rate: 5% (1997 est.)

 

GDP—per capita: purchasing power parity—$24 000 (1997 est.)

 

GDP—composition by sector:

 

agriculture: 3%

 

industry: 55%

 

services: 42% (1996 est.)

 

Inflation rate—consumer price index: 3.6% (1997 est.)

 

Labor force:

 

total: 1.05 million (1996 est.)

 

by occupation: services 65% industry and commerce 30% agriculture 5% (1996 est.)

 

note: 75% of the population in the 15-64 age group is non-national (July 1998 est.)

 

Unemployment rate: NA%

 

Budget:

 

revenues: $5.1 billion

 

expenditures: $5.4 billion including capital expenditures of $294 million (1997 est.)

 

Industries: petroleum fishing petrochemicals construction materials some boat building handicrafts pearling

 

Industrial production growth rate: 6.1% (1995 est.)

 

Electricity—capacity: 5.29 million kW (1995)

 

Electricity—production: 18 billion kWh (1995)

 

Electricity—consumption per capita: 6 155 kWh (1995)

 

Agriculture—products: dates vegetables watermelons; poultry eggs dairy products; fish

 

Exports:

 

total value: $33.2 billion (f.o.b. 1996 est.)

 

commodities: crude oil 66% natural gas reexports dried fish dates

 

partners: Japan 38% South Korea 7% Singapore 7% India 6% Oman 4% Iran 3% (1996)

 

Imports:

 

total value: $23.5 billion (f.o.b. 1996 est.)

 

commodities: manufactured goods machinery and transport equipment chemicals food

 

partners: US 10% Japan 9% UK 8% Italy 6% South Korea 6% India 6% (1996)

 

Debt—external: $14 billion (1996 est.)

 

Economic aid: $NA

 

Currency: 1 Emirian dirham (Dh) = 100 fils

 

Exchange rates: Emirian dirhams (Dh) per US$1—3.6710 (fixed rate)

 

Fiscal year: calendar year