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The Next Chapter of Islamic Finance

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As Islamic finance enters a new phase of growth, the focus is shifting beyond expansion towards stronger governance, greater transparency, sustainable finance, and digital innovation.

In this exclusive interview with Charlotte Robins, Managing Director, Policy & Legal, DFSA, she discusses the regulatory priorities shaping the future of Shari’a-compliant finance within the DIFC and beyond.

How do you see the Islamic finance sector evolving within the UAE and the wider region over the next few years?

The UAE is a leading global market for Islamic finance. According to the Islamic Finance Development Indicator (IFDI), the UAE ranked fourth globally by assets and third based on financial performance and supporting ecosystem metrics in 2024. Dubai International Financial Centre (DIFC) is currently one of the world’s largest venues for the issuance of Sukuk, with more than USD 100 billion of outstanding Sukuk listings, including in relation to Environmental, Social, and Governance (ESG).

Against this backdrop, the Dubai Financial Services Authority’s (DFSA) approach has been to support the continued development of the Islamic finance sector within DIFC by ensuring that its regulatory framework remains clear, proportionate, and aligned with market developments. This approach aligns with broader national and emirate-level objectives, including the UAE Strategy for Islamic Finance and Halal Industry and Dubai Economic Agenda D33, which aim to strengthen the UAE’s position as a global hub for international Islamic finance.

Within the Centre, we are seeing continued activity across Sukuk issuance, Takaful, asset management, and fintech solutions involving Shari’a-compliant structures. ESG considerations are also becoming increasingly relevant within Islamic finance, particularly in the Sukuk market, where investors are placing greater focus on disclosures, governance standards, and the credibility of sustainability-related claims.

We expect the Islamic finance sector to continue evolving alongside broader changes in global financial markets, particularly in relation to sustainability, digitalisation, and capital markets activity.

From a regulatory perspective, our focus is on ensuring that the framework continues to evolve alongside market developments.

Charlotte Robins, Managing Director, Policy & Legal, DFSA

This includes supporting innovation whilst maintaining appropriate standards around governance, disclosure, investor understanding, and market integrity.

What developments in the market made this the right time to revisit and enhance the regulatory framework?

As the Islamic finance sector develops, products, business models, and delivery channels are becoming increasingly diverse. The DFSA’s approach has been to support the continued development of the Islamic finance sector within DIFC by ensuring that its regulatory framework remains clear, proportionate, and aligned with market developments. This includes addressing areas where greater regulatory clarity or consistency is needed for firms operating in the sector, which we have sought to provide in Consultation Paper 172 (CP 172), in which we propose enhancements to the DFSA’s Islamic Finance Rules Module.

The proposals are intended to provide greater clarity on when an Islamic endorsement is required and strengthen Takaful disclosure requirements. They reflect our broader approach of reviewing the regulatory framework periodically to ensure it remains proportionate, responsive to market developments, and aligned with international standards and best practices.

How important is regulatory clarity in encouraging further growth and innovation in Islamic finance?

Regulatory clarity is fundamental to supporting sustainable market development and innovation. Firms need to understand clearly how regulatory requirements apply to their activities, particularly as Islamic finance products continue to evolve and intersect with areas such as fintech, tokenisation, and sustainable finance.

Clear frameworks also support investor confidence. Clients should be able to understand the nature of the services they are receiving, how products are structured, the governance arrangements supporting Shari’a compliance, and the associated risks. This is one of the key objectives behind CP 172. The proposals seek to provide greater certainty around when firms require an Islamic endorsement and strengthen disclosure expectations for Takaful products. Together, these measures are intended to support clearer regulatory expectations, stronger investor understanding, and greater market confidence.

How do stronger disclosure standards contribute to confidence and trust within the Islamic finance ecosystem?

Disclosure standards play an important role in supporting transparency, investor understanding, and market confidence. This is particularly important in Islamic finance, where clients may wish to understand not only the financial characteristics of a product, but also how Shari’a-related features and governance arrangements operate in practice. In the case of Takaful products, for example, clients should be able to clearly understand how fees are calculated, how surplus-sharing arrangements operate, and whether additional contributions may be required.

The proposals in CP 172 therefore strengthen disclosure requirements for Takaful products to support better investor understanding and consumer protection outcomes. More broadly, consistent and credible disclosures are becoming increasingly important in areas such as ESG Sukuk and sustainable Islamic finance instruments, where investors are placing greater focus on transparency and sustainability-related claims.

Looking ahead, what areas of growth or transformation do you expect to define the next phase of Islamic finance?

We expect several themes to shape the next phase of Islamic finance development including:

The continued growth of sustainable Islamic finance, particularly ESG Sukuk and other products that combine Shari’a-compliant structures with sustainability-related objectives. As this market develops, disclosure quality, governance standards, and investor transparency will remain increasingly important; and

Digitisation, where we are observing increasing interest in Shari’a-compliant fintech solutions, including from issuers exploring the digitalisation and tokenisation of the Sukuk issuance lifecycle. Tokenisation can improve efficiency through faster settlement, enhanced transparency through distributed ledger technology, and broader investor accessibility with fractional ownership which enables smaller investors to participate – whilst maintaining Shari’a compliance requirements.

At the DFSA level, our focus will remain on maintaining a clear, proportionate, and internationally aligned regulatory framework that supports responsible innovation, investor confidence, and the continued development of Islamic finance within DIFC.

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UAE Investors Want More Than Just Trading Apps

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Traders’ Hub’s Michael Barbour on investor trust, technology, and the future of finance in the Gulf.

BY SRIJITH KN FOR FINANCIAL INTEGRATOR

Over the past few years, investor participation across the region has evolved beyond speculative trading activity into something far more structured, technology-driven, and institutionally aligned. Retail traders are becoming increasingly sophisticated, expectations around transparency and execution quality are rising, and financial platforms are under pressure to offer far more than simple market access.

The speculative frenzy that once defined large parts of retail trading is gradually giving way to a more measured investor mindset, shaped largely by regulation, financial awareness, and long-term wealth preservation rather than short-term market excitement.

In this changing landscape, brokerage firms are no longer positioning themselves purely as trading providers. Instead, many are beginning to evolve into broader financial ecosystems, combining infrastructure, education, technology, regulatory credibility, and long-term investment access into a single platform experience.

For UAE-based firms such as Traders’ Hub Capital Markets, this shift represents more than market expansion. It signals a transformation in how the region’s next generation of investors may engage with financial markets altogether.

Founded in 2022 and headquartered in Abu Dhabi, Traders’ Hub has rapidly positioned itself as a locally regulated, technology-enabled brokerage focused on transparency, multi-asset access, and client-centric trading infrastructure.

Today, the company offers access to more than 2,000 instruments across forex, commodities, equities, indices, and cryptocurrencies, while simultaneously preparing for a broader move into wealth management and long-term investment services.

But the story surrounding Traders’ Hub is not simply about growth.

It is also about the wider evolution of the UAE’s financial ecosystem itself.

THE SHIFT IN UAE INVESTOR CULTURE

Across the GCC, financial participation is changing shape.

The rapid rise of digital platforms, increasing financial literacy, regulatory modernization, and mobile-first investing have fundamentally altered how younger investors interact with markets.

In parallel, the UAE has continued strengthening its position as a regional financial hub, attracting capital, fintech innovation, institutional activity, and globally mobile investors seeking regulated access to international markets. This transformation has also created new expectations.

Today’s investors are increasingly prioritising transparency, regulatory protection, execution quality, multi-asset accessibility, and seamless digital experiences.

In many ways, expectations around trading platforms are beginning to resemble expectations traditionally associated with banking and wealth management institutions.

According to Michael Barbour, Head of Product Implementation at Traders’ Hub Capital Markets, these changes reflect a deeper transformation in investor behaviour itself.

Investors increasingly seek integrated, trustworthy financial ecosystems prioritising long-term value, convenience, and institutional-grade service.”

Over the past five years, the psychological profile of the UAE investor has gradually shifted from short-term speculation toward a far more informed, disciplined, and globally aware mindset. Earlier retail participation was often driven primarily by leverage, speed, and short-term market movements. Today, however, younger investors across the UAE are becoming more research-driven, risk-conscious, and focused on long-term wealth creation rather than impulsive trading behaviour.

Modern traders are also seeking far more than market access alone. Transparency, educational support, analytical tools, platform stability, and institutional credibility are becoming increasingly important components of the investor experience itself.

FROM SCOTLAND TO GULF CAPITAL MARKETS

Long before helping shape the growth trajectory of Traders’ Hub Capital Markets, Michael Barbour’s early ambitions were far removed from financial markets.

Growing up in Stonehaven, a small Scottish town south of Aberdeen, he originally aspired to become a professional footballer, eventually playing semi-professionally before moving into finance.

His early exposure to financial systems came during the 2008 financial crisis while working within the legal and asset management sector in Scotland, assisting major UK banking institutions in managing distressed real estate portfolios during one of the most volatile periods in modern financial history.

That experience, combined with his later move to the Middle East in 2011 and subsequent years at the Dubai Gold and Commodities Exchange (DGCX), helped shape a perspective grounded not only in trading infrastructure, but in how markets behave under pressure, uncertainty, and rapid transformation.

Today, that institutional perspective continues influencing Traders’ Hub’s broader focus on operational credibility, technology infrastructure, and long-term investor engagement across the UAE market.

BUILDING A LOCALLY ROOTED TRADING PLATFORM

One of Traders’ Hub’s strongest positioning advantages lies in its status as a UAE-regulated Category 1 Capital Markets Authority (CMA) licensed broker, one of the highest licensing classifications within the country’s financial ecosystem.

In a market where offshore platforms have historically dominated retail participation, regulatory credibility has become increasingly significant, particularly as investors grow more conscious of operational risk, fund protection, execution transparency, and long-term platform reliability.

Rather than positioning itself through aggressive speculative messaging, Traders’ Hub appears to be building its identity around institutional-grade infrastructure, operational discipline, and client alignment.

Its trading environment is built around a Straight Through Processing (STP) execution model, meaning trades are routed directly to liquidity providers rather than internally warehoused by the broker itself.

In increasingly crowded financial markets, brokerage differentiation is no longer being shaped purely by leverage offerings or execution speed. Investors across the UAE are becoming far more conscious of pricing transparency, liquidity structures, operational credibility, and how trades are ultimately executed, particularly as financial literacy continues maturing across the region.

According to Michael Barbour, many investors still misunderstand how brokerage models differ operationally, particularly around spreads, slippage, pricing structures, and conflicts of interest between market-making and STP environments.

For Barbour, transparency itself is becoming a defining factor in long-term investor confidence.

Modern investors are also becoming more selective around how brokers disclose execution policies, fee structures, liquidity relationships, and client fund protections. In many ways, execution architecture itself is increasingly becoming part of the trust equation.

For regulated regional firms such as Traders’ Hub, this shift may ultimately represent a broader advantage. As investor sophistication continues evolving across the UAE, operational credibility and institutional transparency are beginning to matter as much as platform functionality itself.

FROM BROKERAGE TO FINANCIAL ECOSYSTEM

The transition from Traders’ Hub Currency Brokerage to Traders’ Hub Capital Markets reflects more than a naming evolution. It signals a broader ambition to position the company as a longer-term financial institution within the UAE’s evolving investment ecosystem.

Globally, the distinction between trading platforms, investment platforms, and wealth management ecosystems is beginning to blur. Increasingly, investors no longer want fragmented financial experiences spread across multiple platforms. Instead, they are seeking connected environments capable of combining active trading, long-term investing, financial planning, analytics, and educational support within a single ecosystem.

For Traders’ Hub, this transition also reflects an effort to solve a longstanding regional friction point: the difficulty many UAE investors face when moving between active trading and structured long-term wealth accumulation.

“The modern investor no longer wants isolated trading access. They want a complete financial environment,” says Barbour.

The company’s planned expansion into wealth management and broader investment services reflects a wider regional shift toward more integrated financial participation models.

TECHNOLOGY, AI, AND THE NEXT INVESTOR EXPERIENCE

As trading platforms become increasingly automated and algorithmically assisted, the financial industry is also confronting a deeper question: how much of investing should remain human?

Technology is rapidly becoming the defining layer of modern financial platforms, from AI-assisted analytics and mobile-first investing experiences to increasingly sophisticated execution infrastructure.

But while automation can enhance speed and efficiency, long-term investing still remains deeply shaped by human behaviour itself. Markets continue being influenced by fear, overconfidence, emotional reaction, and risk perception, factors technology alone cannot fully eliminate.

One potential differentiator for firms such as Traders’ Hub may therefore lie in how effectively they balance algorithmic intelligence with human judgement.

EDUCATION, TRUST, AND LONG-TERM ENGAGEMENT

As trading participation expands across the GCC, financial platforms are increasingly carrying responsibilities extending far beyond market access alone.

While digital platforms have lowered barriers into global financial markets, they have also intensified conversations around behavioural investing, financial literacy, emotional discipline, and long-term risk awareness.

Increasingly, sustainable platform growth may depend not only on user acquisition, but on trust, transparency, and investor education itself.

In the GCC particularly, where retail participation continues expanding rapidly, financial firms are beginning to recognise their role in shaping long-term investor behaviour and financial understanding.

THE NEXT PHASE OF REGIONAL FINANCE

The UAE’s financial landscape is evolving rapidly.

As regulation strengthens, investor sophistication increases, and technology continues reshaping how capital moves through markets, financial platforms and capital markets institutions are being forced to rethink what they represent within the broader financial ecosystem.

The company’s broader direction, spanning infrastructure investment, wealth management expansion, AI integration, mobile accessibility, and educational initiatives, reflects a wider regional transition toward more mature, technology-enabled financial participation.

 Barbour believes the future of finance will increasingly belong to intelligent platforms capable of combining technology, trust, education, accessibility, and long-term wealth creation into a unified experience.

Whether this next generation of financial platforms ultimately succeeds will depend not only on execution speed or product breadth, but on something far more enduring: trust.

And in an increasingly crowded financial landscape, trust may ultimately become the most valuable asset of all.

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Vintage Vaults: Dubai’s Premium Safe Deposit Box Facility at Mall of the Emirates

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As UAE residents prepare for summer holidays, international travel and seasonal relocation, Vintage Vaults, Dubai’s premium safe deposit box facility at Mall of the Emirates, is highlighting the importance of secure private vault storage for valuables, documents and high-value personal assets.

From jewellery and luxury watches to family heirlooms, legal documents, precious metals and collectibles, extended periods away from home can heighten concerns around security, accessibility and long-term protection. For residents, expatriates, investors and frequent travellers, secure storage during travel in the UAE has become an increasingly important part of responsible asset protection.

Vintage Vaults provides private safe deposit box rental in Dubai for individuals, families, collectors and business owners seeking a modern, discreet and service-led alternative to conventional safety deposit boxes. Combining advanced security infrastructure with premium client experience, the facility has been designed for clients who value privacy, convenience and peace of mind.

Located within Mall of the Emirates, Vintage Vaults offers client access during mall operating hours, 365 days a year. The facility operates within a 24/7 monitored security environment supported by UL-certified vault infrastructure, biometric authentication, controlled access systems, AI-powered surveillance, CCTV monitoring, motion detection technology and advanced alarm systems. It is also directly connected to Dubai Police and SIRA-linked monitoring systems, further strengthening its security framework.

Clients can choose from seven safe deposit box sizes ranging from XXS to XXL, accommodating a wide variety of assets including jewellery, watches, gold, cash, legal documentation, family archives, artwork and collectibles. Every box comes with complimentary insurance coverage, with protection of up to AED 2 million depending on the selected membership tier.

“Dubai has become home to a growing number of individuals and families who have accumulated significant personal and financial assets over the years,” said Sherif El Haddad, Founder and CEO of Vintage Vaults. “At the same time, we are seeing greater mobility, with people travelling more frequently, spending extended periods abroad, relocating between countries or managing assets across multiple markets. Accordingly, secure storage is becoming an essential part of responsible asset management, particularly during periods when people are away from home.”

Sherif El Haddad, Founder and CEO, Vintage Vaults

Vintage Vaults offers three membership categories — Silver, Gold and Black — providing varying levels of insurance coverage, security features, box access nominees and premium services. Clients also benefit from private consultation and access rooms designed to maintain discretion, alongside a multilingual team trained in security, privacy, client service and asset protection.

For clients requiring additional support, the facility offers premium services including chauffeur arrangements, armoured transportation and bodyguard assistance, creating a comprehensive asset protection ecosystem tailored to high-value holdings.

According to Imran Shoukat Khan, Co-founder and Managing Partner of Vintage Vaults, demand for private vault services is being driven by a broader shift in how residents and expatriates think about protecting their assets.

“Today’s clients expect more than storage. They want confidence that their valuables are protected by robust infrastructure, supported by technology and managed with complete client discretion,” said Imran. “Whether someone is travelling for several weeks, relocating internationally or safeguarding assets for future generations, secure private vault facilities provide essential storage with , protection against theft, damage or loss along with peace of mind.”

The summer season presents a timely opportunity for UAE residents and expats to review how their valuable possessions are stored and protected. For many, a safe deposit box in Dubai offers a practical solution for securing jewellery collections, investment-grade precious metals, luxury watches, important family documents and sentimental heirlooms before extended travel or temporary relocation.

As one of the few independent private safe deposit box operators in the UAE not affiliated with a bank, Vintage Vaults offers a level of discretion, flexibility and service that traditional banking institutions may not provide. By combining advanced security standards, complimentary insurance coverage, flexible storage options and premium client services, Vintage Vaults continues to provide a trusted destination for clients seeking long-term asset protection in one of the world’s most dynamic wealth centres.

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Standard Chartered H2 2026 Global Market Outlook: Navigating Shifting Sands

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Standard Chartered (“the Bank”) Wealth Solutions Chief Investment Office (CIO) has released its Global Market Outlook for the second half of 2026, outlining its investment strategy and key themes as investors navigate a more complex and evolving market environment. The report was launched alongside Global Market Outlook events in Dubai and Abu Dhabi this week, the first of their kind for the Bank regionally for the second half of this year.

The Bank’s CIO expects risky assets to remain supported by a soft-landing macro backdrop, though investors will need to navigate energy prices, equity supply, investor positioning and central bank policy in H2 2026.

For investors in the UAE and wider Middle East, evolving energy dynamics and easing geopolitical risk premiums following the US-Iran interim deal are expected to support sentiment, while stable oil prices and strong regional liquidity continue to underpin investment activity and diversification opportunities.

Against this backdrop, the CIO remains Overweight global equities, with a preference for the US and Asia ex-Japan, alongside selective opportunities in fixed income and alternatives.

Reflecting this stance, the CIO team sees further upside in key asset classes, with a target of 7,950 for the US S&P 500 index and USD 5,100 for gold by mid-2027, underscoring the role of equities as a core growth driver and gold as a strategic portfolio diversifier.

Global equities rose more than 12% year-to-date, supported by strong earnings and AI-driven optimism, despite geopolitical tensions, higher oil prices and elevated bond yields.

While this momentum is expected to extend into H2, investors will need to be more nimble as markets adjust to four key pivot points: energy prices, equity supply, investor positioning and central bank policy.  

In the Middle East, including the UAE, oil market developments remain particularly relevant. While the interim US‑Iran agreement may ease supply constraints and soften prices, the pace of recovery in physical flows and inventory rebuilding is why energy prices are unlikely to immediately return to start-of-year levels, a key factor shaping inflation expectations and investment opportunities.

Ayesha Abbas, Managing Director and Head of Affluent and Wealth Solutions, Europe, Middle East and Africa, and UAE at Standard Chartered, said: “UAE investors are entering the second half of 2026 from a position of strength. The region continues to benefit from supportive liquidity conditions and the stabilisation of oil markets. In this environment, we are seeing strong demand for diversified portfolios that balance growth opportunities in global equities with income strategies such as Emerging Market USD bonds, alongside gold as a strategic hedge. For internationally minded clients in the UAE, staying invested and well-diversified will be key to capturing opportunities as markets evolve.”

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