IslamicFinance.de

According to Boston Consulting Group (BCG), personal wealth held by UAE residents surged to $400 billion between 2014 and 2019, with 48.5% of it held by millionaires in 2019. The consultancy reckons the ranks of UAE’s millionaires are expected to grow by 4.2% annually over the coming four years. The UAE represented 7.1% of the share of personal wealth pool in 2019 in the Middle East and Africa, having grown by 3.8% annually to $400 billion between 2014-19. The consultancy says the wealth management industry's value proposition will change over the next two decades, new forms of interaction will evolve, as well as new business models.