IslamicFinance.de

According to the recently released “Global wealth management outlook 2014-15: New strategies for a changing industry” by Strategy&, the GCC has been the most consistent of the emerging markets, recording growth of 16 percent or more each year since 2010 and doubling total private wealth from $1.1 trillion to $2.2 trillion for an overall compound annual growth rate (CAGR) of 17.5 percent. The UAE led the GCC countries with 25 percent CAGR, followed by Oman (21 percent) and Bahrain (18 percent), which grew from much smaller bases. Not surprisingly, high-net-worth individuals (HNWIs) continue to account for the largest chunk of the region’s wealth at 41 percent.