Pest Analysis of Uae Banks
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Executive Summary
In this report we did a meticulously researched investment products and financial services for Ms Prakesh, Regional Marketing Manager of MFS. We wrote about banks in the UAE and the tow main categories of banks that are local banks and branches of foreign banks. However the number of banks of both national and foreign banks reached 61 banks, which shows the success of the financial services in the UAE. We also analysis the external macro-environment that affects all firms of industry, PEST analysis is a short form of Political, Economic, Social, and Technological factors that should be considered for any foreign investment. We have analysis for Ms Prakesh all those factors and we found that the UAE is a very suitable for open a business because it have a developed and increased financial income. The UAE have shown a success in many fields like the Internet, education, medical, growth GDP and trades. In this report also we wrote about the competitors, about their products and services and promotions. Ms Prakesh is interesting in Islamic Banking so we have researched about it and we wrote about one of the Islamic banks in the UAE, which is Abu Dhabi Islamic Bank.
Table of content
Executive Summary
Introduction
Pest Analysis
Political Factors
Economic Factors
Social Factors
Technological Factors
Number of users
% POP
What does PEST tells Ms. Prakesh?
General information about Banks in the UAE
Volume
Banks in the UAE
Value
Competitors
Product and Services
Abu Dhabi Islamic Bank
1. Deposit Product
2. Cards
3. Financing product
4. Branches
Abu Dhabi Commercial Bank
5. E-Dirham
6. Loans
Promotion and advertising strategies
Distribution strategies
Pricing strategies
Comparison Table
Conclusion
Bibliography
Introduction
Mid-east Financial Services (MFS) is the local investment-banking part of the Global Bank Group (GBG); it has been growing steadily over the last five years. As our position in marketing and public relations assistant to Mr. Prakesh the new highly motivated and dynamic Regional Marketing Manager, who is interesting in Islamic banking and wants to know information about UAE markets, competitors and customers. He asked us to give him information about the marketing environment of the UAE.
In this report we identify the PEST analysis that may help him to develop the market in the UAE, comparison between Islamic and ordinary banks, information about the promotion, advertising, distribution and pricing strategies.
Pest Analysis
Political Factors
There are seven dependent emirates and each emirate headed by it’s own ruler. The seven emirates have united since 1971 and the president become the ruler of Abu Dhabi who is H.H Sheikh Zayed bin Sultan Al Nahyan. There is no elected government in the UAE, but optional Federal National Council, which contain 40 members chosen by the seven emirates. The UAE also is a member of the GCC.
The UAE have a stable political environment, which force any businessman to open his business here. It has a very strong relations with other countries. It helps many needed or poor countries in the world. The UAE is a peaceful country, always trying to solve the problems peacefully. The biggest example is the problem with Iran about the three islands, until now the government is trying to take them back peacefully and without any problems for both countries.
In 1994, the UAE