The oil-rich emirate styles itself as the “capital of capital”: it has $1.7tn of sovereign wealth holdings and it wants to use them to grow a financial sector to rival Dubai’s busy banking hub, while positioning itself as a safe, low-tax haven for the ultra wealthy.
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The ‘capital of capital’: Abu Dhabi’s pitch to become a global financial center
“The emergence of Abu Dhabi on the regional and global landscape has been absolutely remarkable,” said the head of Middle East at one of the largest asset managers expanding in...
