Located on the Persian Gulf, Dubai is the name of the most populous of the seven United Arab Emirates (UAE), although the main city is also refered to as Dubai.

The city with its economic free zones offers an attractive environment to large multi-national corporations. The recent establishment of the Dubai International Finance Centre (DIFC) is in part responsible for the rapid increase of development. The DIFC offers the same benefits as the other economic free zones, allowing for complete foreign ownership and no restrictions on foreign exchange. In addition, the DIFC has been established with a zero tax on income and profits. Providing thousands of new jobs within the variety of financial services, the DIFC is expected to go from strength to strength. Sourcing skilled professional both locally and internationally, positions are available in investment, corporate and private banking, as well as in the sectors of capital markets, asset management and reinsurance. Although these are by no means the only areas in need of professionals within the banking sector.

In terms of Compliance Careers, and Banking Compliance in particular it is not only the DIFC which is able to make use of skilled individuals. Within the emirate there is a need for strict observations of international regulations. Given the speed of growth of the financial sector Dubai is very keen to encourage Compliance professionals to the country to oversee the growth of the financial sector in an orderly manner. Aware of the risks of uncontrolled expansion, the emirate is keen grow but that growth is tempered by a common sense approach to the control of risks, and Banking Compliance risks in particular.

One subset of Banking Compliance Careers is the ever expanding area of Anti-Money Laundering oversight and adherence to both local and international rules. Compliance and AML are often tied together and this area is taken seriously by the Dubai authorities who are keen to be seen on the forefront of AML practice internationally.

Professionals who successfully engage the employment challenges of this progressive and fast developing city are likely to be doing their career prospects a great service. Those who engage in the appropriate etiquette and approach the local life with a respect for cultural difference will find a truly enriching experience.