Dubai is seen by many industry watchers as the leading center of Islamic finance today. It has more sukuk listed than anywhere else, with $16 billion worth, and international investors are flocking to the emirate's latest sukuk issuances and initial public offerings.
But inflation is causing some businesses based in Dubai to grumble, with high costs and wage pressures serving as a reminder that booms come at a price. Inflation in the United Arab Emirates reportedly topped 10% last year, and the dollar-pegged dirham is not making things any easier.
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