THE BUSINESS CASE FOR THE DIFC: Contributed by the DIFC
THE UNITED ARAB EMIRATES AND DUBAI
Established on 2 December 1971, the United Arab Emirates ("UAE") is a federation comprised of seven Emirates: Abu Dhabi (the capital of the UAE), Dubai, Sharjah, Ras Al Khaimah, Umm Al Quwain, Ajman and Fujairah. Since the federation was established, the UAE has rapidly grown into a modern state and has become one of the Middle East's most important economic centres.
As a federation, there are specific areas of authority constitutionally assigned to the UAE Federal Government (the "Federal Government"), with other powers reserved for member Emirates. The Federal Government is responsible for: foreign affairs, security and defence; nationality and immigration issues; education; public health; currency; postal, telephone and other communication services; air traffic control; licensing of aircraft; labour relations; financial services (including banking and insurance); delimitation of territorial waters and extradition of criminals. Powers not specifically assigned to the Federal Government are exercised by each of the Emirates.