Ethical Theory Assignment Example | Topics and Well Written Essays - 500 words - 1

Ethical Theory - Assignment Example this puts Kuwait as the most favorable location in the Islamic world as compared to Dubai owing to its central location and accessibility to the majority of the Islam entrepreneurs. Most of the Arab banks and the European counterparts are located in Kuwait, it is therefore, appropriate for Dubai to import its financial center to Kuwait (Economic and Political Research Dept, 2009). It is worth noting that, majority of the Islamic banks do the importation of the convention financial products from most of the European markets and other parents of the world. The fact that most of the inhabitants of the Middle East engage in trade, makes it suitable for Dubai to import its financial center (The University of Virginia, 2009 p.370). It is evident that, unlike Dubai, Kuwait does not suffer numerous challenges with regard to the development of its financial centers. It is worth noting that, Kuwait has robust and developed financial sectors with greater scope of development unlike Dubai. The fact that Dubai has limited domestic and corporate sectors that reflects on the shareholdings of the state, this make it feasible for importing its financial center (Great Britain. D ept. of Trade & Great Britain. Dept. of Industry, 2010 p.430). It is imperative that Kuwait has sufficient human capital unlike Dubai that is characterized by lack of skilled staff hence inability to develop its financial centers. The problem of developing the financial centers is compounded by the magnificent government sector in Dubai. It is also important to note that, Kuwait has a robust financial cum business environment that forms the basis of a successful financial center. In this regard, Kuwait does well on tax remuneration with respect to the stipulated government policies. The country also has extensive expatriate staff who can offer the needed advice accordingly (University of Michigan, 2010). By pooling its financial centers in Kuwait, Dubai will be able to expand its global sovereign assets and