ABSTRACT
There is no official stock market in the UAE and most trading is conducted informally on the telephone through brokers, located mainly in Abu Dhabi and Dubai. At the end of 1996, there were 40 shares traded and 10 brokerage companies licenced by the central bank. Share prices are published in newspapers and price movements are monitored by the unofficial index set up by the National Bank of Abu Dhabi in 1989 with a base of 1,000 points.
