As per the Standard Chartered Bank ''Economic Outlook 2011', there is economic recovery happening in UAE and that makes the region one of the most sought after one in the region. This is good news considering the fact that economic recovery has come after a long wait of deadlock that came to be seen since December 2009.

Experts are of the view that estimated growth in 2010 was 3 per cent and in 2011 they are going to gain more momentum. There is not going to be boom and the rate of growth is going to be 4 per cent. The report also said that the major contributors were hydrocarbons, manufacturing, other services, construction, trade and also financial services.

The country is also hopeful that trade sector compared to Dubai and infrastructure in comparison with Abu Dhabi are going to happen by 2011.

All this together spells good news for the UK-based bank since Dubai has its role as the worlds third-largest re-export centre. While 2010 has seen rebound in the trading activities, it has not gained momentum till now.

When the economy is growing there is ample need for funds and this is where opportunity for the bank lies. Credit growth till now has been weak but there is going to be a surge in demand.