Despite its recent growth, Dubai's potential is handicapped by the strata and complication of its laws.
The city's main thoroughfare is lined by luxurious skyscrapers, but walking between them means negotiating sandpits and rubble. A similar disconnection in the law is hampering the growth of the banks in those offices.
The Dubai International Financial Centre (DIFC) has been an unmitigated success since its inception in 2004. There are now over 400 entities registered for business there. In May 2007 alone, Société...