Paper Topic:

Managing the Financial Future

1 Country Background

The United Arab Emirates is a federation located in the Middle East and comprises of seven emirates : Abu Dhabi , Dubai , Sharjah , Ajman , Umm Al-Qaiwain , Fujairah , and Ras Al-Khaimah

The population of U .A .E . in 2006 was 4 .2 million , the GDP : US 132 .22 billion and the Per Capita Income : US 28 ,000 . Amongst the 7 Emirates , Dubai has become a commercial center and has now consolidated its position as the key-trading route between the east and the west

1 .1 Industry

Several industries exist in the

U .A .E . and one of the most prominent is the banking industry . The banking sector is well established and advanced . Sound rules and regulations set up by the Central Bank have contributed to the dynamic growth of this industry . As of September 2006 , the offices : 21 and branches : 356 ) and the branches were 112 (head offices : 25 and branches : 87

The U .A .E . offers an attractive investment opportunity given the large target market in terms of demographic and psychographic characteristics the quality of infrastructure , rapid development of the legal environment and the caliber of residents in the country

2 . Introduction to Citibank

In a world of great diversity , there is one unique global presence in banking and financial services . It is unique in its composition and strength . It is an interactive network of businesses that span 100 countries , with 300 ,000 employees and 200 million customer accounts This is Citigroup

Refer Appendix

2 .1 Company Background

Citigroup 's goal is to be the most respected global financial services company . This objective forms the basis of Citibank 's mission and vision statements

Mission : Be the dominant and most responsive financial services provider in the world , with the best and brightest staff , committed to innovation , exceptional customer service and product delivery to achieve consistently impressive financial results

Vision : To be a high growth business by achieving preeminence amongst financial institutions through constantly creating exceptional value for our customers , employees , and stakeholders

Products and services offered by the bank in UAE are : credit cards loans , personal accounts , Citigold , investment and treasury center Citibusiness , Bon Voyage Travel Services , Citiphone banking , Citibank alerting services , email statements , and Citibank Online

For this assignment , I 've chosen the Financial Department of Citibank Dubai . The financial documents of the bank provided by this department are analyzed . The project chosen to be financially analyzed is the financial center at Dubai Village

3 Financial Management

Financial Management can be defined as

The management of the finances of a business / organization in to achieve financial objectives

There are three key elements to the process of financial management

a ) Financial Planning where management ensures that enough funds are available at the right time to meet the needs of the business

b ) Financial Control a critical activity that helps the business ensure that objectives are met

c ) Financial Decision-making is related to investment , financing , and dividends

4 Finance Planning Control

Financial planning is a set of goals and strategies...

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