"Is supported by the Dubai government (UAE) and Arab banks."
I stop reading right there.
I don't remember the last time in history that investing in banks and governments was a good idea in the long therm. Those who are in favor of cryptocurrency and freedom, should not invest in this kind of coin. It's like using the technology to give the power back to them.
You shouldn't compare Arabic countries like UAE to other for example in Europe because it is tax free and The United Arab Emirates has a presidential, federal, and despotic monarchy.
Ok, but who is in charge of the current currency price there? The government and its banks or the actual coin holders? Do you believe it would be different with a cryptocurrency?