DUBAI, March 27 (Reuters) - Dubai-based investment bank Arqaam Capital is launching a globally focused hedge fund, it said on Monday, becoming one of only a handful of local firms to offer such a product. Although Dubai has been growing rapidly as a banking centre, the local fund management industry has largely confined itself to traditional equity and fixed income funds which focus on the Middle East region. Areski Iberrakene, who will manage the new Cayman Islands-domiciled, British-regulated fund from London, said Arqaam was growing and wanted to diversify beyond the region....