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In a decisive move to uphold the integrity of its financial system, the Central Bank of the UAE (CBUAE) has levied a hefty fine of Dh4.8 million against a money exchange entity operating within the country. This action comes in response to the exchange’s inadequate compliance measures, which posed potential risks in the facilitation of …
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UAE customers can open UK-based multi-currency accounts and apply for UK home financing using the ADCB-Nomo and Al Hilal-Nomo apps. Abu Dhabi Commercial Bank (ADCB) and its Shariah-compliant digital banking subsidiary, Al Hilal Bank, have announced a groundbreaking partnership with the Bank of London and the Middle East (BLME) to introduce digital UK banking services …
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Sheikh Mohammed’s visionary leadership drives economic growth, innovation, and technological advancements in the UAE. Over the past 17 years, the UAE economy has experienced exceptional growth under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. During his tenure, the real …
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The Central Bank of the UAE and the Reserve Bank of India have signed an MoU to collaborate on FinTech innovation, including Central Bank Digital Currencies (CBDCs). The Central Bank of the United Arab Emirates (CBUAE) and the Reserve Bank of India (RBI) have entered into a Memorandum of Understanding (MoU) to strengthen cooperation and …
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The IMF approves a $5.4 billion disbursement to Argentina, advancing the nation’s struggling economic program. The International Monetary Fund (IMF) has given its approval for a $5.4 billion disbursement to Argentina, marking a crucial advancement in the nation’s economic program that has faced obstacles due to a deteriorating economic outlook. The IMF executive board’s decision …
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FAB Boosts UAE’s Net-Zero Ambitions with Targeted Green Financing First Abu Dhabi Bank (FAB), the UAE’s largest banking institution, has announced its plans to provide green financing to high carbon-emitting sectors in order to support the country’s net-zero goals by 2050. The bank initially aims to finance sustainability-linked projects in three sectors – aviation, oil …
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The UAE ranks first in the Middle East and third globally for foreign direct investment (FDI) confidence, according to Kearney’s 2023 FDICI Emerging Markets ranking. The United Arab Emirates (UAE) has been ranked as the leading emerging market for foreign direct investment (FDI) confidence in the Middle East and North Africa (MENA) region, according to …
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Abu Dhabi Global Market’s Registration Authority imposed a $3.8 million penalty on Half Moon Investments and its directors for failing to meet annual filing deadlines. Abu Dhabi Global Market’s (ADGM) Registration Authority (RA) has imposed a $3.8 million penalty on Half Moon Investments Limited and its three directors for failing to meet filing deadlines. The …
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The European Central Bank (ECB) has gone ahead with its plan to raise interest rates by 50 basis points, in spite of the recent market turmoil caused by the collapse of Silicon Valley Bank (SVB) in the United States. The bank, which serves 20 countries that share the euro, has been increasing rates at a …
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Commercial Bank of Dubai (CBD) has partnered with PwC’s Academy to launch a transformative Digital Accelerator Programme that aims to equip its employees with the necessary digital competencies to drive innovation, enhance their skills and bring their creative solutions to life. The programme is designed to invest in CBD’s employees, fueling their potential to shape …
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