Dubai Cassation Court has ordered a local bank to pay Dh5.5 million to a customer whose account balance was seized by a bank employee in connivance with another defendant. The court was told that the …
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FinTech firm Ripple chooses Dubai’s DIFC for regional headquarters
Ripple, the enterprise blockchain solution for global payments, has established its regional headquarters in Dubai International Financial Centre (DIFC), the latter announced. Ripple has chosen DIFC …
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Dirty money Dubai
It’s a playground for the world’s rich and dubious – like the Guptas – where global corruption is the game, but Dubai’s days of impunity may be numbered.
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UAE says it will relax Islamic personal laws on drinking, cohabitation
The UAE government outlined the changes in greater detail in state … As part of the agreement, Israel agreed to suspend plans to annex territory in the West Bank that was outlined in President Trump …
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FinTech Ripple chooses Dubai International Financial Centre for regional headquarters
Ripple has chosen DIFC for its innovative regulations, expansive network and reputation as a leading global financial centre. Ripple and DIFC are aligned in their vision to shape the future of finance …
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Central Bank of the UAE Releases Updated Regulatory Guidelines for Digital Payments or Stored Value Facilities
Central bank of the UAE releases updated regulatory guidelines for digital payments or stored value facilities.
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UAE’s Noor Bank incorporates with DIB
Dubai: Dubai Islamic Bank (DIB) announced on Monday the completion of incorporating Noor Bank following the merger of the two banks and transfer of all banking relationships into DIB.The …
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Abu Dhabi’s neobank project a virtual win for UAE’s digital natives
A new digital bank will make its entry in Abu Dhabi, sending a strong message to brick and mortar financial institutions that winds of change are coming. First Abu Dhabi Bank (FAB), the UAE’s largest …
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Fintech thrives as digital transformation jolts finance sector
In the past nine months, 71 per cent of consumers in the UAE reported an increase in using digital payments, even when shopping in-store. The fintech industry is poised to benefit from the virtual …
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Over 321,000 benefit from UAE’s $27.24bln stimulus programme
UAE – The Central Bank of the UAE said on Thursday its wide-ranging stimulus package, the Targeted Economic Support Scheme (Tess), had directly impacted to date more than 321,000 beneficiaries …
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Dubai’s private developers may need to put up 50% in bank guarantees to launch offplan projects
Dubai: Launching a freehold project in Dubai is becoming tougher for private developers as they are now required to put up 50 per cent of the project value in the form of equity bank guarantees. The …
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UAE’s net investments in non-financial assets up at Dhs32.2 billion in H1
Net investment by the federal government and local governments in non-financial assets rose to Dhs32.2 billion in the first half of 2020, an increase of 40 per cent as compared with same period in …
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Over 321,000 benefit from UAE’s Dh100B stimulus programme
The Central Bank of the UAE said on Thursday its wide-ranging stimulus package, the Targeted Economic Support Scheme (Tess), had directly impacted to date more than 321,000 beneficiaries including 310 …
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Top Gulf Arab Bond Manager Hungry for Risk Eyes Oman and Bahrain
Franklin Templeton’s Gulf Arab bond fund hunkered down for U.S. election volatility by seeking refuge in cash and only the highest-rated debt.
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‘UAE, Saudi Arabia ready to rollover outstanding loans worth $2b each’
Pakistan began its hectic lobbying to secure rollover of loan deposits worth $4 billion from the Kingdom of Saudi Arabia and the United Arab Emirates scheduled to mature November-February period of …
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UAE to issue tax residency, commercial certificates
The UAE’s Federal Tax Authority (FTA) in coordination with the Ministry of Finance (MoF) has completed its preparations to issue both digital Tax Residency and Commercial Activities Certificates, a …
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Timeline: Key events behind suspension of Ant Group’s $37 billion IPO
An employee stands next to the logo of Ant Financial Services Group, Alibaba’s financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. REUTERS/Shu …
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