Why it matters: More than a dozen foreign banks operate in Dubai. Many of the prominent international banks in the city, such as JP Morgan and Deutsche Bank, are located in the Dubai International …
Dubai Ruler Introduces a 20% Yearly Tax on Foreign Banks
A recent legislation has been enacted about the taxation of foreign banks in operation in Dubai. The law applies to all foreign banks within the emirate, encompassing special development zones and …
Dubai: Sheikh Mohammed announces new 20% annual tax on foreign banks
A new law has been issued regarding the tax on foreign banks operating in Dubai. The provisions of the law apply to all foreign banks operating in the emirate, including special development zones and …
UAE: New financial unit to resolve consumer complaints with banks, insurance firms
Are you facing a service issue with a licenced financial institution or insurance company?Now, an independent ombudsman unit named Sanadak – a first of its kind in the region, has been launched for …
QuantL AI, the revolutionary trading system launches in Dubai
Spearheaded by Madhur Kakkar, QuantL AI has marked the end of its waitlist phase and is now focusing on enhancing its services and strategies …
UAE’s banking sector shows growth, stability
In the Emirate of Dubai, the banking sector witnessed robust growth by the end of 2023, with assets and investments surging past the 2 trillion dirha …
UBF CEOs Advisory Council meeting discusses 2024 initiatives to develop banking sector
The Council reviewed the Federation’s efforts to improve banking operations and the initiatives to consolidate the UAE’s position as a global financial and banking hub, which are being implemented …
UAE’s new financial ombudsman to oversee consumer complaints
UAE consumers can now lodge complaints against banks and licensed insurance companies through Sanadak, the country’s first ombudsman unit, which aims to resolve customer issues within the financial …
UAE strengthens anti-financial crime efforts with new MoU
The Executive Office of Anti-Money Laundering and Counter-Terrorism Financing and Dubai Police will bolster the UAE’s anti-financial crime stance …
Commercial Bank of Dubai AGM approves 50% cash dividend for 2023
Image Credit: Supplied Dubai: Commercial Bank of Dubai’s annual general meeting of its board of directors adopted the decision to distribute cash dividends at a rate of 50 per cent of the bank’s net …
Shuaa Capital’s legal head steps down as investment bank grapples with restructuring
Dubai-listed investment bank has seen the resignation of at least three senior management team members since November …
UAE: Indian rupee touches 6-month high but retreats after likely intervention
The market is also buying, as current levels on the dollar-rupee pair are quite appealing for importers, says a foreign exchange trader …
Charity in UAE during Ramadan: Banned and legal practices explained
As UAE residents prepare to make donations during Ramadan, authorities have encouraged them to understand permissible and prohibited practices. In addition..
Etihad Airways CEO Hints At IPO Listing, Says Airlines Going Public Isn’t ‘Uncommon’
Airlines going public with an IPO listing is not“uncommon”, Antonoaldo Neves, CEO of Etihad Airways, said amid speculations of its possible listing …
Is Etihad Planning an IPO? ‘I’m Working To Be Ready’ Says CEO
The new comments from Antonoaldo Neves suggest that Etihad is taking the possibility of an IPO very seriously.
Could Etihad Airways become first Gulf airline to launch IPO?
The airline reported on Wednesday that it made a net profit for 2023 and 2022 after a string of substantial losses since 2016.
UAE executive office of anti-money laundering and counter terrorism financing and Dubai Police enhance joint forces to combat financial crimes
The official signing ceremony occurred on the sidelines of the third edition of the World Police Summit, held from 5-7 at the World Trade Centre in Dubai …