Savings in bank accounts of UAE residents have increased from Dh10 billion to nearly Dh199 billion during January and April this year.
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UAE, Egypt central banks to ramp up banking supervision
Dubai: The Central banks of the UAE of the UAE and Egypt plan to strengthen supervisory cooperation through a nee MoU. It outlines the mechanisms of information exchange to facilitate their …
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Covid: UAE residents’ savings swell to Dh199 billion during pandemic
UAE residents’ savings have swelled during Covid as pandemic-induced restrictions and lockdowns led people to spend less on travel, entertainment, fuel expenses and shopping. The latest data released …
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Aafaq Islamic Finance forges transformational partnership with The Social Loan Company to drive financial inclusion
The Social Loan Company (TSLC), a Singapore-based AI/ML-powered cutting-edge big data-driven credit enablement platform company, has forged a transformational partnership with Aafaq Islamic Finance to …
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UAE bans entry of passengers from Zambia, Congo and Uganda
The UAE has suspended the entry of travellers from Zambia, the Democratic Republic of the Congo and Uganda on all flights of national and foreign carriers, effective June 11. The General Civil …
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UAE central bank unveils whistleblowing portal
The Central Bank of the UAE (CBUAE) has introduced a whistleblowing portal to allow internal and external stakeholders to anonymously raise any concernsthe related to misconduct or policy violations …
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New UAE ultimate beneficial owner law looks to crack down on money laundering
New regulations ensure financial transparency around business ownership to better combat money laundering and terrorist financing …
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UAE banks’ H1 results to reflect improving economy
The UAE banking sector has witnessed a sizeable improvement in profitability in the first quarter, and the trend is likely to continue for subsequent quarters. – Asad Ahmed, A&M Managing Director …
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Desert Control joins Dubai’s in5’s alumni network after raising Dhs85m in IPO
Desert Control is ready to launch its commercial rollout of liquid natural clay that turns deserts into fertile land.
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New Regulation to ensure efficient risk management of UAE banks’ outsourcing activities
ABU DHABI- The Central Bank of the UAE (CBUAE) has issued a new Outsourcing Regulation and accompanying Standards for banks operating in the UAE, as part of its ongoing efforts to introduce robust …
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Abu Dhabi Islamic Bank, Visa Launch eCommerce Biometrics In UAE
The first biometrics authentication solution for online transactions in the UAE is being introduced by Abu Dhabi Islamic Bank in collaboration with Visa.
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UAE Central Bank issues new outsourcing regulation
Dubai: The UAE Central Bank has issued a new outsourcing regulation for banks. The new set of rules are part of the regulator’s ongoing efforts to introduce robust regulatory frameworks that safeguard …
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Revealed: How the UAE’s largest banks bounced back during Q1
The 10 largest listed banks in the UAE saw aggregate net income jump by 85 percent in the first quarter of 2021 compared to the previous three months, according to new research from global …
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Desert Control joins in5’s alumni network after $23m IPO
Agri-tech startup Desert Control is ready to launch commercial rollout of liquid natural clay (LNC) – an innovation that turns deserts into fertile land – after joining the alumni network of in5, an …
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Desert Control’s liquid natural clay turns deserts into fertile land
Environmental technology startup opens an office in Dubai and expands to Abu Dhabi to scale up commercial operations after graduating from in5.
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UAE-based Ziina raises $7.5m in latest funding round
Ziina, the UAE’s first Peer-to-Peer (P2P) payment application, which is backed by Y-Combinator (YC), announced its latest funding round of $7.5 million. The round which closed in May 2021 will help …
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UAE-based payment app Ziina raises $7.5m
Dubai: The UAE peer-to-peer (P2P) payment app Ziina secured $7.5 million in its latest funding round. Funds raised will help the company launch its new ‘digital wallet’ service and fuel expansion into …
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