The amendments include the establishment of the National Committee for Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations, to be formed by a Cabinet …
Dubai Investments PJSC reveals robust Q2 profit, highlights future projects
Dubai Investments PJSC, a prominent company listed on the Dubai Financial Market, announced a net profit of AED 289 million for the second quarter of …
Al Ansari Financial Services reveals lower profits for first half of 2024
Al Ansari Financial Services, which is listed on the Dubai Financial Market, has released its financial results for the first half and second quarter …
UAE amends anti-money laundering laws
The UAE’s laws on anti-money laundering and the financing of terrorism and illegal organisations have been amended, the government has announced. The amendments are designed to support efforts to …
UAE: Can bank customers recover money lost in unauthorised card transactions?
Furthermore, the financial institutions in the UAE are obligated to educate their customers and the the public about financial crimes. This obligation is under Clause 6.2.2.6 of the Consumer …
UAE Pioneers Digital Asset Regulation in Islamic Finance
Arabian Post Staff The United Arab Emirates is emerging as a front-runner in the realm of Islamic finance, particularly through its innovative approach to digital asset regulation. As financial …
UAE Suspends 32 Gold Refineries in Anti-Money Laundering Initiative
The United Arab Emirates (UAE) announced the temporary suspension of operations at 32 gold refineries as part of a sweeping effort to combat money laundering and related financial crimes. According …
ICAEW partners with UAE Banks Federation to help firms navigate booming digital assets landscape
The partnership aligns with the UAE’s advanced Central Bank Digital Currencies (CBDCs) pilot, as the digital assets market nears $80 billion by 2024 …
UAE-based Company lodges ‘extortion claim’ against Ecobank
A United Arab Emirate based Company, Agrico Agbe has lodged extortion claims with the Central Bank of Nigeria against Ecobank Transnational Incorporated, a subsidiary of Ecobank specialized in …
Spinneys Reports Highest Ever First-Half Revenues Of Dh1.6 Billion
Spinneys one of the UAE’s leading fresh food retailers, on Thursday announced that first-half revenues reached a record high of Dh1.6 billion, incr …
Spinneys posts record 9.9% revenue growth in H1 2024, announces first post-IPO dividend
Spinneys’ board has approved its first post-IPO interim dividend of AED102.6 million, equivalent to 2.85 fils per share, representing 70 percent of distributable profits …
Spinneys H1 net profit rises 15.2%, Dhs102.6m in interim dividend approved
Spinneys’ strong financial performance highlights its strategic focus on operational efficiency and premium product offerings …
UAE retailer Spinneys posts $20mln profit for Q2 2024
Dubai-listed supermarket operator Spinneys has announced a profit of 72 million dirhams ($20 million) for the second quarter of 2024, up 17.8% year-on-year.
UAE national banks provided Dhs 25.7 billion in credit facilities to business, industrial sectors in 5 months
Credit facilities provided by the UAE national banks to the business and industrial sectors amounted to Dhs 25.7 billion during the first five months of 2024, …
Dubai-based firm launches ‘$250m’ payment platform for banks, telcos
The Network International, a Dubai-based financial services firm, has announced the launch of its cloud-based, integrated payment suite known as Network One.
ICAEW and UAE Banks Federation partner to guide firms in digital currency adoption
The panel emphasised the inevitability of complete financial digitisation, with the UAE already leading in AI adoption …
UAE remains GCC’s fastest growing economy in 2024-25 despite slowdown
The IMF also projected about 4 per cent GDP growth in 2024 in May, revising up from the 3.5 per cent forecast it released in April …