Banks in UAE have launched a new network to verify documents to prevent financial fraud. Jamal Saleh, director general of UAE Banks Federation, said they have come up with a new initiative to stop …
Ministry of Finance kicks off 2023 ACFE Fraud Conference
Technological advancements and digital initiatives are providing fraudsters with new tools to penetrate defences …
Saudi Arabia’s AI powerhouse, Mozn announces GCC expansion as it launches into the UAE
Regional AI leader to bring AML and Anti-Fraud capabilities to financial institutions across the Emirates, GCC, boosting their compliance journeys and accelerating economic progress …
Abu Dhabi’s ADGM financial centre to expand by ten times
Abu Dhabi’s ADGM financial freezone will expand its area of jurisdiction by ten times, it said on Monday, part of the United Arab Emirates push to make its financial sector a major contributor to the …
UAE to become next Silicon Valley, say experts at summit
Exploring the seamless possibilities of AI, policymakers from the public sector, businesses, and academia opined that Dubai and the UAE are rapidly becoming a hub of advanced technologies, particularl …
UAE corporation tax: what startups need to know
Rayhan Aleem is the founder of Alpha Pro Partners, a UAE-based accounting firm focused on the tech sector. The UAE has long been …
E& Joins Dubai Fintech Summit As A Headline Sponsor – ZEX PR WIRE
Dubai, UAE, 7th May 2023, zex pr wire , e& – one of the world’s largest technology and investment groups, has joined the first-ever Dubai FinTech Summit as the Headline Sponsor to share its expertise …
EDB and MoE recognise partners for Bank’s Credit Guarantee Scheme
Emirates Development Bank, a key financial engine for the economic development and industrial advancement of the UAE, and the Ministry of Economy …
UAE: Ajman Bank achieves over $13.3mln net profits in Q1-23
Ajman Bank generated AED 49.15 million in net profit during the first quarter (Q1) of 2023, an annual hike from AED 33.92 million. Net operating income amounted to AED 231.57 million in Q1-23, higher …
Bank of Sharjah boosts capital by $218mln to $820mln
The bank said after its Annual General Meeting that this move is set to enhance its financial position and foster future growth …
UAE: Can a bank confiscate my vehicle if I default on loan payments?
Question: As a cost-cutting measure, I have had to take a pay cut. I have a year’s EMIs pending on my car loan, but no other liabilities. Can my vehicle be..
Dubai’s Growing Commodities Hub Is Now Enticing London Traders
London’s commodities merchants are following some of their Swiss peers to Dubai, as the emirate moves from being an outpost focused on crude to a major energy trading hub. (Bloomberg) — London’s …
Maktoum bin Mohammed’s statement on UAE Armed Forces Unification Day
UAE Armed Forces Unification Day marks a pivotal moment in the nation’s history – “Under the guidance of the leadership, the UAE’s armed forces have proven their ability to protect the nation and its …
Geidea backs Dubai FinTech Summit calls for harmonised regulatory framework in GCC
ZEX PR WIRE , One of Middle East’s largest FinTech companies Geidea has become the latest sponsor of the Dubai FinTech Summit, a platform it will use to call for a harmonised regulatory framework in …
Middle East IPOs: Is this time different?
As the Gulf IPO boom subsides, will better allocations for international investors, dual listings and better secondary-market liquidity be enough to ensure that the region’s equity capital markets can …
EIIC buys Mubadala’s 7.6% stake in Abu Dhabi Islamic Bank
Emirates International Investment Company, the strategic investment arm of National Holding, has acquired a 7.6 per cent stake in Abu Dhabi Islamic Bank, the UAE’s second largest Islamic lender by …
Dubai Empower Q1 net profit down 6%, misses estimate
Dubai Financial Market-listed Emirates Central Cooling Systems Corporation, known as Empower, said it made a net profit attributable to owners of 167.3 million dirhams ($46 million), nearly 8% lower …