UAE banking rules tighten as foreign bank faces Dh1.82 million penalty / Image – file The Central Bank of the UAE (CBUAE) has imposed a Dh1.82 million financial penalty on a branch of a foreign bank operating in the country after finding that it failed to issue a customer’s liability letter within the legally required […]
UAE tightens grip on regulated crypto economy with Crypto.com deal / Image: file The UAE has taken another major step toward becoming a global digital finance hub after Crypto.com became the first cryptocurrency platform to receive a Stored Value Facilities (SVF) licence from the Central Bank of the UAE.The licence was granted to the company’s […]
Central Bank rate cut brings relief for UAE borrowers / Image: File The Central Bank of the UAE lowered its base rate for the Overnight Deposit Facility (ODF) by 0.25 percentage points, from 3.90% to 3.65%, following a similar move by the US Federal Reserve. The cut takes effect immediately and is described by the […]
UAE President Sheikh Mohamed bin Zayed appointed four experienced leaders as Assistant Governors at CBUAE/Image: CBUAE In a significant move aimed at strengthening the leadership of the UAE’s financial sector, President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a federal decree appointing four new Assistant Governors at the Central Bank of the […]
