Regulatory initiatives such as the UAE Central Bank’s move to give legal clarity to payment token issuers through its Payment Token Services Regulation are accelerating the shift
Banking & Finance
banking industry
Ahmed Abdelaal: How Mashreq’s CEO is redefining digital banking in the Middle East
Ahmed Abdelaal, Group CEO of Mashreq, on humanising digital transformation, building a bank that listens, and reshaping the role of financial institutions in a changing world
halal
UAE sets $697bn Islamic bank target and aims for Halal export boost; Cabinet reviews tourism sector amid $122.5bn goal
UAE Cabinet meeting reviews Islamic finance, tourism and Hajj strategies
Federal Tax Authority
UAE clarifies tax rules for real estate investors
UAE tax authorities issue public clarification over Corporate Tax rules for investors in Real Estate Investment Trust
Abu Dhabi
Key verticals deliver as Alpha Dhabi’s Q1 revenue surge 23% to $4.74bn
Adjusted EBITDA rises 33% to $1.2bn; Real estate and industrial revenues at $1.74bn and $1.69bn respectively
Arcapita
Arcapita expands US private equity portfolio with the acquisition of Trustpoint
A leading legal services provider that serves top 100 law firms and a variety of Fortune 500 companies
Artificial intelligence
NEOM to invest in MemryX’s energy-efficient semiconductors business
NEOM Investment Fund adds the Michigan startup to its portfolio; NEOM will deploy the next-generation, energy-efficient edge AI accelerators
Dubai real estate
Dubai’s OMNIYAT raises $500mn in inaugural green sukuk
Ultra-luxury real estate developer enters international debt capital markets for the first time with oversubscribed green issuance
DMCC
Dubai free zone announces 2 new business categories
DMCC introduces Special Purpose Vehicle and Holding Company licenses in Dubai
Freezone
Dubai-based MBS Global to help create $8.8bn financial hub in Maldives
Maldives International Financial Centre to be a freezone that aims to diversify the country’s tourism-dependent economy and add $1bn annually to the GDP in 5 years
Brand View
The Family Office launches financial goal in the UAE, empowering investors to plan and achieve long-term financial goals through tailored private market strategies
The Family Office’s Financial Goal tool is the go-to solution for structured, long-term and resilient investment strategies grounded in private markets.
crypto
Kuwait bans cryptocurrency mining
Kuwait has banned cryptocurrency mining and is cracking down on the activity due to strains on electricity network
Attestation services
UAE tax rule; May petrol prices revealed; Trump Tower in Dubai; Viral chocolate maker speaks out – 10 things you missed this week
UAE and Saudi tax updates; Dubai viral chocolate maker interview, May petrol prices revealed, Trump Tower coming to Sheikh Zayed Road and more news stories
Public Investment Fund
Saudi PIF prices $1.25bn sukuk offering amid strong demand
The Saudi sovereign wealth fund’s dollar-denominated sukuk drew over $9 billion in orders, highlighting strong global investor confidence
Abu Dhabi
Mubadala Capital and TWG Global in a game-changing partnership
SWF Global says it signals “the evolving relationship between PEs and SWFs”; Mubadala Capital to anchor a $10bn investment in TWG, which picks up minority stake in the Abu Dhabi company
saudi tax
Saudi Arabia issues tax update
Saudi Arabia urges taxpayers to take advantage of fine waiver before June 30
Blockchain
Dubai real estate: MAG, MultiBank and Mavryk team up to tokenise $3bn of luxury property
Blockchain innovators and Dubai real estate developer sign $3bn property investment tokenisation deal