This was achieved after signing a conditional sale agreement valued at $190.6 million for a real estate project in Motor City
Banking & Finance
Artificial intelligence
AI’s impact expands beyond underwriting in insurance sector: Report
Underwriting and risk profiling remain the areas most positively impacted by AI, with 45.8 percent of industry professionals identifying them as the top beneficiaries
Abu Dhabi National Insurance Company
ADNIC to provide life insurance to Emiratis up to the age of 95
The scheme is part of the company’s strategic partnership with the Sheikh Zayed Housing Program
Central Bank of the UAE
UAE bank investments surge 16.2% to nearly $211bn in April 2025
In the UAE, Abu Dhabi banks led with investments of AED408.9 billion, followed by Dubai at AED296 billion
anti money laundering
UAE securities regulator fines company $1.36mn for money laundering violations
An investigation revealed that the sanctioned entity collaborated with an overseas company to engage in practices that targeted investors within the UAE
CBUAE
UAE central bank partners with Mercury to launch new joint venture
The joint venture will enhance the operations of the UAE’s national financial market infrastructure
Dubai
Asia’s largest institutional fund platform Gordian Capital plans move to Dubai
Acquired by IQ-EQ on Wednesday, Gordion has assets under management of $17bn, with offices in Singapore, Hong Kong and Tokyo
Aviation
PayCargo launches new digital payment platform in UAE with Emirates SkyCargo partnership
Emirates SkyCargo customers in the UAE can now process payments through credit card or direct debit
Cryptocurrency
Gulf Craft Group becomes first MENA shipyard to accept crypto payment
Developed in collaboration with ARP Pay, the service enables the conversion of stablecoins, including USDT and USDC, into AED or USD
Central Bank of the UAE
CBUAE joins hands with Presight to enhance UAE’s financial infrastructure
JV to deliver sovereign, AI-powered technological platforms and services to support and enhance the UAE’s financial market infrastructure
Abu Dhabi
First Abu Dhabi Bank’s H1 2025 profit jumps 26% to record AED10.63bn on strong non-interest income
The recorded profit marks the highest ever for a six-month period, boosted by strong fee and trading income and steady loan growth
Central Bank of the UAE
UAE central bank imposes $217,835 fine on exchange house
The exchange house failed to comply with CBUAE’s policies and procedures for combating money laundering and the financing of terrorism
Artificial intelligence
AI in fintech market set to surpass $79bn by 2030 as adoption surges
As financial institutions race to automate and optimise operations, AI adoption continues to grow, fueling strong market forecasts for the coming years.
binance
Binance launches world’s first Sharia-compliant multi-token cryptocurrency staking platform
Sharia Earn by Binance enables users to earn passive income from cryptocurrency investments whilst adhering to Islamic law
Abu Dhabi Global Market
Abu Dhabi’s Titanium Escrow crosses $5bn transaction mark
ADGM-based company completes five years of operations; UAE capital becoming the fundholding jurisdiction of choice for regional matters
UAE
UAE workers can now collect unemployment benefits at Al Ansari Exchange outlets
The service operates across more than 270 Al Ansari Exchange branches in UAE
financial institutions
Kenya’s Equity Group to open representative office in the UAE
The new office aims to facilitate business, trade and investment opportunities with the UAE, and the wider Middle East, India, Central and South Asia regions