UAE introduces Know Your Customer platform as it looks to develop financial infrastructure
UAE finance
Latest in UAE finance
AML / CFT
Why the UAE is leading the way as the first Gulf country to be removed from the FATF grey list
This decision – which followed the UAE’s completion of 15 FATF recommendations – is a testament to the UAE’s unwavering commitment to anti-money laundering and combating the financing of terrorism
audit
UAE announces new law introducing authority to combat corruption and audit public finances
UAE’s President Sheikh Mohamed establishes Accountability Authority
Abu Dhabi Department of Economic Development
UAE finance sector up 13% in 2023
The UAE financial sector has witnessed 13 per cent growth this year Abu Dhabi Finance Week hears
debt
UAE debt capital market to hit $300bn by 2030: Fitch
UAE debt capital market is rising, having already reached $250bn this year
Ahmed Abdelaal
Ahmed Abdelaal – the powerhouse pushing Mashreq’s revolutionary digital mission
From MashreqNEO to MashreqNXT, the digital future of Mashreq is here to stay and is here to help its customers life their very best, most active lives
anti-money laundering
UAE slaps AED3.2mn fine on six companies for violating anti-money laundering laws
The non-financial business companies were found guilty for breaching the provisions of the UAE’s anti-money laundering and terrorism financing law
anti-financial crime
UAE on the global financial grey-list is a challenge for businesses to overcome
Concerns around the UAE’s grey listing are overblown
Central Bank of the UAE
UAE banks meet to discuss stronger compliance, removal from FATF grey list
Aside from discussing specific FATF guidelines, participants of the two-day event also talked about dealing with “emerging financial challenges”
finance
UAE leads in MENA venture capital funding, raising $699 million in first half
Pure Harvest Smart Farms’ deal in June $181 million mega round “drove the agriculture industry to the second-most funded rank” in the UAE over the first six months, this year
anti-money laundering
UAE imposes $11.2 million in penalties for anti-money laundering cases during first half of 2022
The country’s supervisory authorities also add six more sectors, including financial institutions, dealers in precious metals and stones, real estate and lawyers for risk assessments for anti-money laundering activities
UAE Banking
UAE central bank increases oversight of banks’ real estate exposures
The CBUAE unveiled today an enhanced framework to better monitor and supervise banks’ exposures to the real estate sector
financial institutions
Financial sector to benefit most from UAE weekend shift
UAE announced on Tuesday the plan to shift its weekend to Saturday and Sunday for federal government employees
Ahmed Al Qassim
Etihad Credit Insurance and Emirates NBD sign deal to support UAE’s exporters
Etihad Credit Insurance and Emirates NBD ink agreements to improve liquidity of the country’s exporters, in line with the Make it in the Emirates initiative
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Dr Ahmad Belhoul Al Falasi
Emirates Development Bank Strategy is $8.2bn blueprint to drive UAE economy
Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, said strategy will ‘pave the way for a new era of sustainable economic integration’
