Abu Dhabi
Al Hilal London Bank Partnership: UAE Customers Can Open UK Bank Accounts
ADCB and its Shari’ah compliant digital banking subsidiary Al Hilal Bank have announced an innovative new partnership with Bank of London and the Middle East (BLME) to bring digital UK banking to UAE nationals and residents through Nomo. Customers in
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First Islamic Bank To Go Live on the UAE KYC Blockchain Platform
Abu Dhabi Islamic Bank (ADIB) has become the first Islamic bank to go live on the UAE Know Your Customer Blockchain Platform, a national ecosystem for the exchange of verified KYC data between licensing authorities and financial institutions. Dubai’s Department
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UAE’s Ministry of Finance Aims to Reduce Startups, SMEs’ Corporate Tax Burden
The United Arab Emirates’ Ministry of Finance (MoF) announced that taxable persons that are resident persons can claim Small Business Relief where their revenue in the relevant tax period and previous tax periods is below AED3 million for each tax
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e& to Acquire a $400m Majority Stake in Careem
e& announced the signing of a binding agreement with Uber and its subsidiary Careem to acquire a majority stake in Careem’s Super App spinout. Careem’s ride-hailing business will remain fully owned by Uber and continue to be available with all
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UAE Central Selects Tech, Infrastructure and Legal Partners for CBDC Project
The Central Bank of the UAE (CBUAE) has launched its Central Bank Digital Currency (CBDC) Implementation Strategy in collaboration with R3, G42 Cloud and Clifford Chance. For Phase 1, R3 and G42 Cloud have been selected as the technology and infrastructure providers of the
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UAE Rolls Out Digital Dirham Project, First Phase to End by Mid-2024
The Central Bank of UAE (CBUAE) has engaged G42 Cloud and enterprise blockchain firm R3 as the infrastructure and technology providers respectively for its Central Bank Digital Currency (CBDC) implementation. The regulator indicated its readiness to embark on this venture
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Sygnum Bank Middle East Launches in Abu Dhabi
Sygnum Bank Middle East has received a Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA), following its in-principle approval in October 2022. Seasoned Middle East Executive, Giulia Finkbeiner-Bertoni, leads Sygnum’s operations across
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UAE and India to Test Cross Border Use Case of CBDCs
The Central Bank of the United Arab Emirates (CBUAE) and the Reserve Bank of India (RBI) have signed a Memorandum of Understanding (MoU) to enhance cooperation and jointly enable innovation in financial products and services. Under the MoU, the two
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Halo Investing Comes to Abu Dhabi
Halo Investing, a global Wealthtech headquartered in Chicago announced that it has secured its Financial Services Permission (“FSP”) from Abu Dhabi Global Market (“ADGM”)’s Financial Services Regulatory Authority (“FSRA”) effective 19 January 2023. Halo Investing secured 100m USD investment back in
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ADGM Partners With Zand Bank to Support Technology SMEs in Abu Dhabi
Abu Dhabi Global Market (ADGM)and Zand Bank PJSC, the UAE’s first all-digital bank licensed by the UAE Central Bank, have signed a Memorandum of Understanding (MoU) to support UAE Technology SMEs and provide preferential banking services. The agreement will focus
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