The Central Bank of the UAE (CBUAE) and the Central Bank of Syria have signed a memorandum of understanding (MoU) on financial and technical cooperation. The agreement covers payment systems, monetary policy, cash management and financial technology. It also sets out a framework for capacity building and for sharing expertise and information on regulation. Other areas include climate risk management, sustainable finance, financial inclusion and financial literacy. Credit information systems, reporting and risk management frameworks also fall under the MoU. On the supervisory side, the agreement provides for the exchange of expertise on licensing, regulatory enforcement, compliance and consumer protection.…

The Central Bank of the UAE (CBUAE) and Bank Al-Maghrib, Morocco’s central bank, have signed two memoranda of understanding (MoUs). The first covers banking supervision and Islamic finance. The second explores links between the payment and financial messaging systems of both countries. Under the first MoU, the two central banks will deepen their cooperation on regulation and supervision. They will share supervisory information on banks and financial institutions. Both sides will coordinate on supervisory practices and regulations, share expertise and build institutional capacity. In Islamic banking, the MoU calls for closer coordination among Shariah governance bodies. It also aims to…

Microsoft has released its 2026 Digital Defense Report. Its data shows the UAE ranked sixth globally among countries where Microsoft customers were most frequently affected by cyber activity in the first half of 2026. The country ranked second in the Middle East and Africa. The report draws on more than 165 trillion security signals each day. It identifies three shifts. AI is accelerating both attacks and defence, and identity remains the primary route attackers use to gain access. Cyber incidents are increasingly affecting parties beyond the original victim. Meanwhile, Microsoft, the UAE Cyber Security Council (CSC) and Core42 plan to…

LexisNexis has launched Lexis+ with Protégé, its legal AI platform, in the Middle East and North Africa (MENA). The rollout starts in the UAE. The platform helps lawyers with research, analysis and drafting. The launch marks 16 years since LexisNexis brought its first legal research product to the region. Local legal professionals helped build and test the platform. Users can ask legal questions in plain language and get answers from LexisNexis sources. For larger tasks such as due diligence, the platform breaks the work into smaller steps. Users can then review each one. Lawyers can also draft contracts and memos,…

Absa Group has selected Thunes as a strategic Multicurrency Clearing (MCC) partner. The move expands the Absa and Thunes cross-border payments partnership across African markets. It builds on Absa Global Pay, a solution the two firms recently launched in South Africa. Under the wider deal, Thunes will support Absa’s cross-border payments strategy across Africa and global markets. Multicurrency clearing is a core part of that strategy, according to Absa, which aims to give clients faster and more transparent cross-border payments with more choice. The collaboration links Absa’s banking footprint across Africa directly to Thunes’ Direct Global Network, which spans more…

Eligible firms in the Ras Al Khaimah Economic Zone (RAKEZ) can now open a Rakbank Business Current Account within 60 minutes. The offer is open to new and existing firms with a RAKEZ trade licence. These firms can either start banking with Rakbank or move their accounts to the bank. For the first 12 months, they do not need to keep a minimum balance. They will also pay a lower monthly account fee of AED 49 during this time. Firms can earn AED 1,000 in cashback as well. To qualify, they must keep an average monthly balance of AED 25,000…

ADI Foundation has announced that Securitize is integrating with ADI Chain, the blockchain network the foundation developed. The integration links Securitize’s tokenisation technology with ADI Chain. The network is designed to move digital assets, payments and real-world value across global markets. As a result, ADI Chain will join the group of blockchains that Securitize supports. Eligible tokenised financial products issued through Securitize will then have a pathway to use ADI Chain. However, these products must still meet regulatory, product and jurisdiction requirements. Securitize provides regulated systems to issue, manage, distribute and trade tokenised securities. For ADI Chain, the deal adds…

Microsoft, the UAE Cyber Security Council (CSC) and Core42, a G42 company, plan to deploy MDASH across UAE government entities. MDASH is Microsoft’s AI-powered cybersecurity tool, and the company is also making it available to eligible customers in the UAE. The tool uses AI models and automated analysis to find software vulnerabilities and prioritise risks. According to the three partners, the goal is to strengthen national cyber resilience and help government security teams respond faster to new threats. Each party will play a different role under the proposed collaboration. The CSC will support government adoption and responsible use of AI…

AI adoption among UAE businesses has climbed to 72% from 53% a year ago, according to research from Amazon Web Services (AWS) and the UAE Artificial Intelligence Office. That is a 36% rise, and 85% of adopters say digital change is moving faster. Research firm Strand Partners produced the Unlocking the UAE’s AI Potential 2026 report. Adopters expect the pace of change to keep rising. Microsoft ranks the UAE first and Singapore second for generative AI use among working-age adults in a separate study, according to The National. “With 72% of businesses in the UAE now adopting AI, we are…

Fasset and KOSDAQ-listed NEXUS have signed a memorandum of understanding (MoU) to explore stablecoin-based financial infrastructure. The partnership will look at infrastructure for stablecoins linked to the UAE dirham (AED) and the Korean won (KRW). NEXUS CEO Henry Chang signed the MoU with Fasset FZE at Korea Blockchain Week 2026 in Seoul on 30 September. The companies will review three areas of cooperation, namely payment infrastructure integration, stablecoin settlement and co-branded digital financial products. For payments, they plan a joint proof-of-concept (PoC) that links NEXUS’s payment infrastructure with Fasset’s system for converting fiat currency to and from digital assets. A…

Temasek will deepen its Middle East presence with planned offices in Riyadh and Abu Dhabi. The Singapore-based investment company expects both offices to open in the first half of 2027, subject to relevant statutory approvals. It also plans to engage with institutions in Qatar and other regional markets to pursue partnership and investment opportunities as countries diversify their economies. The offices will serve as hubs for Temasek and its portfolio companies, some of which plan to share the premises. Dilhan Pillay Sandrasegara, Chief Executive Officer of Temasek Holdings, said, “The Middle East is an important part of Temasek’s global network.…

Mashreq has completed a live transaction with Citi on Swift’s blockchain ledger. It used bank-issued tokenised deposits as part of a Swift initiative to explore faster cross-border payments. By linking these deposits with Swift’s messaging network, the collaboration aims to reduce friction in international payments. The bank added that it could also improve speed, liquidity efficiency and how funds move across markets. More than 40 financial institutions helped design the ledger. Swift announced it was ready for use in July 2026, and 17 banks have since been piloting it for tokenised deposit transactions. In its minimum viable product (MVP) phase,…

Commercial Bank of Dubai (CBD) has joined the Commercial Bank Money Token (CBMT) network. The bank says it is the first lender from outside Europe to take part. It hopes to give business clients faster and clearer payments between Europe and the Gulf. Die Deutsche Kreditwirtschaft, the German banking industry body, leads CBMT. Its members include Commerzbank, DZ Bank, Helaba and UniCredit. BNP Paribas, ABN AMRO and DNB joined this year. CBMT is built so banks can settle business payments with tokenised deposits. Unlike stablecoins made outside the banking system, these tokens stay on the bank’s balance sheet. They follow…

Abhi and NymCard have partnered to help UAE financial institutions offer credit to small and medium-sized enterprises (SMEs) more efficiently. Through its embedded finance platform, Abhi delivers earned wage access (EWA) and other financial technology solutions. NymCard, for its part, provides payments infrastructure in the Middle East. Under the Abhi NymCard partnership, the two firms will combine Abhi’s business financial solutions with NymCard’s card and payments infrastructure. Together, they will support the key stages of the SME credit journey. This covers digital onboarding and origination, as well as decisioning and disbursement. As a result, banks and licensed financial institutions can…

National Bank of Fujairah (NBF) has launched a bonus interest offer for new-to-bank customers. The offer covers individual AED Current and Savings Accounts opened on or before 31 December 2026. Customers who transfer their salary can earn up to 6.15% a year. Those without a salary transfer can earn up to 5.75%. Both UAE nationals and expatriates are eligible. To qualify, customers must deposit at least AED 100,000 in fresh funds. They must also keep an average balance of at least AED 100,000 over six months. NBF pays bonus interest on qualifying balances of up to AED 10 million. Once…

Mambu will connect Mastercard to its Intelligent Core. This will give banks in the Middle East using its platform a pre-built way to offer cross-border payments. Mastercard Move is a set of Mastercard tools for sending money around the world. Intelligent Core is Mambu’s cloud-native system for core banking and payments. The companies said the link will make it simpler for banks to add cross-border payments. It should also help them launch these services faster. Banks will be able to offer these payments within their digital banking services. According to both firms, this will make the process smoother for customers.…

Citi has expanded its blockchain-based liquidity product, Citi Token Services, into Japan and the UAE, extending its 24/7 liquidity and payment capabilities across more markets. The service uses tokenised deposits and a private-permissioned blockchain to enable programmable, near-instantaneous movement of liquidity across Citi’s global network. It supports USD transactions in Japan, while the UAE rollout covers both USD and Euro transactions. The expansion brings Citi Token Services to seven markets globally, joining the US, Ireland, Hong Kong, Singapore and the UK. Citi said Japan and the UAE are strategically important markets due to their substantial cross-border flows and roles as…

erad, a Riyadh-based financing platform for SMEs, has raised US$22 million (SAR 78.75 million) in Series A funding led by MEVP. The round follows eightfold year-on-year growth in Saudi Arabia, where the company has provided more than US$133 million (SAR 500 million) in financing to SMEs. New investors include Saudi Venture Capital (SVC), 500 Global, S60 Ventures, ANB Capital, Conjunction Capital and Araya Ventures. Existing backers Khwarizmi, Nuwa Capital, Aljazira Capital, Oraseya and Joa Capital also participated. erad has expanded beyond its original target sectors and now serves businesses in logistics, medical equipment and wholesale distribution. Its Shariah-compliant working capital…

Aljazira Bank has signed an agreement with Thunes to modernise and expand its international remittance services. The Saudi lender will use Thunes’ Direct Global Network to make overseas transfers faster and more reliable for its retail customers. As part of the deal, the bank will add new payout endpoints and destinations to its service. Customers will be able to send money in real time to bank accounts and mobile wallets across Thunes’ network, which covers high-volume corridors in Asia Pacific, Europe and the Gulf Cooperation Council (GCC). The agreement adds to Thunes’ expanding partnerships with established, highly regulated institutions in…

The Dubai International Financial Centre (DIFC) has granted China Securities a licence to set up a regional office in the centre. Headquartered in Beijing, China Securities is a publicly listed securities firm. Its business spans equity and debt capital markets, investment banking, asset management and institutional services. The firm has also secured authorisation from the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from DIFC. According to DIFC, the Dubai office will give the firm a base in the region. It will support the firm’s work with clients, investors and financial institutions across the…