The Central Bank of the UAE (CBUAE) increased its gold reserves by 19.3 per cent in Q1 2025, adding Dhs4.444bn to reach a total of Dhs27.425bn at the end of March, up from Dhs22.981bn at the close of 2024, according to data released in the bank’s latest statistical bulletin.

The move comes amid heightened volatility in global markets and continued diversification of the UAE’s reserve assets.

In addition to the rise in gold holdings, the CBUAE reported robust growth in various categories of banking deposits.

Rise in gold, demand deposits in Q1

Demand deposits grew to over Dhs1.147tn at the end of March, up from Dhs1.109tn in December 2024. This included Dhs856.062 billion held in UAE dirhams and Dhs291.116bn in foreign currencies.

Savings deposits also saw an uptick, reaching Dhs338.788bn at the end of Q1, compared to Dhs317.48bn in December. Of that total, AED268.97bn were in local currency and AED51.817 billion in foreign currencies.

Time deposits continued to surge, climbing toDhs991.757bn, with Dhs614.854bn in dirhams and Dhs376.9bn in foreign currencies, reflecting strong liquidity and confidence in the banking sector.

The UAE Funds Transfer System (UAEFTS) facilitated total transfers worth Dhs5.449tn during the quarter, comprising Dhs3.331tn in interbank transfers and Dhs2.118tn in customer transactions.

The central bank also reported that 5.615 million cheques worth Dhs351.359bn were cleared via image-based processing in Q1.

In March alone, approximately 1.83 million cheques amounting to Dhs116.712 billion were processed.

Cash activity remained healthy, with Dhs63.887bn in withdrawals and Dhs47.124bn in deposits recorded during the first three months of the year.

The latest figures point to a continued strengthening of the UAE’s monetary and financial systems, driven by high liquidity, strong domestic savings, and sustained interbank and customer activity.

The UAE has received strong sovereign credit ratings from Fitch Ratings, S&P Global, and Moody’s Investors Service, reflecting international confidence in its economic strength and fiscal policies.

S&P Global assigned the UAE a sovereign rating of “AA” with a stable outlook on June 17.

Moody’s, in its annual review for 2025, affirmed the rating at “Aa2” with a stable outlook.

Fitch also affirmed the UAE’s rating at “AA-” with a stable outlook on June 24.

This consensus from all three major global credit rating agencies underscores the UAE’s robust fiscal standing, positioning it among a select group of countries globally with strong sovereign credit ratings across the board.

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, stated that the ratings affirm “deep-rooted international confidence in the resilience of our national economy and the efficiency of our fiscal policies.”

He attributed this to a comprehensive economic vision led by UAE President Sheikh Mohamed bin Zayed Al Nahyan and supported by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai.

Sheikh Maktoum reaffirmed the UAE’s commitment to implementing economic policies focused on diversification, transparency, and fiscal discipline, with an emphasis on increasing non-oil revenues and achieving financial sustainability.

He noted that this reflects the integrated performance of government entities and long-term strategic planning, reinforcing the UAE’s position as a flexible and credible global economic hub.

He added that the Ministry of Finance remains committed to collaborating with government entities to enhance resource management efficiency, develop productive sectors, and improve the country’s investment appeal.

The development of the sovereign yield curve for the UAE dirham was highlighted as a significant milestone, enhancing market transparency and providing a reliable benchmark for pricing dirham-denominated debt instruments.

This, he stated, strengthens the UAE’s global economic presence and its ability to navigate regional and international challenges by expanding the investor base and enhancing its reputation as a reliable and attractive destination in global capital markets.

Ratings confirm UAE’s ability to diversify and drive non-oil sectors

The ratings confirm the UAE’s capacity to diversify and boost non-oil revenues, maintain sound fiscal discipline, manage risks effectively, and uphold prudent fiscal policies. These factors have positively contributed to economic stability and sustained growth across various sectors.

S&P’s report specifically cited the UAE’s strong financial position and the strength of the government’s consolidated sovereign assets. The agency anticipates that regional geopolitical tensions will have a limited overall impact on the UAE, citing the country’s substantial sovereign wealth and consistent internal stability.

Moody’s report underscored the UAE government’s ongoing efforts to expand and diversify non-oil revenue sources, support the development of non-oil sectors, and enhance the country’s attractiveness to foreign investors and skilled talent.

Despite persistent regional geopolitical tensions, the report noted that the UAE’s effective policy frameworks help mitigate these challenges through ongoing economic diversification.

Fitch’s report, while acknowledging elevated geopolitical risks in the region, affirmed the UAE’s strong capability to withstand short-term disruptions, supported by its substantial fiscal and external buffers.

This achievement serves as further evidence of the UAE’s continued success in balancing fiscal stability with economic growth, reinforcing international investor confidence and affirming the UAE’s status as a secure and stable destination for business and investment.

Dubai’s Roads and Transport Authority (RTA) has announced adjusted service hours for its various services during the upcoming Hijri New Year holiday (1447H).

The revised schedule covers Customer Happiness Centres, paid parking zones, public buses, Dubai Metro and Tram, marine transport services, and vehicle technical testing centres.

All RTA Customer Happiness Centres will be closed on the day of the Hijri New Year holiday. However, the Smart Customer Happiness Centres located at Umm Ramool, Deira, Al Barsha, and the head office will maintain their usual 24/7 operational status.

Free parking on Friday, June 27

All public parking zones across Dubai will be free of charge on Friday, June 27, in observance of the Hijri New Year holiday.

This exemption excludes multi-level parking terminals. Regular parking fees will be reinstated starting Saturday, June 28.

Service provider centres, which offer vehicle technical testing, will be closed on Friday, June 27. Technical testing services are scheduled to resume on Saturday, June 28.

Dubai Metro timings

The Dubai Metro will operate from 5am to 1am (next day) on Friday, June 27. Similarly, the Dubai Tram will run from 6am to 1am (next day) on the same day.

For detailed schedule updates for public buses (Dubai Bus) during the holiday period, commuters are advised to refer to the S’hail app.

The marine transport schedule for the holiday period can also be viewed via the RTA’s official channels.

Read: Traffic update – Dubai’s RTA completes key road upgrades in Business Bay

Dubai’s Roads and Transport Authority (RTA) has completed three traffic improvement projects in the Business Bay area, aimed at enhancing traffic flow and road safety in the mixed-use district.

The enhancements are part of a broader plan to develop the emirate’s road network infrastructure and improve efficiency to accommodate population growth and urban expansion.

The newly completed works are expected to lead to smoother traffic flow, increased safety, and reduced travel times.

The Business Bay traffic upgrades include…

… a street running parallel to Sheikh Zayed Road was converted from a two-lane, two-way configuration into a one-way dual roadway.

This adjustment is projected to reduce traffic overlap points and increase the street’s capacity by 100 per cent.

Additionally, a 100-metre-long storage lane was introduced at the intersection of Al Mustaqbal Street with Al Khaleej Al Tejari 1 Street.

This measure is designed to boost right-turn capacity towards First Al Khail Street by up to 50 per cent, aiming to reduce congestion and waiting times at the intersection.

Further improvements involved reorganising the service road parallel to Al Mustaqbal Street, near the towers, by adding an extra lane.

This step is anticipated to increase road capacity by approximately 50 per cent and decrease traffic issues.

The RTA also expanded the entry point to the bridge on Al Mustaqbal Street over the canal, in the direction of First Al Khail Street, from one lane to two.

This effectively doubled the entry point’s capacity, aiming to ease traffic pressure during peak hours and improve vehicle flow along the corridor.

Read: Dubai to expand Burj Khalifa/Dubai Mall Metro Station; here’s what it involves

The Gulf Business panel, held on June 25, 2025, head at the Metropolitan Hotel Dubai, brought together an exceptional lineup of industry leaders to delve into some of the most pressing topics shaping the future of finance and investment in the region.

Read-Dubai attracts 8.68 million international visitors in first 5 months of 2025

The event explored a range of key themes, from the growing popularity of residence-by-investment programs — commonly referred to as “golden visas” — to the evolving outlook for UAE initial public offerings (IPOs) in 2025 and beyond. Another critical focus was the impact of the world’s largest generational wealth transfer, and how it is expected to reshape investment strategies not only in the UAE but across global markets.

Each panel session was thoughtfully curated, featuring insights from leading voices in investment, banking, and business setup.

Among the standout speakers were:

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• Damian Hitchen, CEO of Saxo Bank MENA
• Muhammed Hassan, capital markets Leader at PwC
• Yasmine Omari, head of wealth planning at Bank of Singapore
• George Hojeige, group CEO of Virtugroup
• Yogesh Khairajani, global market strategist at Century Financial

Their collective expertise offered attendees a comprehensive understanding of emerging financial trends and actionable strategies for navigating the evolving economic landscape.

As global and regional dynamics continue to shift, the Gulf Business panel reaffirmed the UAE’s position as a strategic hub for investment innovation and long-term growth planning.

Agenda

Panel Discussion 1: From the UAE to the world: global mobility & residence by investment

Topic: How geopolitical shifts are reshaping citizenship and relocation strategies

Moderator: Claire Vuylsteke, Director, Orbcom

Speakers

• George Hojeige, Group CEO, Virtugroup
• Rahul Singh, managing director, Thrifty & Dollar Car Rental
• Sanjay Sachdev, group marketing director at Leptos Estates Greece and Cyprus
• Vishwajit Patil, senior executive officer (SEO) for Nuvama Private DIFC

Key discussion points:

• Residence-by-investment options for UAE-based HNWIs
• Global mobility trends in a volatile world
• Strategic planning for personal and capital security

Panel Discussion 2: UAE IPO outlook: 2025 and beyond

Topic: What’s next in the UAE’s capital markets — and how investors can benefit

Moderator: Nigel Sillitoe – CEO of Insight Discovery

Speakers:

• Yogesh Khairajani, Global Market Strategist, Century Financial
• Manasvi Ghelani, Associate Director – Customer Engagement, Middle East Africa, Frost & Sullivan
• Muhammed Hassan, Capital Markets Leader at PwC

Key discussion points:

• The next wave of public listings
• Market readiness vs global exchanges
• The impact of macroeconomic factors like interest rates and tariffs

Panel Discussion-3: How the world’s largest shift in capital is reshaping investment strategies in the UAE and beyond

Moderator: Karishma Hingorani, Founder & Podcaster, Karishma Konnect

Speakers:

• Damian Hitchen, CEO of Saxo Bank MENA
• Yasmine Omari, head of wealth planning, Bank of Singapore
• Gemma Wild, head of global collaboration, MENA GPB, HSBC
• Dave Chaggar, sales director, Capital Club Limited

Key discussion points:

• Trillions in motion: The great wealth transfer and what it means
• Digital natives and changing investment priorities
• Succession planning, private banking, and wealth tech in the UAE

Business exits are often celebrated as the ultimate badge of entrepreneurial success—but the truth behind the glossy headlines tells a more complex story. From clashes in corporate culture to misaligned visions and the hidden pressures of investor relationships, exits are less about escape and more about evolution. At the Gulf Business panel event held on June 25, 2025, industry leaders like Virtugroup’s George Hojeige dismantled the myth of “free money” and underscored the vital importance of choosing the right partners.

Meanwhile, Dubai continues to position itself as a magnet for global wealth and IPO activity, setting the stage for a new era in capital movement, family investment strategy, and entrepreneurial transformation.

Untold truth behind business exits: It’s not as rosy as it looks

Investors are not passive backers—they become deeply involved in the business.

“Nobody gives you money and walks away. They’ll ask what you’re doing with it, what your future looks like. Free money doesn’t exist,” George Hojeige, group CEO, Virtugroup said at a keynote session at the Gulf Business panel event.

A mismatch in vision or values, he warned, can derail even the strongest companies. “It doesn’t matter how much capital they bring—if they don’t share your vision, you’re doomed from day one,” Hojeige added.

He pointed to Microsoft’s 2014 acquisition of Nokia as a cautionary tale. “It looked like a perfect match—two giants coming together. But the cultures clashed. Microsoft was fast-moving and innovation-driven. Nokia was traditional and process-focused. The result? Massive layoffs and a failed merger.”

The message to fellow founders is clear: an exit is not just a transaction—it’s a transformation.

“Pick the right partner. It’s not just about money. It’s about shared goals, culture, and a vision for the future. If you get that wrong, no amount of funding can fix it.”

UAE stays ahead in global race for investment, and quality of life

Globally, jurisdictions are now competing to offer the most attractive conditions for businesses, entrepreneurs, and individuals looking to relocate. The UAE, especially since the introduction of the Golden Visa, has positioned itself as a strong hub for business operations and investment.

However, it’s important to note that other jurisdictions are also enhancing their offerings to increase their appeal. As a result, the UAE must continue to attract both locals and internationals by remaining competitive and forward-thinking.

Dubai’s ecosystem a magnet for global family offices

With Dubai emerging as a premier destination for global wealth and family office services, Vishwajit Patil, senior executive officer (SEO) of Nuvama Private DIFC, believes the city’s strategic location, efficient systems, and favorable regulatory environment are key drivers in attracting high-net-worth families from across the globe.

Speaking at an early morning panel discussion, Patil highlighted the recent expansion of Nuvama Private into the UAE. “We launched our operations in Dubai around August 2024, and it’s been an incredibly exciting journey,” he said. “Our management strategy reflects the growing importance of the region in serving global clients, especially in navigating financial strategies and tax-related challenges.”

When evaluating relocation destinations, clients typically consider five key pillars:

• Geopolitical stability
• Healthcare and education infrastructure
• Cost of living and lifestyle
• Strategic location and connectivity
• Ease of business setup and residency options

“In all these aspects, Dubai stands out,” Patil stated. “Whether it’s the efficiency of the Golden Visa process, access to top-tier healthcare and education, or the agility of government systems — the UAE offers an unmatched level of service and speed.”

UAE IPO outlook: 2025 and beyond

An Initial Public Offering (IPO) occurs when a private company offers its shares to the public for the first time. This process marks a significant milestone for any business and involves multiple stakeholders including company leadership, regulatory authorities, investment bankers, lawyers, and both institutional and retail investors.

A major development in the UAE capital markets is the emergence of IPO-focused investment funds. These funds allow retail investors to gain exposure to a broad portfolio of IPOs, rather than picking individual companies.

“IPO funds have become a powerful tool for investors,” Yogesh Khairajani, global market strategist, Century Financial explained. “They’re particularly useful in cases where IPOs are oversubscribed, which is quite common in the UAE. Through these funds, investors can still gain exposure to promising public listings.”

Among the most notable initiatives is the Abu Dhabi IPO Fund, which has drawn considerable interest from both institutional and retail participants.

“The Abu Dhabi IPO Fund has made it much easier for investors to participate in a wide array of new listings,” said Khairajani. “It reduces the risk of having to choose just one company to invest in. Instead, investors benefit from the fund manager’s expertise in selecting high-potential IPOs, which in turn provides a more diversified and balanced investment strategy.”

Family investment strategies undergoing a structural shift

During a panel discussion titled “How the World’s Largest Shift in Capital is Reshaping Investment Strategies in the UAE and Beyond,” Yasmine Omari, head of wealth planning at Bank of Singapore, highlighted a significant transformation in how families are managing and deploying their capital.

“What I’ve noticed is a real evolution in how families are investing,” Omari said. “We’re not just talking about a generational transition; we’re talking about a transformation in process, strategy, and mindset.”

She pointed to a range of contributing factors, including increasing diversification across asset classes, growing sophistication, and a marked shift toward institutional-style investing. According to Omari, many families are moving beyond the traditional model of simply reinvesting profits from their operating businesses. Instead, they are using those businesses as platforms for broader investment activity.

“Some families have set up internal investment teams or even mini family-owned funds, complete with governance structures and dedicated professionals,” she noted. “In certain cases, they’ve even spun off entirely separate businesses focused on investing or technology.”

As these efforts scale, Omari emphasised the growing importance of structure and governance. The evolution is not only in capital deployment but also in decision-making dynamics.

“Whereas before, you might have had the founder and maybe one or two close relatives making decisions, now you have multiple generations and branches of the family participating,” she explained. “That increases the need for clear communication, governance, and consensus-building.”