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Dubai regulator steps up support for financial firms

The relief package introduces temporary, risk-based flexibility across several areas

Rajiv Pillai
Rajiv Pillai

09 April, 2026

Dubai regulator steps up support for financial firms
DIFC building

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Article Summary
The DFSA is providing temporary regulatory relief to firms in the DIFC to maintain business continuity during current challenges. This package offers flexibility in authorisation, governance, and reporting, without compromising standards. The DFSA will monitor the situation and may provide further support, ensuring operational resilience and market integrity. Dubai's Dhs1bn stimulus plan complements these measures.

Dubai Financial Services Authority (DFSA) has introduced a package of temporary regulatory relief measures to support financial firms operating within the Dubai International Financial Centre (DIFC) during the current operating environment.

The measures are designed to help regulated firms maintain business continuity and continue supporting clients and markets, while navigating ongoing operational challenges.

Mark Steward, chief executive of the DFSA, said: “DIFC firms have demonstrated great resilience and financial strength during this exceptional period. The DFSA wishes to provide assistance to firms, on request, as a bridge to the resumption of normal trading and has developed a framework to provide temporary regulatory flexibility across a range of areas for those seeking DFSA authorisation and for existing authorised firms. These measures will ease operational challenges while ensuring our high regulatory standards continue to be met. We will continue to review the situation, as it unfolds, and will provide additional measures to assist firms, if needed, including assistance in returning to normal trading conditions.”

Mark Steward, chief executive of the DFSA

Targeted regulatory flexibility

The relief package introduces temporary, risk-based flexibility across several areas, including authorisation and licensing processes, governance and staffing arrangements, and regulatory reporting requirements.

This includes adjustments to application and supervisory timelines, reflecting evolving workplace dynamics such as remote working, as well as extensions to reporting deadlines to allow firms to prioritise critical operations.

The DFSA has also indicated that implementation timelines for selected regulatory initiatives may be deferred where this does not compromise regulatory outcomes.

The regulator emphasised that core regulatory standards and supervisory expectations remain unchanged, with all relief measures being temporary, proportionate and subject to appropriate oversight.

The framework is intended to support firms in maintaining compliance and operational resilience rather than easing regulatory requirements.

Ongoing monitoring

The DFSA said it will continue to monitor financial and operational conditions closely, maintaining active engagement with firms and taking action where necessary to protect market integrity.

The regulator also reaffirmed its commitment to working with the DIFC financial community, UAE authorities and international partners to ensure the continued strength and global standing of the financial centre.

Earlier this month, Dubai unveiled a Dhs1bn economic incentives package aimed at cushioning businesses and individuals, with measures set to take effect from April 1 for a period of three to six months.

Read: How business leaders are reacting to Dubai’s Dhs1bn stimulus plan

From villas to vaults: US bunker builder eyes GCC growth amid Iran war

US-based Atlas Survival Shelters is expanding into the wider GCC, citing growing demand for private safe rooms across the region

Gareth van Zyl
Gareth van Zyl

09 April, 2026

From villas to vaults: US bunker builder eyes GCC growth amid Iran war
An Atlas Survival Shelters bunker installation under construction. (Image: supplied)

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Article Summary
US-based Atlas Survival Shelters is expanding into the Gulf amid regional tensions, marketing underground bunkers and safe rooms. CEO Ron Hubbard aims to integrate Cold War-era protection into modern properties.

A US company specialising in underground bunkers and safe rooms is expanding into the Gulf, at a time when the region has faced weeks of tension linked to the Iran war.

Texas-based Atlas Survival Shelters, led by CEO and founder Ron Hubbard, positions itself as a global supplier of underground protection systems, with ambitions to bring its Cold War-era engineering principles into modern residential real estate.

The company manufactures a range of shelters designed to protect against threats including blast impact, debris and biological contamination, among others.

Its roots trace back to civil defence design standards developed in the 1950s and 1960s, with Hubbard noting that Atlas received certification from US authorities as early as 1961.

Atlas has now begun marketing its products in the UAE and Saudi Arabia and is exploring broader opportunities across the GCC, including Qatar.

Hopes in the region remain that the current two-week US-Iran ceasefire, and any eventual peace deal, will reduce the threat of further attacks in the GCC. However, since February 28, the UAE alone has already intercepted more than 2,800 missiles and drones launched from Iran.

According to Hubbard, the company’s entry into a market such as the UAE was not reactionary.

“We were coming there anyway for two years,” he told Gulf Business, adding that the goal has been to encourage developers and homeowners to incorporate safe rooms into residential buildings: a concept more established in markets such as the US.

However, the timing has coincided with what he says has been an increase in interest.

“It’s up a lot,” he said of demand, adding that he expects safe rooms could eventually become a standard feature in homes and apartments.

So far, adoption in the region appears limited to high-net-worth individuals.

“I’ve sold five, but all big ones for very wealthy people,” Hubbard said, referring to early transactions in the Gulf.

The company’s product range spans from safe room kits starting at around $5,500 to bunker systems priced from $25,000, and significantly higher for large-scale bespoke projects, marketed as “billionaire bunkers”.

Cold War engineering meets modern design

Atlas positions its shelters as based on long-standing engineering principles rather than new technology.

Hubbard points to historical certification, including a 1961 letter from US civil defence authorities, as validation of the concept.

When asked whether such designs remain relevant against modern threats such as drones or ballistic missiles, he argued that the core principles still apply.

“Those are nothing compared to nuclear fallout,” he said.

Typical bunker specifications include reinforced steel or concrete structures, blast-resistant doors, air filtration systems designed to handle chemical or nuclear contaminants, and, in larger builds, self-sustaining features such as power, water and storage.

Depth varies depending on the installation, with some entry-level systems designed as safe rooms or shallow shelters, while larger projects extend deeper underground and are built for longer-term occupancy.

A photo depicting the construction of an Atlas underground bunker. (Image: supplied)
Several of the underground bunkers come with luxury fitouts, including kitchens.
Several of the underground bunkers come with luxury fitouts, including kitchens. (Image: supplied)

Barriers to market entry?

Ali Shahin, founder of The Real Estate Report, commenting on Atlas’ expansion, said uptake might be strongest among GCC citizens building private villas.

However, he highlighted constraints for the wider market.

“From an expat perspective, if the situation needed permanent bomb shelters, people are going to leave: that’s the first hurdle.”

He added that most expatriates live in freehold communities with strict development regulations, limiting the ability to modify properties.

“Not to mention the space available to you to do something like this. To sum it, yes it can work, but not something for the masses.”

For now, the Gulf market appears to be at an early stage, driven more by precautionary demand among wealthy buyers than widespread adoption.

But Hubbard believes the shift could be structural.

“I’m hoping the standard for building a house or an apartment will change so each has a safe room,” he said.

Dubai drivers alert: Park for free by shopping with local businesses

The initiative effectively transforms everyday parking stops into opportunities to support local retailers while boosting their visibility and footfall

Gulf Business
Gulf Business

09 April, 2026

Dubai drivers alert: Park for free by shopping with local businesses

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Article Summary
Parkin's "Spots for Shops" initiative in Dubai aims to support local businesses by allowing customers to validate parking fees via the Parkin app when shopping at participating stores. This programme transforms parking into an incentive, boosting visibility and footfall for smaller retailers.

Dubai’s streets may soon feel a little more welcoming for small businesses, thanks to a new initiative launched by Parkin, the city’s largest provider of paid public parking facilities and services.

The programme, titled Spots for Shops, introduces a novel concept: allowing drivers to validate their parking fees through the Parkin app simply by shopping at participating neighbourhood businesses. The initiative effectively transforms everyday parking stops into opportunities to support local retailers while boosting their visibility and footfall.

Read more-Parking fees in Dubai could rise: What drivers need to know

In a city where nearly 90 per cent of residents rely on private vehicles, one of the highest rates of car dependency globally, parking plays a pivotal role in shaping consumer behaviour. It determines not just where people go, but also where they stop, spend, and engage.

Closing the gap between malls and main streets

Large retail destinations in Dubai have long benefited from free and abundant parking, making them convenient and attractive for shoppers. Smaller neighbourhood businesses, however, often depend on paid public parking spaces located just outside their premises, where even a brief visit can come with an added cost.

Spots for Shops aims to level that playing field.

By allowing customers to offset parking fees through qualifying purchases, the initiative brings a mall-like convenience to street-level retail. Parking, once seen as an unavoidable expense, becomes an incentive to explore local shops and services.

From grabbing a morning coffee to getting a quick haircut or enjoying a casual meal, the programme reframes routine errands as meaningful contributions to Dubai’s vibrant small business ecosystem.

How the initiative works

The process is designed to be seamless for both residents and visitors:

  • Park in any paid Parkin space near a participating business
  • Pay the applicable parking fee for the designated zone
  • Make a qualifying purchase based on the merchant’s minimum spend
  • Have the merchant validate the parking via the Parkin app using the customer’s mobile number
  • Receive instant cash back credited to the Parkin wallet

The result is a straightforward system that integrates parking with everyday spending, offering both convenience and tangible value.

Industry leaders weigh in

Osama AlSafi, COO at Parkin, emphasised the broader economic impact of the initiative.

“Small businesses play a vital role in Dubai’s economic landscape, and ‘Spots for Shops’ reflects how Parkin is reimagining parking as an enabler of urban mobility and local commerce,” he said. “By seamlessly connecting parking with everyday retail experiences, we are making it easier for customers to access neighbourhood destinations while supporting local businesses and strengthening the wider ecosystem that drives the city’s growth.”

The initiative will initially roll out with 15 participating companies as part of a pilot phase, with parking redemption set to go live on the Parkin app in early May 2026.

Participating businesses will offer cashback incentives directly to customers via the Parkin wallet, creating a digital-driven platform that encourages increased footfall while enhancing customer convenience.

Federico Fanti, regional chief creative officer at FP7 McCann MENAT, highlighted the creative thinking behind the concept.

“Dubai is a car-first city, so the parking spot became our canvas,” he said. “It’s usually the most invisible moment in the day, you stop, pay, leave. With Spots for Shops, we turned that routine moment into a direct connection between people and the businesses around them. We didn’t ask for new behaviour; we made existing behaviour more meaningful.”

Beyond transactions: A visual transformation

Beyond its economic benefits, the initiative also seeks to reshape the visual landscape of Dubai’s streets.

Designated parking spaces will feature bespoke artwork and messaging, effectively transforming them into street-level billboards that guide drivers toward nearby participating businesses. These creative elements aim to make local discoveries more engaging and accessible, encouraging exploration beyond well-known retail hubs.

As Dubai continues to evolve as a global city, initiatives like Spots for Shops highlight the growing emphasis on supporting local entrepreneurship while enhancing urban convenience.

Businesses interested in joining the programme can visit Parkin’s website at www.parkin.ae/spots-for-shops. Residents and visitors are also encouraged to follow Parkin’s social channels and download the Parkin app to stay updated on the initiative and discover the small business stories shaping Dubai’s neighbourhoods.

Middle East crisis to slow regional growth in 2026, says World Bank

Growth in the GCC is now projected to fall to 1.3 per cent in 2026 from 4.4 per cent in 2025, a downward revision of 3.1 percentage points

Neesha Salian
Neesha Salian

09 April, 2026

Middle East crisis to slow regional growth in 2026, says World Bank
Image: Adobe Express/ AI generated/ For illustrative purposes

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The ongoing geopolitical crisis in the Middle East is weighing heavily on economies across the wider region, with the recent closure of the Strait of Hormuz and damage to energy and public infrastructure disrupting markets and increasing financial volatility, the World Bank said on Wednesday in its economic update for the Middle East, North Africa, Afghanistan and Pakistan.

The bank said the shock has weakened the region’s 2026 outlook, hitting countries already struggling with low productivity, limited private sector growth and persistent labour market issues.

It called for stronger governance, more resilient macroeconomic foundations and policies that support long term job creation.

Excluding Iran, regional growth is expected to slow sharply to 1.8 per cent in 2026 from 4.0 per cent in 2025, a forecast that is 2.4 percentage points below the bank’s January projection.

The downgrade is concentrated in Gulf Cooperation Council economies and Iraq, which are most directly affected by the conflict.

Growth in the GCC is now projected to fall to 1.3 per cent in 2026 from 4.4 per cent in 2025, a downward revision of 3.1 percentage points.

Read: Gold climbs to near three-week high after US, Iran agree to ceasefire

Prolonged crisis could further raise energy, food prices: World Bank

The bank warned that risks remain tilted to the downside. A prolonged crisis could further raise energy and food prices, reduce trade, tourism and remittance flows, increase fiscal pressures and drive more displacement.

“The current crisis is a stark reminder of the work ahead for the region, not only to weather shocks, but to rebuild more resilient economies with stronger macroeconomic fundamentals, innovate and improve governance, invest in infrastructure, and boost employment creating sectors,” said Ousmane Dione, World Bank VP for the region.

He said peace and stability remain essential for durable development.

The report also examines how industrial policy is being deployed across the region. Governments have adopted such policies at a rapid pace in the past decade, often through sovereign wealth funds and state owned enterprises.

The bank said results have been mixed and stressed the need for strong institutions and careful targeting.

“As countries face the heavy toll of the present conflict, it is important to also not lose sight of the work needed for long lasting peace and prosperity,” said Roberta Gatti, the bank’s chief economist for the region, said in a statement.

Read: UAE retains Aa2 rating as Moody’s maintains stable view

Sharjah libraries go 24/7 with smart locker book pickup

The move reflects a broader transformation at SPL towards a more user-centric model, combining physical and digital services to improve accessibility and convenience

Rajiv Pillai
Rajiv Pillai

09 April, 2026

Sharjah libraries go 24/7 with smart locker book pickup
Image: Pixabay

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Sharjah Public Libraries is advancing its shift towards flexible, technology-driven service delivery with the rollout of its Smart Locker system, enabling users to collect reserved books at any time.

The initiative allows members to request books through the online catalogue and retrieve them from smart lockers located at library premises using either their Emirates ID or membership card, removing reliance on traditional opening hours and physical access constraints.

The move reflects a broader transformation at SPL towards a more user-centric model, combining physical and digital services to improve accessibility and convenience.

Expanding collections and digital reach

SPL has evolved significantly since its establishment in 1925, growing from a single library into a network of six branches across the emirate. The system now manages more than 791,000 physical resources and provides access to over 15 million digital items.

Its cataloguing system is based on international standards, including Anglo-American cataloguing rules and the Dewey Decimal Classification system, ensuring consistency and global interoperability.

The organisation accelerated its digital transformation following the opening of its central library in 2011, which enabled automated cataloguing and bilingual lending systems. By 2019, SPL had expanded into e-books and audiobooks, and by 2020 it had scaled access to millions of multilingual resources, contributing to a 70 per cent increase in membership.

SPL’s evolution mirrors global shifts in library systems. Early cataloguing methods date back to the late 18th century, progressing through card-based systems widely adopted in the 19th and 20th centuries, before transitioning to digital standards such as MARC, introduced in 1968 to enable machine-readable records.

Today, libraries globally are moving beyond traditional frameworks towards linked data models that enhance discovery and integrate knowledge across digital ecosystems.

Focus on AI and future-ready services

SPL continues to invest in innovation, including the launch of the Smart Knowledge Library in 2021, a virtual learning platform enhanced in 2025 with structured learning pathways, assessments and instant certifications.

The organisation has also highlighted its future focus on advanced technologies, announcing “Artificial Intelligence in Libraries: Innovation and Impact” as the theme for the 26th edition of the Sharjah Libraries’ Literature Award.

The Smart Locker service underscores SPL’s broader strategy to modernise library access, blending physical infrastructure with digital capabilities to meet evolving user expectations and support knowledge discovery at scale.

Concierge service: Dubai unveils home delivery for gold and jewellery purchases

The initiative, introduced in collaboration with select retailers, is designed to bring the trusted in-store experience directly to customers, combining convenience with the high standards

Gulf Business
Gulf Business

09 April, 2026

Concierge service: Dubai unveils home delivery for gold and jewellery purchases

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Article Summary
Dubai Gold District has launched a concierge home delivery service for gold and jewellery, addressing rising demand for convenient, private purchasing. Select retailers offer consultations and secure doorstep delivery, blending Dubai's trusted gold market experience with modern flexibility. This initiative complements in-store shopping and reflects evolving consumer needs, ensuring transparency and service remain paramount.

As demand for gold continues to rise across the UAE, Dubai Gold District has unveiled a new concierge-style home delivery service, allowing customers to purchase gold and jewellery through private consultations without leaving their homes.

The initiative, introduced in collaboration with select retailers, is designed to bring the trusted in-store experience directly to customers, combining convenience with the high standards that have long defined Dubai’s gold market.

Read more-Gold prices skyrocket: Time to buy or wait?

Dubai Gold District, often referred to as the “Home of Gold,” brings together some of the world’s most recognised gold and jewellery retailers under one destination. The new service reflects a shift in consumer behaviour, as more buyers seek flexibility, privacy and ease when making high-value purchases.

How the service works

The service has launched with participating retailers Malabar Gold & Diamonds, Kanz and Kalyan Jewellers, with more expected to join in the coming months.

Customers can contact retailers directly to arrange private consultations, during which they can explore options ranging from gold bullion and coins to fine jewellery. Once a selection is made, purchases are securely delivered to the customer’s doorstep, ensuring a discreet and tailored experience.

The move comes at a time when gold continues to attract attention as a reliable store of value, particularly amid global economic uncertainty.

Blending tradition with modern convenience

Dubai has long held a reputation as one of the world’s most trusted destinations for buying gold, supported by transparent pricing, competitive rates and a rich trading heritage.

“With this delivery service, we are extending the trusted Dubai Gold District experience beyond the store,” said Muath AlRais, Senior Operations Manager at Dubai Gold District. “Customers can now purchase gold from the comfort and privacy of their homes, while maintaining the transparency and service that define gold shopping in Dubai.”

Industry players say the initiative reflects a broader effort to modernise the gold-buying journey without compromising on trust.

Retailers respond to changing consumer needs

Retailers participating in the programme say customer expectations are evolving, particularly among those purchasing investment-grade gold or high-value jewellery.

Malabar Gold & Diamonds noted growing demand for more personalised and private shopping experiences.

“We are seeing increasing interest from customers who want greater convenience and privacy, particularly when selecting investment pieces or high-value jewellery,” the retailer said. “Personal consultations and secure home delivery allow us to guide customers through their selection while bringing the same trusted in-store experience directly to their homes.”

Kalyan Jewellers echoed similar sentiments, highlighting the importance of trust and transparency in the buying process.

“Our customers value the transparency and competitiveness of Dubai’s gold market,” the company said. “By offering personalised consultations and secure delivery, we are making it easier for customers to purchase gold while still benefiting from the expertise and guidance they expect.”

Retail experience continues unchanged

Despite the introduction of home delivery, Dubai Gold District and the Dubai Gold Souk will continue to operate during normal business hours, with retailers welcoming customers in-store.

The new service is intended to complement, rather than replace, the traditional shopping experience, giving customers more flexibility in how they choose to engage with the market.

As global gold prices continue to draw interest, the initiative positions Dubai Gold District to meet rising demand while reinforcing its reputation as a leading hub for gold trading.

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