There are few things more unsettling than discovering that your credit card has been used without your knowledge, particularly when you are travelling overseas.

That is exactly what happened to me recently.

I was outside the UAE when I noticed a series of transaction alerts on my phone late at night. To my surprise, there were around five transactions on my credit card that I had neither made nor authorised.

My immediate concern was not just the money already charged to the card, but whether more transactions would follow.

Fortunately, the first step towards protecting my account was relatively straightforward. And it is something most UAE credit card holders can do within seconds.

First step: Block the credit card immediately

The moment I realised something was wrong, I opened my bank’s mobile application and blocked the credit card.

There was no need to wait until the next morning or visit a branch. The option was available directly through the banking app.

Most major UAE banks offer customers the ability to temporarily freeze or permanently block their cards through mobile banking.

This is arguably the most important immediate action when suspicious transactions appear. Blocking the card helps prevent further unauthorised spending, although it may not reverse transactions that have already been processed.

For anyone travelling abroad, knowing where the card-blocking feature is located within their banking application can make a significant difference during an emergency.

Customers should also contact their bank’s official fraud reporting channel and arrange for a replacement card where necessary.

Second step: Raise a dispute for the fraudulent transactions

Blocking the card, however, is only the beginning.

The next step is to formally dispute the transactions that have already taken place.

In my case, there were approximately five transactions that needed to be flagged as unauthorised.

Depending on the bank, customers can initiate a dispute through the mobile application, online banking, email or customer service.

The process typically involves identifying the disputed transactions and confirming that they were not authorised by the cardholder.

It is important to retain the transaction notifications, amounts, dates and any correspondence with the bank. These details can prove useful during the investigation.

Once the dispute has been submitted, the bank reviews the complaint to determine whether it qualifies for further investigation and any applicable temporary credit.

Third step: Understanding provisional credit

One aspect of the dispute process that customers should understand is the concept of provisional credit.

After reviewing a disputed transaction, a bank may determine that the customer is eligible for a provisional credit equivalent to the disputed amount.

In simple terms, this means the bank temporarily credits the amount while the investigation continues.

However, provisional credit should not be confused with a final refund or confirmation that the dispute has been resolved in the customer’s favour.

The investigation may involve the bank, the merchant and the relevant card payment network, depending on the circumstances.

There are generally two possible outcomes.

If the dispute is resolved in the customer’s favour, the provisional credit becomes permanent, meaning the customer does not have to repay the disputed amount.

However, if the investigation determines that the transaction was valid or that the dispute is unsuccessful, the provisional credit may be reversed, and the amount will once again be charged to the customer’s account.

The availability and timing of provisional credit depend on the bank’s policies and the nature of the dispute.

For customers, this distinction is particularly important when reviewing credit card statements or planning repayments while an investigation remains ongoing.

Fourth step: Set transaction limits to minimise potential losses

The experience also highlighted another precaution that credit card holders should consider, even before fraud occurs.

Many banking applications allow customers to manage transaction limits, including daily ATM withdrawal limits and, in some cases, card purchase or online transaction limits.

Setting lower limits can help reduce exposure to unusually large transactions.

For example, customers who do not regularly make high-value purchases could consider reducing their permitted daily spending limit, where their bank provides this option.

This creates an additional layer of protection should card details become compromised.

However, it is important to distinguish between ATM withdrawal limits and card purchase limits. Reducing an ATM withdrawal limit alone will not necessarily prevent fraudulent online purchases.

Customers should therefore review the specific controls offered by their bank, including international transaction settings, online spending limits and instant transaction notifications.

What UAE banking regulations say

The UAE has established consumer protection requirements governing how financial institutions respond to unauthorised transactions.

Under the Central Bank of the UAE’s Consumer Protection Standards, licensed financial institutions must provide customers with digital and telephone channels available around the clock to report fraud, card theft or misuse.

Banks must also take appropriate measures to protect customers from further unauthorised transactions.

The standards provide for reimbursement of unauthorised payments following an investigation or within 30 calendar days of the incident being reported or identified, whichever is shorter, subject to exceptions involving fraud or gross negligence by the customer.

Customers dissatisfied with their bank’s handling of a complaint can also consider escalating the matter through Sanadak, the UAE’s independent financial and insurance ombudsman, subject to its eligibility and complaint procedures.

The biggest lesson: Speed matters

Looking back, what stood out most was how quickly the situation developed.

One moment, I was travelling abroad without any concerns about my credit card. The next, I was dealing with multiple transactions that I had not authorised.

The ability to block the card immediately through a mobile application offered an important first line of defence.

But the experience also reinforced the importance of understanding what happens after a fraudulent transaction is reported.

Blocking a card does not automatically mean the disputed money will be returned. A dispute must be raised, the bank must assess the claim, and the final outcome will depend on the investigation.

It is equally important to understand that any provisional credit may be temporary.

For UAE residents who frequently travel internationally, the practical takeaway is simple: familiarise yourself with your bank’s fraud reporting procedures, activate transaction notifications and review your card’s spending controls before leaving the country.

Credit card fraud can happen unexpectedly. Being prepared and acting quickly can help limit the financial damage and make the recovery process considerably easier.

Swiss wealth management group Julius Baer has appointed Jean Pierre Dib and Philipp Kleinschnittger as co-heads of its Middle East and Africa business, effective October 12.

Dib will be based in Dubai, while Kleinschnittger will operate from Zurich. Both will report to Rahul Malhotra, head of Region Emerging Markets.

The appointments form part of the bank’s efforts to strengthen its presence across the Middle East and Africa, a region it considers a strategic growth market amid increasing wealth creation, particularly in the GCC.

The new co-heads will oversee Julius Baer’s client offering and strategic priorities across its onshore operations in Dubai, Abu Dhabi, Manama and Johannesburg, alongside offshore coverage from Zurich, Geneva and London.

Régis Burger takes on new role

As part of the restructuring, Régis Burger, previously head of Middle East and Africa, has been appointed chief operating officer for Region Emerging Markets, a newly created position.

Burger will continue as CEO and senior executive officer of Julius Baer (Middle East) Ltd, retaining regulatory oversight of the entity regulated by the Dubai Financial Services Authority (DFSA).

Dib brings more than 20 years of private banking experience, most recently serving as senior client partner at Julius Baer in Dubai. He has spent more than a decade with the bank’s Middle East business, advising ultra-high-net-worth individuals, entrepreneurs and family offices.

Kleinschnittger also has more than two decades of international banking experience. Since joining Julius Baer in 2016, he has held several senior positions, including head of Middle East and Africa Switzerland, UK and South Africa, and chairman of Julius Baer South Africa.

Rahul Malhotra said the appointments would support the bank’s regional expansion ambitions.

“The Middle East continues to see significant wealth creation, particularly across the GCC,” he said, describing the region as a strategically important growth market for Julius Baer.

Expanding regional presence

Julius Baer established its presence in the Dubai International Financial Centre (DIFC) in 2004, becoming the first wealth management firm licensed there, according to the bank.

It has since expanded its regional operations, opening its Abu Dhabi entity in December 2025, maintaining an office in Johannesburg since 2018 and marking 50 years of operations in Bahrain in 2026.

The Swiss banking group, which operates in around 25 countries, reported CHF547bn in assets under management at the end of June 2026.

Dubai’s retail landscape is evolving as shopping destinations place greater emphasis on dining, entertainment and immersive brand experiences. Ibn Battuta Mall is expanding its tenant mix with 38 new and upcoming businesses, while Palm Jumeirah Mall is preparing to welcome beauty enthusiasts for the fifth edition of its Beauty Unbound event.

The developments reflect two approaches to attracting shoppers: expanding the range of businesses available to visitors and creating interactive experiences that encourage them to spend more time at retail destinations.

Ibn Battuta Mall lines up 38 new openings

Ibn Battuta Mall, operated by Dubai Retail, has welcomed 21 new businesses, with another 17 expected to open by the end of 2027. The additions span food and beverage, fashion, entertainment, lifestyle retail and essential services.

Since opening in 2005, the mall has established itself as a prominent retail destination, attracting approximately 1.5 million visits a month. Its six architecturally themed courts draw inspiration from the travels of the 14th-century explorer Ibn Battuta, after whom the destination is named.

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The latest expansion adds to a tenant mix of more than 350 businesses, as the mall responds to the needs of shoppers and the growing residential communities around it.

Dining is among the key areas of development. Existing outlets include Five Guys, Jimmy John’s Sandwiches, Marugame Udon and Caribou Coffee, alongside Halla Shawarma, Zaika and Butter & Bread. Peet’s Coffee, Ocean Basket, Asia Kitchen and Smoothie Factory are among the brands expected to join the line-up in the coming months.

Cinema and family entertainment broaden the offer

Entertainment is another focus, with Roxy Cinemas set to bring its cinema offering to Ibn Battuta Mall. The addition is expected to strengthen the destination’s leisure proposition and give visitors another reason to stay beyond their shopping trips.

Hopa Loompa Entertainment is also scheduled to join the mall, building on the family-focused offering established by recent arrivals Zamania by Leo & Loona and Like Bricks. Toy Station is preparing to open as well.

Fashion and lifestyle retailers are contributing to the changing tenant mix. Recent arrivals include Jack & Jones, Anta, Tanishq, Magrabi, Mumuso and Suit Sartoria. OWNDAYS and Puzzle Supplements are among the upcoming additions, while Chemist Warehouse, Midi, My Shops and Cantata will expand the range of retail categories available.

The development also extends to everyday services. ADCB, Amit Care, Doctor M, Melodica and Desco Copy & Print Centre feature among the new and upcoming businesses, covering banking, healthcare, education and printing services.

Together, the additions reflect the mall’s effort to combine shopping and leisure with services that cater to the daily needs of nearby residents.

Palm Jumeirah Mall brings beauty brands into the spotlight

At Palm Jumeirah Mall, the focus shifts from long-term tenant expansion to experiential retail. The destination will host Beauty Unbound from October 14 to November 1 2026, turning the mall into a travel-themed beauty experience featuring interactive activations, product showcases and expert-led sessions.

The free event brings together brands across makeup, haircare, fragrance and lifestyle, including Dyson, Jo Malone London, KIKO Milano, Puff and Tower 28. Visitors will be able to explore product demonstrations, discover new launches and take part in activities designed to encourage direct engagement with participating brands.

The programme includes two scheduled masterclasses. On October 16, makeup artist Karolina Ewa Kurowicka will lead KIKO Milano’s Signature Look: Day to Night session from 6:00pm to 7:00pm. The interactive workshop will demonstrate how to adapt daytime makeup for evening occasions, with techniques involving eyeliner, blush and other finishing touches. Visitors can also enjoy complimentary makeup touch-ups and participate in activities offering opportunities to win KIKO products.

A second session will take place on October 24, when stylist Natalie Kasses leads a Dyson haircare masterclass from 5.30pm to 6.30pm. The session will feature the Dyson Supersonic Travel and focus on styling techniques and maintaining healthy hair while travelling.

Interactive showcases put products centre stage

Participating brands will use the event to highlight selected products through demonstrations and hands-on discovery.

Dyson will showcase the Dyson Supersonic Travel and Dyson Airsmooth through styling demonstrations and product trials. Jo Malone London will feature its Sea Salt & Bergamot fragrance, pairing scent discovery with an experience centred on fragrance layering and personalisation.

KIKO Milano will spotlight products including the 3D Hydra Lip Gloss, Unlimited Blush, Full Coverage 2-in-1 Foundation & Concealer and Maxi Mod Mascara. Meanwhile, drinkware brand Puff will present its collections for adults and children, including the BOTTLL range, designed for everyday use and travel.

Tower 28 will feature its SOS Daily Rescue Facial Spray through product trials and interactive activities inspired by the brand’s California aesthetic.

Now in its fifth edition, Beauty Unbound has become a recurring feature of Palm Jumeirah Mall’s annual calendar, bringing beauty brands and customers together through product-led experiences.

Visitors can attend during the mall’s operating hours, from 10am to 10pm Sunday to Thursday and 10am to midnight on Fridays and Saturdays.

The two developments illustrate how Dubai’s malls are broadening their appeal through different strategies. Ibn Battuta Mall is investing in a wider mix of businesses and services, while Palm Jumeirah Mall is using a dedicated event to connect shoppers with beauty and lifestyle brands. Both approaches place experiences alongside conventional shopping as retail destinations compete for consumer attention.

The UAE’s new three-year federal budget represents a 28.3 per cent increase over the previous period, with social development and government affairs accounting for the largest allocations in 2027.

The UAE Cabinet, chaired by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, has approved the federal general budget for 2027–2029, with total expenditures of Dhs292.5bn.

The allocation represents an increase of 28.3 per cent compared with the preceding three-year period, reflecting the government’s continued focus on social development, infrastructure and long-term economic growth.

The Cabinet also approved the federal budget for the 2027 fiscal year, with estimated total expenditures of Dhs90.1bn.

Sheikh Mohammed said: “Today, we approved the Federal General Budget for 2027 to 2029 with total expenditures of Dhs292.5bn, up 28.3 per cent on the previous three years, and the 2027 budget with expenditures of Dhs90.1bn. Our priorities are fixed and have not changed: education, health, housing, social services, and the quality of life and stability of our citizens. Under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, we will keep consolidating our gains, protecting our achievements and working to build the best life.”

UAE federal budget 2027: Where will the money go?

Social Development and Pensions will receive the largest share of the 2027 federal budget, with Dhs34.6bn allocated to the sector, representing 38.4 per cent of total expenditure.
Government Affairs follows with Dhs29.1bn, accounting for 32.3 per cent of the budget.

The full breakdown of the 2027 federal budget is as follows:

Education, healthcare and infrastructure remain priorities

The three-year budget covers a range of government priorities, including education, healthcare, housing, social services, employment and economic development.

Other areas include community protection and safety, technology, energy, infrastructure, culture, media, sports, government affairs and international relations.

The government said the budget is designed to ensure sustainable funding for priority programmes and strategic projects while improving the efficiency of public resource management.

The 2027–2029 spending plan also supports the development of the UAE’s government financial planning framework, providing greater continuity for long-term projects and programmes.

According to the Cabinet, the budget seeks to balance current development requirements with investment in future opportunities, while maintaining flexibility and financial sustainability.
The approval reinforces the UAE’s commitment to directing federal expenditure towards national development priorities, supporting economic diversification and improving quality of life for citizens.

Oil prices slipped on Monday on expectations of more Russian supplies after US President Donald Trump said Ukraine and Russia had agreed to halt attacks on each other’s energy facilities following a US diesel-supply deal with Moscow.

Brent crude futures fell 22 cents, or 0.2 per cent, to $104.50 a barrel by 0821 GMT while US West Texas Intermediate crude was at $91.45 a barrel, down 40 cents, or 0.4 per cent. Both benchmarks were down more than 1 per cent earlier in the session.

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ICE gasoil futures fell 4.6 per cent to $1,415 per metric ton after President Trump said on Friday that Russia will immediately supply more than 300,000 metric tonnes (2.25 million barrels) of diesel to US and global markets, with more to come later.

“The immediate impact of the deal is questionable, as Russia’s refining capacity has been severely reduced,” PVM analyst Tamas Varga said.

“However, Moscow has partially lifted its ban on diesel exports, allowing 500,000 tonnes (around 3.7 million barrels) to be released onto the international market, equivalent to roughly one day of US consumption and around 13 per cent of global demand.”

Trump also unexpectedly announced on Sunday that Ukraine and Russia had agreed to an energy ceasefire, but Ukrainian leader Volodymyr Zelenskiy said he was still waiting to see details while Russia did not comment.

The International Energy Agency’s Fatih Birol said all members should assess whether additional diesel releases are necessary and that countries which have not yet fully delivered pledged volumes should accelerate their remaining releases prioritising diesel.