Most GCC central banks hold interest rates unchanged

UAE, Qatar central banks hold interest rates, tracking US Fed move

GCC central banks normally change their interest rates in lockstep with the US Fed as Gulf states’ currencies are pegged to the dollar

CBUAE reveals new Dhs500 banknote

UAE central bank issues new Dhs500 polymer ‘eco-friendly’ banknote

The new Dhs500 note highlights the UAE’s cultural and tourism landmarks and ‘models’ of sustainability

Finding the right balance Virtual assets regulation in the UAE

Finding the right balance: Virtual assets regulation in the UAE

The new CBUAE guidance related to the virtual assets sector is aimed at strengthening the supervisory and regulatory frameworks of the country’s central bank and other relevant bodies in line with global best practices

CBUAE - interest rate

UAE Central Bank holds interest rates steady as US Fed hits pause on hikes

The notification from CBUAE comes after the US Federal Reserve announced that it is maintaining its key policy rate unchanged

UAE licence Dubai RTA

Kuwaiti fintech MyFatoorah secures UAE central bank licence

The payments solutions provider is now positioned to offer direct merchant-acquiring services and payment aggregation solutions with reduced reliance on traditional banking channels

banks savings deposits

UAE banks’ savings deposits at Dhs268.6bn for June 2023

The central bank’s statistics showed these savings deposits increased by 5.8 per cent on a monthly basis

CBUAE revokes licence of an exchange firm

CBUAE revokes licence of money exchange firm

The administrative sanctions are the result of findings which revealed serious regulatory misconduct

GCC central banks raise interest rates tracking US Fed move

GCC central banks raise interest rates in lockstep with the US Fed

GCC central banks normally change their interest rates in lockstep with the US Fed as Gulf countries’ currencies are pegged to the dollar

CBUAE revokes licence of an exchange firm

CBUAE raises interest rates after US Fed resumes rate hike

The US Federal Reserve raised its benchmark interest rates by 25 points to the highest level in 22 years

UAE national banks provide $201bn in financing by April

UAE national banks provide $201bn in financing by April

The banks increased their credit balance by Dhs2.1bn or 0.3 per cent in April 2023, up from Dhs735.2bn a month earlier

CBUAE on UAE banks’ assets

Gross assets of UAE banks hit Dhs3.8tn in April

The central bank said banks’ gross credit increased by 0.1 per cent to Dhs1.89tn in April, driven by a 0.4 per cent growth in domestic credit

UAE islamic banks assets

UAE Islamic banks’ Q1 2023 assets up 7.3%

The UAE central bank said Islamic bank’s gross assets increased by 7.31 per cent in Q1 2023, equivalent to Dhs44.3bn

UAE, Qatar central banks maintain key interest rates

UAE, Qatar central banks keep interest rates steady, tracking US Fed move

The move by the Fed to leave its benchmark rate unchanged suggests that higher borrowing costs have made some progress in slowing inflation

UAE banking sector savings deposits

Savings deposits in UAE banking sector hit $71.6bn in March

The central bank said savings deposits in the UAE banking sector jumped 4.7 per cent year-on-year compared to Dhs251.3bn in March 2022

UAE bank investments

UAE bank investments hit a record $149.3bn in March

Month over month, bank investments jumped 1.3 per cent from Dhs541.4bn in February

CBUAE, HKMA partnership

CBUAE issues new AML guidance for financial institutions

The central bank’s guidance highlights the risks of dealing with virtual assets and virtual asset service providers and their business models

CBUAE revokes licence of an exchange firm

UAE bank investments hit record high of Dhs541bn in February

The CBUAE update showed a year-on-year growth of 15.2 per cent over the same period last year

Central bank on gross bank assets

CBUAE says gross banks’ assets reached Dhs3.74tn in February

Latest data from the central bank shows that gross credit surged by 1.2 per cent to Dhs1.89tn in February from 1.87tn a month earlier, driven by a 1.6 per cent increase in domestic credit

UAE Banks Federation signs off on strategic plan and goals photo WAM

UAE Banks Federation approves strategic plan to boost banking sector

The plan will see 5,000 UAE nationals employed in the banking and financial sector by 2026

UAE central bank

UAE banks record Dhs245.5bn in saving deposits by January-end

The central bank said saving deposits in the banking system have increased in recent years, from Dhs152bn in 2018 to Dhs241.8bn in 2021

New Dhs1000 banknote April 2023 photo WAM

UAE’s new Dhs1,000 banknote issued, highlights space ambitions, energy diversification

The new banknote will be available at banks and exchange houses starting from April 10

Central bank projection for GDP growth in 2024 GettyImages-1432592872-e1670484896463

UAE central bank projects GDP growth rising to 4.3% in 2024

In 2023, inflation is projected to decelerate to 3.2 per cent, on the back of softer price increases in all categories

CBUAE's CBDC strategy

CBUAE unveils Central Bank Digital Currency strategy

The first phase of CBUAE’s CBDC strategy is expected to complete over the next 12 to 15 months and comprises three major pillars

CBUAE_ UAE banks total investments in Dec 2022

UAE banks’ total investments hit Dhs528bn in 2022

The investments increased by 3.25 per cent or Dhs16.6bn on a monthly basis

UAE central bank raises base rate _ feb 2023

UAE central Bank raises base rate by 25 basis points

The central banks of Saudi Arabia and Bahrain also increased their interest rates after the US Federal Reserve raised its target interest rate

banks savings deposits

UAE Islamic bank assets rise to Dhs607.8bn: CBUAE

The Central Bank of UAE revealed that the total Islamic bank investments touched Dhs102bn by the end of last October


UAE Central Bank issues new anti-money laundering guidelines

The new guidelines involve the use of digital ID systems by LFIs to address their customer due diligence obligations


Gross bank assets rose to Dhs3.58tn by end of Oct 2022, reveals Central Bank of UAE

The central bank attributed the increase in domestic credit to the increase in credit granted to the public and private sectors

CBUAE issues new AML CFT guidelines

Central Bank of UAE issues new guidelines on anti-money laundering for insurance sector

The guidelines will support licensed financial institutions effectively implement their statutory obligations related to anti-money laundering and combatting the financing of terrorism

Central-Bank passes new AML guidelines for PEP

CBUAE issues anti-money laundering guidelines related to ‘politically exposed persons’

These guidelines follow CBUAE’s recently introduced AML/ CFT guidance for licensed financial institutions on risks related to payments