These guidelines follow CBUAE’s recently introduced AML/ CFT guidance for licensed financial institutions on risks related to payments
CBUAE stated that gross credit grew by 2.6 per cent, rising from Dhs1.817tn at the end of April to Dhs1.865tn at the end of May
The new guidelines state that licensed financial institutions should have compliance programmes in place to mitigate payment-related risks
The total number of insurance policies issued increased year-on-year by 10.4 per cent in Q1 2022 to 2.3 million
The platform, which allows real-time payments and fund transfers round the clock, will support SMEs, larger companies and financial institutions
A total of Dhs44.38bn has been withdrawn until end June