Foreign banks that violate the law face a stiff penalty of not more than Dhs500,000
The central bank said cash deposits during the first ten months of 2023 soared by 8.12 per cent or Dhs51.6bn
The apex lender projected that the country’s overall GDP will grow by 3.1 per cent in 2023
The Central Bank of the UAE has said it would keep interest rates unchanged following a similar announcement by the US Federal Reserve overnight.
The emirate repaid Dhs20bn as part of its total financing from Abu Dhabi and the Central Bank of the UAE
On an annual basis, the central bank’s public budget surged by 32.15 per cent, equivalent to Dhs158bn
The administrative sanctions are the result of findings which revealed serious regulatory misconduct
It is replaced it with a temporary committee of experts for six months
The Emirati dirham was issued as the UAE’s official currency replacing a mix of international currencies which had been in circulation in the emirates
The first stage of the programme will see the launch of the Card Domestic Scheme, an instant payments platform, and the issuance of Central Bank Digital Currency
The cumulative balance of credit provided by national banks to trade and industry sectors reached Dhs720.8bn at the end of August
The US Federal Reserve raised its benchmark interest rate by three-quarters of a percentage point to a range of 3 to 3.25 per cent on Wednesday
The cumulative FDI balance received by the UAE also increased by 141.6 percent from 2011 to 2021
The new banknotes are the third issue of the national currency
Total bank deposits increased by 1.5 per cent, rising from Dhs1,966.8bn at the end of November 2021 to Dhs1,996.5bn at the end of December 2021
The Emiratisation plan will apply to managerial positions across the country’s banking and insurance sectors
The central bank’s foreign assets increased 0.4 per cent year-on-year
The Central Bank of the UAE projects the country’s real GDP to increase by 2.5 per cent in 2021
The exchange house reportedly has a weak anti-money laundering and combating financing of terrorism compliance framework
Al Tameemi has over 30 years of experience in various entities including being a board member in the Central Bank
The balance of the investments in debt securities by Abu Dhabi lenders totalled Dhs182.5bn at the end of 2019
The TESS loan deferral programme has already benefited over 310,000 retail customers, nearly 10,000 SMEs and more than 1,500 private sector companies
Relevant legal actions will be taken for non-compliance
The Central Bank and UAE-based banks confirmed that they do not request such information from consumers
However, consolidated revenues of the UAE’s biggest telecom operator decreased 1 per cent to Dhs25.6bn
The top five destination countries for remittances were India, Pakistan, Philippines, Egypt and the US