Australian fintech startup InDebted has officially launched its operations in the United Arab Emirates (UAE). This expansion marks the company’s entry into its seventh market since it was established in 2016. InDebted specializes in digital debt collection solutions, employing artificial intelligence to provide personalized repayment options for its clients. The company places a strong emphasis...
ICM.com has successfully obtained its second licence in the United Arab Emirates (UAE), marking a significant step in the brokerage’s efforts to strengthen its foothold in the Middle East. The announcement was made today, revealing that ICM MENA, a subsidiary of ICM.com, received the Securities and Commodities Authority (SCA) licence from Dubai’s regulatory authorities. This...
Five banks and two insurance companies in the United Arab Emirates have been penalized a total of AED 2.62 million for failing to adhere to tax regulations, as announced by the Central Bank of the UAE (CBUAE) on Tuesday. The CBUAE reported that the penalties were imposed after the entities did not comply with the...
Abu Dhabi Commercial Bank (ADCB) announced that S&P Global Ratings has upgraded its long-term issuer credit rating to ‘A+’ from ‘A’ with a ‘stable’ outlook. This elevation is attributed to the bank’s robust financial position and high asset quality. The upgrade places ADCB among the top three highest-rated banks by S&P in the MENA region....
The National Bank of Fujairah (NBF) has achieved significant recognition by securing two prestigious ISO certifications, reaffirming its dedication to operational excellence. The certifications include ISO 27001:2022, which focuses on Information Security Management Systems, and ISO 9001:2015, which pertains to Quality Management Systems. Mahendra Dhillon, Chief Operations and Technology Officer at NBF, noted that this...
Abu Dhabi Commercial Bank (ADCB) has received an upgrade in its long-term issuer credit rating from S&P Global Ratings, moving from ‘A’ to ‘A+’ with a stable outlook. This upgrade emphasizes the bank’s robust financial position and high asset quality, placing ADCB among the top three highest-rated banks in the MENA region according to S&P....
The Central Bank of the UAE (CBUAE) has officially launched a new Dh100 banknote, which is now in circulation as of March 24, 2025. This new currency is made from polymer and features innovative designs along with advanced security elements aimed at enhancing consumer confidence. The new Dh100 banknote will circulate alongside the existing Dh100...
Tern Rewards has introduced a groundbreaking digital rental payment and rewards platform in the UAE, transforming the real estate market. This innovative platform enables tenants to pay their rent via credit card while earning double rewards, thereby enhancing the interaction between tenants and landlords. The solution combines financial flexibility with advanced technology, providing a smarter,...
Dubai is undergoing significant regulatory reforms aimed at enhancing its status as a growing hub for hedge funds. The Dubai Financial Services Authority (DFSA) is conducting a thorough review of existing regulations to reduce unnecessary burdens and lower entry barriers for financial firms. One of the key proposals from the DFSA includes reducing the minimum...
Barq has announced a strategic partnership with Western Union, a global leader in international money transfers. This collaboration is set to redefine remittance services in the Kingdom, allowing millions of users to send and receive money through the barq app with unmatched ease and security. By merging Western Union’s extensive global payment network with barq’s...