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The Central Bank of the United Arab Emirates has officially revoked the license of Dynamics Insurance Brokers. This decision was made in accordance with Article 22 (2) of the Council’s Decision, signaling a significant regulatory action within the insurance sector. The revocation comes as part of the Central Bank’s ongoing efforts to ensure compliance and...
BitPanda, a regulated crypto assets platform based in Europe, has successfully acquired a crypto brokerage license from Dubai’s Virtual Assets Regulatory Authority (VARA). According to MSN, this new license allows BitPanda to extend its services to both retail and institutional investors in the MENA region, marking a big step in its international expansion. With this...
The United Arab Emirates’ General Civil Aviation Authority (GCAA) has launched a pioneering regulation that establishes national standards for certifying air navigation service providers for unmanned aircraft. This new framework, known as CAR Airspace Part Uspace, is the first of its kind in the region, aiming to ensure that organizations offering drone air navigation services...
The Abu Dhabi Registration and Licensing Authority (ADRA) has announced updates to its licensing procedures aimed at improving efficiency and service delivery for businesses in the emirate. This initiative is part of the government’s ongoing efforts to facilitate a more transparent and streamlined process for business operations. According to the Abu Dhabi Media Office (ADMO),...
Financial markets are undergoing significant changes, with artificial intelligence (AI) increasingly influencing investment management. A notable example of this shift is the Galileo FX, an AI-driven bot that reportedly achieved a remarkable 500% return on a $3,200 investment in just one week. Additionally, the introduction of Deepseek is set to enhance processing capabilities, further advancing...
Cryptocurrency exchange Bybit is on the verge of obtaining a full operational license in the United Arab Emirates after recently experiencing a significant hack that resulted in a loss of $1.4 billion. The exchange announced that it received in-principle approval from the Securities and Commodities Authority (SCA) to operate as a virtual asset platform within...
In a significant effort to enhance environmental conservation, the Environment Agency — Abu Dhabi (EAD) has introduced new regulations that impose tougher administrative penalties on activities that damage the environment. This move aims to strengthen the enforcement of environmental standards and safeguard the emirate’s natural resources. The new framework enables the EAD to take swift...
The General Civil Aviation Authority (GCAA) announced that all drone registration certificates issued in the UAE before January 6 will now be deemed invalid. This update was part of significant changes for drone enthusiasts following a partial lift of the individual drone use ban, which was initially announced by the Ministry of Interior on January...
Dubai has introduced new regulations targeting foreign banks operating in the emirate. H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, approved Executive Council Resolution No. (101) of 2024. This move aims to ensure that foreign banks comply with administrative guidelines while conducting business in...