NymCard, a leading embedded finance platform in the MENA region, has officially secured a license from the Central Bank of the UAE to provide Open Finance services. This achievement positions NymCard as one of the first entities in the UAE to integrate regulated payment functionality into a comprehensive financial infrastructure through a single modular platform....
Kuwait has introduced stringent regulations regarding the hiring of expatriates, mandating that employers must obtain security screening approval prior to issuing work permits. This new rule is part of the government’s efforts to regulate the employment of foreign workers in the country. Credit: ZAWYA The Ministry of Social Affairs and Labor stated that these measures...
Saudi Arabia has introduced a comprehensive procedural guide to implement its recently approved off-plan real estate regulation. This initiative aims to enhance transparency, protect buyers, and formalize obligations for developers in the off-plan property market. The new framework was officially approved by Real Estate General Authority (REGA) CEO Abdullah bin Saud Al-Hammad on May 2...
Experts discussed the challenges of adopting artificial intelligence (AI) in healthcare during the Dubai AI Week. They emphasized that regulations, rather than technology, create barriers to trust and broader adoption of AI solutions in the healthcare sector. As reported by Khaleej Times, Remy Levastre, a strategic healthcare consultant, stated, “The truth is that the bottleneck...
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...