The Central Bank of the UAE (CBUAE) has successfully concluded its Climate Forum in Abu Dhabi, organized under the patronage of H.H. Sheikh Mansour Bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the UAE. This forum showcased high-level local and international participation, reflecting the UAE’s leadership in sustainable finance. It emphasized the...
The UAE Central Bank has announced a six-month suspension of a bank’s Islamic window from onboarding new customers. This decision also includes a fine exceeding Dh3.5 million ($953 632) due to the bank’s non-compliance with Sharia governance rules. An Islamic window refers to a unit within a conventional bank that allows customers to engage in...
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....
The UAE will participate in the Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) 2025, scheduled from April 21 to 26 in Washington, D.C. The delegation will be led by Mohamed bin Hadi Al Hussaini, the Minister of State for Financial Affairs, and will include representatives from the Ministry...
The UAE Central Bank has decided to maintain its current interest rate for the overnight deposit facility at 4.4 per cent. This move aligns with the US Federal Reserve’s recent decision to keep its rates steady, following three consecutive rate cuts. The decision reflects the UAE’s monetary policy approach, which closely follows the US model...