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Network obtains SVF licence from UAE Central BankNetwork International announced that it has obtained a stored value facility (SVF) licence from the Central Bank of the UAE that will enable it to further support the UAE’s growing digital payment ecosystem. More… |
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UAE banks told to defer loan repayment for rain-hitThe Central Bank of UAE has issued a notice to all banks and insurance companies to allow the deferral of repayment of instalments of personal and car loans for customers affected by the recent rains and flooding for a period of six months.&nb More… |
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UAE banks told to defer loan repayment for rain-hitThe Central Bank of UAE has issued a notice to all banks and insurance companies to allow the deferral of repayment of instalments of personal and car loans for customers affected by the recent rains and flooding for a period of six months.&nb More… |
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CBUAE's foreign assets up to AED592bn in JuneThe UAE's current account balances and deposits with banks abroad amounted to AED363.23 billion by the end of June, 2023, from AED361.78 in the previous month, according to the latest figures revealed by the Central Bank of the United Arab More… |
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MyFatoorah obtains UAE Central Bank Acquiring licenceMyFatoorah, a leading payments' platform, has obtained licences from the Central Banks of six regional countries, including the Acquiring licence from the UAE Central Bank. With the issuance of these More… |
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UAE cbank revokes licences of exchange house, hawaladarThe Central Bank of the UAE (CBUAE) has revoked the licence of Dirham Exchange, an exchange house operating in the UAE, and struck off its name from the register, and revoked the registration of RMB Commercial Brokers Co, a Hawaladar operating More… |
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GCC central banks raise key rates following Fed hikeCentral banks in the Gulf Cooperation Council (GCC) have raised their key interest rates following the US Federal Reserve's decision to raise rates by 25 basis points on Wednesday. The Central Bank of Saudi More… |
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UAE economy will see 4.3%growth in 2024: Central BankThe Central Bank of the UAE has maintained its growth forecast for the national economy unchanged at 4.3% for 2024. In its quarterly economic review, the apex bank said that the UAE economy continued to grow at More… |
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Global inflation rates not slowing down, say expertsInflation remains a key concern amid growing macro headwinds and most developed economies are experiencing 8-10% inflation rates and these are not yet slowing down, said an industry expert. “Valuations globally have come in More… |
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UAE interbank fund transfers jump 26% in first four months of 2022The gross value of interbank fund transfers through UAE Fund Transfer System (UAEFTS) reached to AED3.96 trillion in the first four months of 2022, an increase of 26.2 percent over the corresponding period in 2021, according to statistics rele More… |
