prospector

100 Days of COP28 legacy DIFC forges ahead with Sustainable Finance Catalyst Dubai International Financial Centre (DIFC) continues to drive its actionable commitment towards climate change by implementing pledges made by finance industry stakeholders at the record-breaking COP28 UAE in December last year. The Centre reaffirmed its dedication to support the finance sector, moving beyond […]

The UAE topped the Middle East and North Africa in the Tourism Visa Openness Index for the year 2023, prepared by the United Nations Tourism Organization. The UAE scored 67.80 points on the general index.The Middle East region has made important progress in visa facilitation. In 2015, a significant 71% of the world’s population needed

At the end of the fourth quarter of 2023, the Central Bank’s foreign assets increased by 16.7% (q-o-q), reaching AED 681.2 billion. This rise was because of quarterly expansions in Current Account Balances & Deposits with banks abroad by 27.0% (a quarterly increase of AED 94.4 billion) and in Foreign Securities by 10.6% (a quarterly

100 Days of COP28 legacy DIFC forges ahead with Sustainable Finance Catalyst: Dubai International Financial Centre (DIFC) continues to drive its actionable commitment towards climate change by implementing pledges made by finance industry stakeholders at the record-breaking COP28 UAE in December last year. The Centre reaffirmed its dedication to support the finance sector, moving beyond

In March 2022, the DFSA published Consultation Paper (CP) 143 on the regulation of Crypto Tokens, with the intention of putting into place a comprehensive regime that addressed a wide range of risks associated with Crypto Token business. This included requirements relating to technology, governance, custody, disclosure, market abuse and fraud.  Since then, many regulatory

As part of the DFSA’s efforts to support and enable new financial service business models, a regime was introduced in 2018 to accommodate small and medium sized enterprises (SMEs) obtaining finance through Loan and Investment Crowdfunding Platforms. However, like many financial services, crowdfunding evolved, it is providing financing to SMEs, and used to finance the

Following reviews conducted during 2023, the Committee proposes to update the requirements relating to banks’ exposures to stablecoins. The proposals flesh out the criteria on the composition of the reserve assets that back stablecoins, covering issues such as the credit quality, maturity and liquidity of the reserve assets. The requirements determine whether the stablecoins to

The Central Bank of the UAE (CBUAE) has issued the UAE Islamic Finance Report 2023 which highlights the sustainable Islamic finance efforts of Islamic financial institutions (IFIs) across the UAE. The report comes in line with the UAE’s Year of Sustainability and its recent hosting of COP28. The report analyses the performance of various Islamic

Dubai: Dubai has been recognised as a premier global city for talent flows, securing the third position just after London and New York, according to a recent Harvard Business Review report. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, lauded the emirate’s notable

The United Arab Emirates is among the world’s most dynamic markets in terms of foreign trade, with trade accounting for 167% of the GDP according to the latest available data from World Bank. The country is one of the world’s top 20 largest exporters and importers of commodities and the largest trading nation in the