UAE Central Bank lowers interest rates following US Federal Reserve move
The UAE Central Bank reduced its benchmark interest rate by 25 basis points, after the US Federal Reserve’s move on…
Regulation, Risk & Compliance
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Bahrain's central bank cuts overnight deposit rate by 25 bps, statement says
The Central Bank of Bahrain on Wednesday cut its overnight deposit rate by 25 basis points to 5% from 5.25%,…
Egypt pound breaches 50 to the dollar, Central Bank says
The Egyptian pound weakened to close at 50.0024 to the dollar, having breached the 50 pound psychological barrier for the…
Central Bank of Egypt joins the Pan-African Payment and Settlement System “PAPSS”
In line with Egypt's unwavering efforts to enhance regional banking relations and strengthen economic collaboration with African countries, the Central…
Social Development Bank signs an MoU to renew partnership with UNCTAD’s empretec program in Saudi Arabia
The Social Development Bank has signed a Memorandum of Understanding (MoU) with the United Nations Conference on Trade and Development …
Qatar Central Bank issues digital banks regulatory framework
In line with the Third Financial Sector Strategy, the Fintech Strategy, and the Qatar Central Bank’s ongoing endeavor to regulate…
New regulations reinforce Dubai’s progressive virtual assets landscape
The United Arab Emirates , particularly Dubai, has positioned itself as a global hub for virtual assets, having established a…
Saudi Arabia approves FY2025 budget, forecasts $27bn deficit amid expansionary spending
Saudi Arabia on Tuesday approved the state budget for fiscal year 2025 with revenues projected at SR1.18 trillion ($315.73 billion)…
Bankruptcy law change lures private credit to UAE
A new bankruptcy law which came into effect in the UAE earlier this year is attracting an influx of private…
BlackRock Gets Abu Dhabi License Weeks After Nod for Saudi HQ
BlackRock Inc. received a commercial license to operate in Abu Dhabi, the latest sign that the asset manager is looking…
Kuwait Central Bank holds discount rate steady at 4.0% despite Fed cuts
According to the weekly report from Al-Shall Center, the US Federal Reserve reduced the benchmark interest rate by a quarter…
FAB’s EOSB funds secure initial approval from MOHRE, SCA
Through this initiative, employees now have the chance to grow their end-of-service benefits using the UAE government’s new Alternative End-of-Service…