ADGM's financial regulator fines Sarwa Digital Wealth (Capital) Limited $122,500
The Financial Services Regulatory Authority of Abu Dhabi Global Market has imposed a financial penalty of USD 122,500 (AED 449,881)…
Regulation, Risk & Compliance
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IMF says UAE overall real GDP projected to grow 4% in 2024
The IMF had projected GDP growth for the Gulf oil exporter at 3.5% in 2024 in its most recent Regional…
UAE: Can employers ban employees from joining rival firms, force them to leave country?
Question: I work in a mainland IT company in Dubai. I am switching the job because of a better package…
Fintech firm Hala gets SAMA approval to offer debt-based crowdfunding solutions
Saudi businesses are set to gain access to new crowdfunding solutions as Hala Payments Co. has received licensing approval from…
Qatar to sign more long-term LNG contracts this year: Qatar Energy CEO
Qatar has not had difficulty securing long-term liquefied natural gas contracts and will sign more this year, Qatar Energy CEO…
NBK warns against transferring money to unknown parties
The bank stresses the necessity to verify people’s identity before money transfers Random calls may target stealing and cloning…
GCC bank’s profitability to remain strong in 2024 due to delay in US Fed’s rate cut
A delay in interest rate cuts by the US Federal Reserve will see Gulf Cooperation Council banks’ profitability remain strong…
Saudi government assets to remain strong through 2030: S&P Global
The Saudi government’s assets are forecasted to remain strong amid steady economic diversification efforts aimed at reducing the Kingdom’s dependence…
DIFC announces consultation for amendments to DIFC law on application of civil and commercial laws
Dubai International Financial Centre has proposes to enact amendments to DIFC Law on the Application of Civil and Commercial Laws…
CBUAE maintains the base rate at 5.40%
The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility…
Saudi Central Bank and BIS co-host meeting on reserve management in Riyadh
The evolving global landscape presents new challenges and opportunities for central bank reserve managers, the governor of Saudi Arabia’s apex…
BlackRock signs agreement with Saudi wealth fund to anchor new Riyadh investment platform
BlackRock Saudi Arabia intends to establish a Riyadh-based multiasset-class platform investing across public and private markets, with an initial anchor…