UAE Central Bank issues new guidelines to combat money laundering
The UAE Central Bank has issued new guidelines for licenced financial institutions, including banks, finance companies, exchange houses and insurance…
Regulation, Risk & Compliance
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New Lab Paves Way for Saudi Arabia’s Open Banking Launch
The Kingdom of Saudi Arabia has launched an Open Banking Lab for banks and FinTechs. The new lab, announced…
Gross bank assets rose to Dhs3.58tn by end of Oct 2022, reveals Central Bank of UAE
The Central Bank of the UAE has said that gross banks’ assets, including bankers’ acceptances, rose by 0.9 per cent,…
Kuwait selects Google Cloud for nationwide digital transformation
Google Cloud has announced a strategic alliance with the Government of Kuwait to roll out a comprehensive digital transformation roadmap…
Egyptian pound sees largest single-day fall since IMF deal
The Egyptian pound tumbled in its largest single-day slide since the government agreed to a $3 billion International Monetary Fund…
Egypt: Credit facilities for 100 largest bank clients increase to $24.32bln
The Central Bank of Egypt has revealed that the credit facilities granted to the largest 100 borrowers in the public…
Central Bank of Turkey Successfully Tests Payment Transactions Using Digital Lira
The Central Bank of the Republic of Turkey has successfully tested the first transactions using the digital Turkish Lira. …
Dubai regulator upholds $135mln fine against Abraaj founder
Dubai’s financial regulator said a $135 million fine against Abraaj founder Arif Naqvi has been upheld, saying its original findings…
Flat6Labs and Wio Bank sign MoU to streamline and enhance SME-centric banking services for start-ups in Abu Dhabi
In a bid to further strengthen Abu Dhabi’s entrepreneurship ecosystem, Flat6Labs, the MENA region’s leading seed-stage program and early-stage venture…
CBE issues new rules for bank statements: Egypt
The Central Bank of Egypt (CBE) issued new rules regulating reporting of bank statements by the banking sector, according to…
AMF & AGFUND sign MoU to promote economic development in Arab region
The Arab Monetary Fund (AMF) and The Arab Gulf Programme for Development (AGFUND) signed a memorandum of understanding on Wednesday,…
SAMA to launch Basel III reforms implementation in January 2023
The Saudi Central Bank, also known as SAMA, on Wednesday said the Basel III reforms will come into force in…