Home / Economy

Economy

UAE financial system more secure and efficient than ever before: CBUAE

The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of mobile banking applications, online banking and overall customer experience, according to the 4th Quarter Report of 2023 issued by the Central Bank of the UAE (CBUAE) on the Monetary, Banking & Financial …

Read More »

MoF announces issuance of a federal decree-law concerning federal properties

 The UAE Ministry of Finance announced the issuance of Federal Decree-Law No. 35 concerning federal properties for 2023, which aims to further develop the legislative environment in inventorying and managing government properties. The law’s scope includes organising all federal properties, whether real estate assets or otherwise. The Decree-law is designed …

Read More »

Mohammed bin Rashid: UAE non-oil foreign trade of goods and services surpassed AED3.5 trillion in 2023 for first time

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, said that the UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, has reached unprecedented heights in its non-oil foreign trade figures, surpassing AED3.5 trillion. His Highness Sheikh Mohammed …

Read More »

UAE Exchange Houses are expected to raise remittance fees by 15% for the first time in five years

The Foreign Exchange and Remittance Group (FERG) announces that exchange houses under the jurisdiction of UAE authorities have received approval to implement an optional strategic fee adjustment, allowing for a minimum increase of 15% which typically equates to 2.50 dirhams. This marks the first fee adjustment in five years, the …

Read More »

GCC banks to prove resilient in 2024 with UAE, Saudi banking systems leading: S&P Global

SP Global‘s ‘GCC Banking Sector Outlook 2024’ reveals a challenging yet optimistic perspective. Despite geopolitical uncertainties and potential economic headwinds, SP expects GCC banks to maintain their well-capitalised, profitable, and liquid status. SP Global anticipates overall stability in key metrics for GCC banks in 2024. Credit growth and profitability are …

Read More »