Central Bank data points to significant uplift in UAE insurance profits, with Dubai leading the way
Central Bank
Latest in Central Bank
CBUAE
UAE insurance sector growing with premiums up 31% to $9.72bn in H1
The UAE insurance sector has witnessed ongoing growth in the first half of the year, according to Central Bank data
Central Bank
UAE Central Bank revokes Galaxy Insurance Broker’s licence
The decision was made under Article 22 (2) of the Board of Directors Resolution No. 15 of 2013 Concerning Insurance Brokerage Regulations in UAE
Central Bank
UAE banks reach $78.06bn in savings deposits
Central Bank of UAE data shows Demand Deposits rose to $287.54 billion) at the end of March 2024
CBUAE
UAE makes first cross-border digital dirham payment, with $13.6m transfer to China
The UAE has sent its first cross-border payment using the Digital Dirham currency
CBUAE
UAE cancels First Insurance licence
Central Bank of the UAE cancelled the licence of First Insurance Brokers Company
Abu Dhabi Airports
UAE thriving real estate and hospitality boost economy amid $136bn Dubai property sales and $122.5bn tourism target
Central Bank of the UAE highlights strong performance of tourism and real estate in Dubai and Abu Dhabi
Central Bank
Reserve Bank of India holds key lending rate steady at 6.5%
This is the third consecutive time the Reserve Bank of India pauses a rate hike
Bahrain
UAE, other GCC nations hike interest rates as US Fed benchmark hits 22-year high
GCC central banks hike interest rates following the Fed’s decision to take benchmark borrowing costs to their highest level since 2001
Central Bank
UAE, Saudi, Qatar and Bahrain central banks hike interest rates following US Fed 0.25% raise
UAE and Saudi follow US in raising interest rates
Central Bank
UAE, Saudi, Bahrain and Qatar Central banks raise interest rates after Fed hike in US
UAE and Saudi Arabia join Gulf central banks in interest rates increas
Central Bank
Kuwait’s central bank announces 0.5 percent hike in discount rates to 3.5%
Indian central bank also announced a 35 basis points hike in lending rates to 6.25 percent on Wednesday
Abu Dhabi Securities Exchange
UAE financial market ends in green, Saudi in red amid interest rate hike
Market analysts attributed the reason for the upbeat sentiments in UAE market to the robust Q3 corporate earnings, though there was caution persisting on interest rate hike decision
Central Bank
Inflation, Central Banks, and why it matters
Inflation is the key reason behind a dismal year for investments. Despite regional nuances, the issue is truly global and may not find a quick solution. Volatility should prevail for the coming months
Central Bank
Central banks in the Gulf follow US Fed move to raise interest rates
Most Gulf central banks follow the US Fed because their currencies are pegged to the US dollar
anti-financial crime
Everything you need to know about the UAE’s new anti-money laundering guidelines
The UAE has increasingly tightened measures against anti-money laundering and financial crimes including efforts to arrest the Gupta brothers
anti-money laundering
UAE central bank imposes $1.4 million fine on exchange house
The sanction was imposed after the regulator found that “the exchange house had a weak compliance framework regarding the required due diligence policies and procedures to prevent money laundering and financing of terrorism”