The law effectively creates a register for property investment funds, whose members will be given certain privileges to assist them in their investment activities in emirate’s real estate market
Securities and Commodities Authority
Abu Dhabi Securities Exchange
Lack of investor education threatens future of SPACs in the UAE, experts say
The rise of IPOs in the UAE, however, is driving the local equity markets to gain international standing
Abu Dhabi
Abu Dhabi Securities Exchange and Bahrain Bourse talk over strategic partnership plans
The two stock exchanges met this week about achieving greater cross-border cooperation
Abu Dhabi
Abu Dhabi’s stock exchange eases access for investors registered on other UAE financial markets
The move allows investors with a National Investor Number (NIN) issued by other exchanges to trade eligible securities on ADX through a straight-forward application process
Bal Krishen
UAE’s oldest investment services firm acquires new Category 1 license
Century Financial, which has a long history in UAE-based investments, has strengthened its three decades of market presence by acquiring the new Category 1 SCA license
Abu Dhabi
State Street Global Advisors expands MENA offering with funds for retail investors and wholesale distributors
SSGA, which is best known as an institutional investor, is venturing into new territory by offering some of its funds to retail investors in the Middle East for the first time via distributors such as banks, wealth managers, and financial advisers
Abu Dhabi
Ministerial council discusses measures to boost UAE investments abroad
The council also discussed legislations around adding financial fines to the list of disciplinary measures imposed on private health facilities that do not follow the law
DEWA
Government of Dubai increases DEWA IPO retail tranche to 760 million shares, floats 18 percent of the firm
Based on the previously announced price range of AED 2.25 to AED 2.48 per share, the retail tranche of DEWA IPO will now be between $465.62 million and $513.22 million
Capital Markets
DEWA ups IPO offering from 6.5% to 17% of its share capital making 8.5 billion shares available to investors
The subscription period for the DEWA IPO remains unchanged and will close on 2 April 2022 for UAE retail investors and on 5 April 2022 for qualified domestic and international institutional investors
Abdel Hadi Al Sa’di
Dubai Financial Market partners with BHM Capital to launch simplified investor on-boarding system
The new system enables investors’ to digital onboard, but adheres to the regulatory requirements of the SCA, including verification of the client’s identity, the Know Your Customer mandates, and the anti-money laundering measures
Abu Dhabi
Alpha Dhabi makes $99.9 million commitment to DEWA’s landmark IPO as a cornerstone investor
Building on its highly diversified investment portfolio, Alpha Dhabi’s cornerstone investment in DEWA follows significant investments in other market leaders, including Aldar Properties and Q Holding
cooling service provider
DEWA begins IPO subscription period, set to be DFM’s most valuable company with market cap of up to $33.76bn
The IPO subscription period starts today and runs until 2 April 2022 for the UAE Retail Offering, and until 5 April 2022 for the Qualified Investor Offering
cryptocurrencies
Dubai’s new virtual assets law to spur crypto investment in real estate, empower start-ups: Experts
The law came on the same day as a new US framework for cryptocurrencies, signalling that both countries are set to become leaders in adoption and regulation of digital assets, experts said
cryptocurrencies
Dubai Ruler issues Dubai Virtual Asset Regulation Law to protect investors, govern the industry, and “design the future of virtual assets globally”
The Dubai Virtual Asset Regulatory Authority (VARA) will regulate, supervise, and control virtual asset services. The authority set the rules and controls that govern the conduct of virtual assets activities, including management, clearing, and settlement services, as well as classifying specifying types of virtual assets
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anti-money laundering
Regulatory framework to address money laundering risks across virtual assets to be issued soon: SCA
The Securities and Commodities Authority is the sole authority in the UAE mainland – with the exception of the financial free zones, ADGM and DIFC – for licencing, supervising, and overseeing the virtual assets activities and services issued for investment purposes
Central Bank of the UAE
Sharjah Islamic Bank increases foreign ownership to 40 percent following regulatory approvals
Sharjah Islamic Bank has witnessed a noticeable and active improvement in the performance of its share price, with the increase of foreign ownership to 40 percent providing an additional incentive to promote the trading of the bank’s shares in local markets
anti-money laundering
Anti-Money Laundering and Know-Your-Customer efforts remain key to UAE’s embrace of cryptocurrency
Anti-money laundering is a critical requirement of cryptocurrency if it is to gain acceptance