Residents and citizens of the United Arab Emirates (UAE) can now use a paperless direct debit marketplace. The UAE Central Bank has approved the launch of the marketplace developed by Direct Debit System, enabling payers and merchants to use it to make recurring monthly payments and including it in the UAE Direct Debit System (UAEDDS) ...

To promote public awareness of the new denominations and increase their circulation, the CBUAE – in collaboration with the UAE Banks Federation (UBF) – has provided the new AED5, AED10 and AED50 notes through participating banks’ ATMs. The Central Bank of the UAE (CBUAE) has announced that the new AED5 and AED10 banknotes have entered ...

The penalty was imposed pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combatting the Financing of Terrorism. The Central Bank of the UAE (CBUAE) imposed a financial sanction of AED 352,000 ($95,854) on an exchange house operating in the country, due to it failures to achieve appropriate ...

The Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) jointly announce today the exchange of a Memorandum of Understanding (MoU) to enhance collaboration on fintech between the two authorities, with a view to strengthening co-operation between the two jurisdictions in promoting innovative financial services and regulatory development. Under ...