Tag: uae central bank exchange rate
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UAE Central Bank Approves Direct Debit System Marketplace Launch
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) ... -
UAE Central Bank issues New Anti-money Laundering Guidelines
The Central Bank of the UAE (CBUAE) has issued new anti-money laundering and counter-terrorism financing (AML/CFT) guidelines for licensed financial institutions (LFIs), which include banks, finance companies, exchange houses, insurance companies, agents, and brokers. The guidelines focus on the use of digital ID mechanisms that LFIs should employ on an ongoing basis to perform customer ... -
UAE, GCC Central Banks likely to hike interest rates again in the coming week
Central Banks: Borrowing cost is set to rise in the UAE and other Gulf countries in the coming week as the US Federal Reserve is expected to hike rates by 75 bps yet again. Since the UAE and other GCC countries’ currencies are pegged to the US dollar, regional central banks follow the Fed to ... -
UAE Central Bank offers ‘Advanced Executive Certificate’ for its Internal Risk Supervisors
Dubai: The UAE Central Bank has introduced a certificate programme for those operating as ‘risk-based supervision professionals’. The Advanced Executive Certificate represents the second level of the regulator’s internal supervisory certification programme. The objective is to enhance the skills of Central Bank supervisors who examine licensed financial institutions in the UAE, within a risk-based supervisory ... -
UAE Central Bank imposes financial sanctions on 6 Banks
The Central Bank of the UAE (CBUAE) on Thursday said it imposed financial sanctions on six banks operating in the UAE for failures to achieve appropriate levels of compliance regarding required due diligence and reporting procedures and standards. The banks have been penalized in line with implementing certain provisions of the Organization for Economic Cooperation ... -
CBUAE, in collaboration with UBF and Banks, provides new 5, 10 and 50 Dirham Banknotes at ATMs
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 ...
