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Central Bank of the United Arab Emirates

Central Bank of the United Arab Emirates News

UAE central bank liquidity

Bank liquidity in UAE surges 20% in Q2

Liquid assets in the UAE’s banking sector rose to AED801 billion ($218 billion) by the end of the second quarter of 2024, up 20 percent from the same period last year, the Central Bank of the UAE has revealed.  The increase was AED135 billion year on year, with a quarterly gain of 2 percent, or […]

UAE back to school

Retailers rejoice as shoppers prepare for new school term

An estimated 1.5 million students across the UAE are expected to enrol for the new term on Monday – and retailers are welcoming the traditional spending spree for everything from school uniforms to stationery. This year’s back-to-school shopping sales in the UAE are predicted to reach about AED3 billion ($820 million). “Overall, there is expected to […]

The Gold Souk in Deira, Dubai. The UAE has increased its gold holdings and surveys suggest gold's long-term value is an important factor

UAE Central Bank hedges against uncertainty with gold

The Central Bank of the UAE has increased its gold reserves by 19.7 percent year on year, reaching AED20.6 billion ($5.6 billion) by the end of May 2024, and up from just AED1.1 billion in 2018. The CBUAE’s decision to boost its gold reserves aligns with similar actions by other nations. According to the World […]

The new cabinet was announced by UAE vice president and prime minister, and ruler of Dubai, Mohammed bin Rashid Al Maktoum

Sheikhs Hamdan and Abdullah named UAE deputy PMs

Dubai crown prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and Sheikh Abdullah bin Zayed Al Nahyan have been named deputy prime ministers in a major UAE cabinet reshuffle. Sheikh Hamdan will also serve as the defence minister, while Sheikh Abdullah will continue as minister of foreign affairs, the UAE state-run Wam news agency […]

BitOasis crypto Sumit Gupta and Neeraj Khandelwal, Cofounders, CoinDCX

Indian crypto exchange buys UAE’s BitOasis

CoinDCX, the largest cryptocurrency exchange in India, has bought UAE-based crypto exchange BitOasis for an undisclosed amount. CoinDCX co-founder Sumit Gupta said the move would “establish an even more formidable foothold across the Mena region”. The Middle East-focused BitOasis, founded in 2016 by Ola Doudin, Tarek Kaylani and Daniel Robenek, has processed more than $6 […]

A construction site in Dubai. Companies are increasing prices due to rises in wages and the cost of material

UAE businesses increase prices to protect margins

Companies in the UAE were forced to hike prices for a second month in succession in June, according to the latest business sentiment survey from ratings agency S&P Global. S&P attributed the sharp rise in input prices to material costs, shipping fees and overheads. Wages also grew marginally throughout the month, leading to the fastest […]

The Zero Bureaucracy initative aims to streamline processes and reduce administrive burdens on companies and individuals

UAE to axe 2,000 procedures in ‘Zero Bureaucracy’ drive

The Central Bank of the UAE has announced plans to eliminate at least 2,000 bureaucratic procedures as part of a sweeping “Zero Bureaucracy” plan to enhance efficiency in the country’s financial sector.  The change is aimed at reducing administrative burdens on businesses and individuals, according to state news agency Wam. The bank, in collaboration with […]

The UAE's regulations are designed to exclude fraudulent crypto companies and attract legitimate businesses

UAE introduces regulations to clean up crypto market

The UAE has taken steps towards regulating its payments sector with the introduction of Payment Token Services Regulation in an attempt to push out fraudulent crypto companies and attract legitimate businesses. The new regulations introduced by the Central Bank of the UAE (CBUAE) focus heavily on stablecoins – digital currencies pegged to a real-world asset […]

B8KRCP The Bank of England underground Gold Vaults in London Stacks of Gold Bars are taken into storage Gold bars are taken into storage at the Bank of England;central banks around the world are increasing reserves

UAE increases gold reserves with growth set to continue

The UAE’s gold reserves reached almost AED20 billion ($5.5 billion) at the end of March, rising 12.6 percent year on year, with expectations that the growth will continue into the rest of the year. The Central Bank of the UAE (CBUAE) said the Gulf state’s reserves of the precious metal have risen considerably over the […]