News

30 Oct

President issues Federal Decree-Law on anti-money laundering, countering financing of terrorism

President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued Federal Decree No. 20 of 2018 on anti-money laundering and countering the financing of terrorism. Commenting on the issuing of the Federal Decree, H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, said, “The UAE’s wise leadership is […]

29 Oct

New CBUAE law lauded

Financial analysts have hailed the new law issued to govern the Central Bank of the United Arab Emirates, and regulate financial institutions and activities as a step forward to bolster monetary performance and confidence in the economy. The new law raises CBUAE capital to AED20 billion and allows for the establishment of a general reserve […]

29 Oct

President Khalifa issues Federal Decree-Law concerning Central Bank, organisation of financial institutions & activities

President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued Federal Decree-Law No. 14 of 2018 regarding the ‘Central Bank and Organisation of Financial Institutions and Activities’. The provisions of this law does not apply to the Financial Free Zones in the State and the financial institutions regulated by the authorities of those zones. […]

28 Oct

President Khalifa issues Federal Decree-Law concerning Central Bank, organisation of financial institutions, activities

President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued Federal Decree-Law No. 14 of 2018 regarding the ‘Central Bank and Organisation of Financial Institutions and Activities’. The provisions of this law does not apply to the Financial Free Zones in the State and the financial institutions regulated by the authorities of those zones. […]

25 Oct

UAE & Mauritius discuss investment ties at business forum

The Federation of UAE Chambers of Commerce and Industry and Mauritius have explored investment opportunities at a joint business forum, held yesterday in Port Louis. The forum aimed to introduce the attractive investment environment in the UAE and Mauritius, and briefed investors on both countries opportunities in key sectors. On the sidelines of the forum, […]

24 Oct

Mohammed bin Rashid Fund and RAKBANK reaffirm partnership to facilitate Small & Medium Enterprise (SME) financing

The Mohammed bin Rashid Fund (MBRF) of Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, has signed a Memorandum of Understanding with RAKBANK to facilitate SME access to competitive financing solutions. The MoU will allow Dubai SME members to secure […]

23 Oct

Ministry of Economy briefs US delegation on UAE investment opportunities

Juma Mohammed Al Keet, Assistant Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, discussed with a US commercial delegation from leading companies in information technology, opportunities of trade and investment cooperation with the Emirati business community. The delegation was also briefed about the development in the UAE national economy, key economic strategies and […]

20 Oct

Federal Tax Authority announces positive results for first year of Excise Tax

The Federal Tax Authority (FTA) has revealed that compliance with Tax Returns requirements for Excise Tax one year after its introduction in the UAE has amounted to 97.7% of registered businesses – one of the highest rates in the world – while the total number of registrants reached 715 registrants. Khalid Ali Al Bustani, Director […]

16 Oct

FTA simplifies VAT refund procedures for UAE nationals building new residences

Khalid Ali Al Bustani, the Director-General of the Federal Tax Authority, FTA, has announced that procedures to reclaim Value Added Tax, VAT, for UAE nationals who are building new residences have been simplified with electronic procedures. The announcement was made today through a press release that detailed the latest updates on the VAT refund process […]