Al Masraf Embraces Blockchain-Based eKYC Solution, Integrates with norbloc Fides Platform
Al Masraf, a governmental bank in the UAE, has unveiled its latest initiative aimed at integrating with the norbloc Fides platform, a cutting-edge blockchain-powered solution designed for the secure exchange of eKYC information. Operating since 2020, this interconnected network acts as an ecosystem, connecting licensing authorities, free zones, and financial institutions throughout the emirates. Through […]
The UAE Strikes Again: Crypto Exchange Gemini to Land in the Emirates
Gemini, the cryptocurrency exchange owned by the Winklevoss brothers, has revealed its intention to obtain a crypto service license to cater to customers in the United Arab Emirates (UAE). The decision comes as a result of growing interest in cryptocurrencies among UAE citizens and productive dialogues with local regulators. Cameron and Tyler Winklevoss, co-CEOs of […]
Blockchain-driven Sustainability: BEEAH Group, ISWA, and Roland Berger Unite for Global Climate Action
During a significant event, BEEAH Group, the International Solid Waste Association (ISWA), and management consultancy Roland Berger joined forces by signing a Memorandum of Understanding (MoU) to collaboratively establish a global standard for waste recycling. This pioneering initiative has gained the endorsement of the UAE Ministry of Climate Change and Environment (MoCCaE). Also, the presence […]
UAE Central Bank Releases Comprehensive AML/CTF Guidelines for Virtual Assets
The Central Bank of the UAE (CBUAE) has issued comprehensive guidance on anti-money laundering and combatting the financing of terrorism (AML/CFT) for Licensed Financial Institutions (LFIs). The new guidelines aim to address concerns related to virtual assets, including cryptocurrencies and non-fungible tokens. By taking into account the Financial Action Task Force (FATF) standards, the guidance […]
Central Bank of the UAE and Hong Kong Monetary Authority Collaborate to Enhance CBDC and Financial Cooperation
The United Arab Emirates’ Central Bank (CBUAE) and the Hong Kong Monetary Authority (HKMA) convened a bilateral meeting in Abu Dhabi with the objective of enhancing collaboration between their respective financial service sectors. Multiple areas of collaboration were explored during the meeting, encompassing financial infrastructure, financial market connectivity, and virtual asset regulations. The central banks […]
Revolutionary Collaboration: Tranglo and Al Ansari Exchange Unite to Transform Cross-Border Payments in the UAE
Al Ansari Exchange, the leading provider of outward personal remittance and foreign exchange services in the United Arab Emirates (UAE), has joined forces with Tranglo, a hub for cross-border payments. Their goal is to enhance the overall experience of international payments and revolutionize the remittance landscape within the UAE. This collaboration marks a significant milestone […]
Dubai’s Financial Regulator Warns of Global Regulatory Void in Crypto Landscape
According to an official, Dubai’s financial regulator has issued a warning, emphasizing the need for global watchdogs to enhance their communication and coordination to prevent “bad actors” from exploiting gaps in cryptocurrency regulations. Elisabeth Wallace, an associate director at the Dubai Financial Services Authority (DFSA), announced that the regulator is planning to update the rules […]
SAUDIA and Accenture Collaborate to Redefine Travel with AI: Seamless Journeys and Personalized Interactions Await
SAUDIA, the national flag carrier of Saudi Arabia, has signed an agreement with global professional services firm Accenture paving the way for a digital transformation program that will make the airline’s guest experience seamless and highly personalized while improving operational efficiency. Through this agreement, SAUDIA will use artificial intelligence technologies to significantly enhance its digital […]
UAE Digital Economy Council Highlights National Endeavors in Pursuit of Global Leadership in Future Economy
Omar bin Sultan Al Olama, the Minister responsible for Artificial Intelligence, Digital Economy, and Remote Work Applications, reaffirmed the continuous efforts of the UAE government. These efforts are driven by the directives of President Sheikh Mohamed bin Zayed Al Nahyan and the vision of Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister, […]
Introducing TaxGPT: Virtuzone Unveils the First AI Corporate Tax Assistant for UAE Businesses
Virtuzone, a company formation specialist and provider of corporate services in the UAE, has introduced TaxGPT, a revolutionary AI-powered assistant designed to assist businesses in the UAE in navigating the upcoming corporate tax law. This law is scheduled to take effect on June 1, 2023, and TaxGPT is programmed to help businesses understand and comply […]