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Topic: Central Bank of the UAE

UAE currency houses will be subject to new Central Bank rules

The proposed law change comes after a Central Bank decision this month to revoke the licences of two exchange houses. Pawan Singh / The National

May 19, 2013

New rules designed to tighten the regulation of money exchange houses are planned by the Central Bank in the wake of the closure of two exchange houses for breaking rules. Read Article UAE currency houses will be subject to new Central Bank rules

Talking money exchange

May 19, 2013

Promoth Manghat, the vice president of global operations at UAE Exchange, and Osama Al Rahma, the general manager of Al Fardan Exchange, talk about illicit money flows and how the industry is policing its ranks. Read Article Talking money exchange

Vow to tidy up UAE's exchange industry

Customers send remittances to their home countries at an exchange in Deira, Dubai. With more than 130 exchange houses in the UAE, competition is intense. Razan Alzayani / The National

May 19, 2013

New rules designed to tighten the regulation of money exchange houses are planned by the Central Bank in the wake of the closure of two exchange houses for breaking rules. Read Article Vow to tidy up UAE's exchange industry

UAE plan to turn your Emirates ID into a credit card

Al Hilal Bank is currently experimenting with the possibility of using the Emirates ID card as a pre-paid credit card. Sarah Dea / The National

May 15, 2013

Emirates Identity Authority is in talks with the Central Bank to enable financial transactions on the ID card by 2015. Read Article UAE plan to turn your Emirates ID into a credit card

 

Two UAE money changers lose licences

Financial companies in the UAE have been under growing pressure to comply with a raft of tightening international sanctions and other anti-money laundering rules. Pawan Singh / The National

May 09, 2013

The Central Bank has revoked the licence of two money exchange companies, claiming the pair broke regulatory rules. Read Article Two UAE money changers lose licences

 

Central Bank refers mortgage cap draft back to UAE lenders

May 07, 2013

The Central Bank has referred its draft law on mortgages back to the UAE's banking sector for consultation. Read Article Central Bank refers mortgage cap draft back to UAE lenders

 

UAE Central Bank chief rails against quick fixes for economic perils

Apr 22, 2013

The Central Bank Governor has warned short term fixes to economic problems among the advnced economies is damaging confidence. Read Article UAE Central Bank chief rails against quick fixes for economic perils

 

UAE mortgage cap will not end flipping in Dubai property market

People queue on Saturday at the Emaar sales office in the hopes of buying property. Satish Kumar / The National

Apr 17, 2013

The introduction of new mortgage caps will do little to curb price inflation, but plans could force buyers to think twice before jumping into the recovering property market. Read Article UAE mortgage cap will not end flipping in Dubai property market

 

30 villas sold in Saadiyat beach scheme

A model of Saadiyat Island master plan on display at the TDIC Cityscape stall. Pawan Singh / The National

Apr 17, 2013

Tourism Development & Investment Company, the master developer behind Saadiyat Island, said yesterday it had found buyers to reserve 30 planned villas on the first day of sales. Read Article 30 villas sold in Saadiyat beach scheme

 

UAE federal credit check agency set for July start

A total of 1.4 million cheques failed at the point of use last year, representing payments of Dh46.8 billion, or one in every 20 cheques used. Silvia Razgova / The National

Apr 16, 2013

The UAE Central Bank is preparing to begin trials for how the proposed federal credit bureau will operate. The pilot programme is being prepared to start in July. Read Article UAE federal credit check agency set for July start

 

UAE banks lead surge in share value revival

Dubai Islamic Bank reported net profits of Dh301.7 million for the first quarter, representing a 17 per cent increase compared with the same quarter last year. Karim Sahib / AFP

Apr 15, 2013

Banks stocks are helping the UAE's stock exchanges to reach fresh highs, with the local economy back on a sound footing.  Read Article UAE banks lead surge in share value revival

 

Central Bank ready to introduce UAE's direct debit system

The Central Bank has been in the midst of trials of its direct debit system to address the 1.4 million cheques that failed at the point of use during 2012. Ryan Carter / The National

Apr 10, 2013

Bounced cheques: All of the UAE's banks and finance companies are to adopt the service, allowing borrowers to fund repayments from their bank account when instalments are due. Read Article Central Bank ready to introduce UAE's direct debit system

 

UAE Central Bank makes ruling on Emirati and expat mortgage cap

mortgage-cap

Mar 28, 2013

Mortgage cap Under the new rules, which are set to be announced officially shortly, mortgages in the UAE will be capped at 80 per cent for Emiratis and 75 per cent for expatriates. Read Article UAE Central Bank makes ruling on Emirati and expat mortgage cap

 

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Editor's Picks

Gold iPads for Dubai's Burj Al Arab guests

gold-ipad

Guests of the Burj Al Arab will now be presented with 24-carat gold iPads when they check in at the lavish hotel.  Gold iPads for Dubai's Burj Al Arab guests

Mental illness or just personality traits?

An executive yells at his staff - the guide could classify him as suffering from a personality disorder. Tim Pannell / Corbis

It is the manual for many US psychiatrists and the latest edition is out this week. Yet the DSM-5 is already under attack for listing as mental disorders what others regard as just personality traits.   Mental illness or just personality traits?

It's Dubai-based Michael Cinco's moment

DUBAI , UNITED ARAB EMIRATES - April 27 , 2013 : Michael Cinco , fashion designer ( right ) with model during the rehearsal before the start of his show at Madinat Jumeirah in Dubai. ( Pawan Singh / The National ) For Arts & Life. Story by James Gabrillo

We spend the day backstage with Dubai designer Michael Cinco. See a video interview with him here.  It's Dubai-based Michael Cinco's moment

Constantine, the most beautiful city you've never heard of

Famous for its dramatic bridges, the eastern Algerian city of Constantine has been selected as the 'Arab Capital of Culture' for 2015. Photo: Lindsay Mackenzie for the National.

Most people don't know anything about the Algerian city selected by the Arab League's cultural arm to be the capital of Arab culture in 2015.  Constantine, the most beautiful city you've never heard of

Hollioake not short on confidence ahead of Fighting Chance

Surrey and England cricketer Adam Hollioake lifts a set of dumbbells at The Oval cricket ground in London on September 3, 2003 to promote his forthcoming 2,000 mile trip from Edinburgh to Tangiers. [The trip is due to begin on October 3, 2003 where he will walk, sail and cycle to raise five million pounds ($7,842,000 ) for the Ben Hollioke Memorial Fund which is aiming to build a centre for the CHASE Children's Hospice Service. Adam's brother Ben, a young England and Surrey cricketer who at the age of 19 wa

Former England cricket captain Adam Hollioake has morphed into a cage fighter and wants to show off his new boxing skills against Carlos Spencer at Fighting Chance Dubai.  Hollioake not short on confidence ahead of Fighting Chance

Tamil refugees sheltering in UAE granted asylum in the USA and Europe

Eleven of the Tamil refugees at Dubai International Airport before flying to the US last month. They were among a group of 46 Sri Lankan refugees, who were resettled in the US with the help of UNHCR. (Photo-Courtesy Red Crescent Authority.) FOR PREETI KANNAN STORY

Two of the four refugees will begin new lives in the USA, with the others moving to Sweden and Finland.  Tamil refugees sheltering in UAE granted asylum in the USA and Europe

In pictures: Eurovision Song Contest 2013

Action from Malmo and last night's Eurovision Song Contest.

Action from Malmo and last night's Eurovision Song Contest.  In pictures: Eurovision Song Contest 2013

Sound & Vision

Video: Talking Shehhi – a dialect from RAK's mountain tribes

Video: Talking Shehhi – a dialect from RAK's mountain tribes(Video)

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Video: Tracing UAE families through genealogy

Video: tracing UAE families through genealogy(Video)

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In pictures: Swarovski studded tub

The Swarovski Crystal Saracen bath from Catchpole & Rye.(Photos)

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In pictures: Maldives a piece of heaven on earth

Maldives a piece of heaven on earth(Photos)

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In pictures: Sir Bu Nair Island

Sir Bu Nair Island in charge of Sharjah government. One of the UAE’s untouched, natural islands is to be partially developed under new plans by Sharjah to promote eco-tourism.(Photos)

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