Ras Al Khaimah Economic Zone (RAKEZ) has officially signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB), marking a strategic step to simplify banking for investors and accelerate business growth across the UAE. The partnership enables RAKEZ clients, including startups and SMEs, to open business bank accounts seamlessly while accessing tailored Sharia-compliant…
Sharjah Islamic Bank (SIB) has officially launched its “Millionaire Draw” campaign, starting July 1, 2025, to encourage sustainable saving habits across the UAE. The initiative offers generous monthly and seasonal prizes, including cash rewards up to AED 20 million and BMW luxury cars, to both new and existing savings account holders. Key Facts Campaign Start…
UAE residents facing visa cancellation can breathe a sigh of relief regarding their banking needs. Legal experts have clarified that the cancellation of a residency visa does not automatically freeze or close a resident’s bank account, as long as the account remains active and the customer maintains regular communication with the bank. Ashish Mehta, founder…
The Central Bank of the United Arab Emirates (CBUAE) has officially introduced a new symbol for the national currency, the Dirham, in both physical and digital formats. The initiative is aligned with the UAE’s broader digital economy vision and coincides with the country’s recent adoption of the FX Global Code, making it the first central…
In a significant move towards enhancing the UAE’s financial ecosystem, Al Etihad Payments, a subsidiary of the Central Bank of the UAE (CBUAE), has announced a strategic partnership with Visa. The collaboration introduces Jaywan-Visa debit and prepaid cards, reinforcing the nation’s commitment to digital transformation and financial accessibility. Revolutionizing Payment Systems in the UAE The…
Small and medium-sized enterprises (SMEs) are increasingly expanding into global markets, yet cross-border transactions pose significant challenges, including high costs, compliance complexities, and security risks. Fintech innovations like WorldFirst are transforming international business by streamlining payments and offering secure, cost-effective digital financial solutions. Simplifying International Payments for SMEs WorldFirst, a leading cross-border payment service provider,…