The Central Bank of the UAE (CBUAE) has announced a groundbreaking initiative, Project Aperta, aimed at linking open finance infrastructures across various jurisdictions. The project, in collaboration with leading international financial authorities, seeks to create a trusted network that enhances cross-border interoperability for financial institutions and businesses, specifically focusing on facilitating trade finance for small […]
The cumulative balance of financial facilities and loans extended by banks operating in the UAE to small and medium-sized enterprises (SMEs) reached AED 81.2 billion by the end of the first half of 2024, according to the latest data released by the Central Bank of the UAE (CBUAE). This represents 9.5 percent of the total […]
Abu Dhabi, October 2024 — AED Stablecoin LLC has received in-principle approval from the Central Bank of the UAE to issue the country’s first AED-backed stablecoin, AE Coin, under the newly established “Payment Token Services Regulation” (Circular No. 2/2024, dated 7 June 2024). This milestone positions AED Stablecoin as the first entity in the UAE […]