UAE Exchange Al Ansari Financial Services Surge 17% in Dubai IPO

Al Ansari Financial Services experienced an upswing in the value of its shares after instituting 2023’s first Dubai IPO.  The shares of UAE remittances and money exchange firm Al Ansari Financial Services surged 17% in its initial public offering (IPOIPO) outing at its Dubai Financial Market trading debut. The family-owned company raised $210 million after selling 750 … Read more

India and UAE to Collaborate on Interoperable CBDC

By issuing a CBDC, the UAE hoped to address its cross-border payment challenges and ‘drive innovation for domestic payments’. India and the United Arab Emirates have agreed to collaborate on an interoperable CBDC. This will facilitate cross-border remittances and sales transactions. The collaboration could lead to other such partnerships between countries and spur further adoption … Read more

UAE Announces FIT Programme to Issue CBDC and Forster Digital Payments

The launch of the FIT programme is in line with the UAE’s vision for 2031 to digitize the economy with the full integration of CBDC set for 2026. The Central Bank of the UAE alias CBUAE has announced the launch of its Financial Infrastructure Transformation Programme, FIT, to focus on digital payment services including a … Read more