The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 4.40%. This decision was taken following the US Federal Reserve’s announcement today to keep the Interest Rate on Reserve Balances (IORB) unchanged. The CBUAE has also decided to maintain the interest rate applicable
The Muslim Council of Elders, under the chairmanship of His Eminence Professor Dr. Ahmed Al-Tayeb, Grand Imam of Al-Azhar, affirmed that Zayed Humanitarian Day represents a celebration of the highest values of giving, tolerance, and human fraternity. It draws inspiration from the legacy of the late Sheikh Zayed bin Sultan Al Nahyan, whose life was
His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security Adviser, met today with President Donald Trump of the United States of America during a dinner banquet held in his honour at the White House, in the presence of senior US officials. At the beginning of the meeting, His
Ras Al Khaimah Economic Zone (RAKEZ) has been honoured at the Annual Asian Arab Awards 2025 for its remarkable growth, innovation, and global impact. Presented by the Asian Arab Chamber of Commerce (AACC), the award recognises RAKEZ as the fastest-growing economic zone in the UAE, reinforcing its position as a leading business hub that continues
Ras Al Khaimah’s (RAK) real estate market is poised for significant growth and price appreciation, driven by surging demand and a housing shortage in the next few years, according to Metropolitan Premium Properties (MPP), a full-service real estate agency and part of the Metropolitan Group. Despite the launch of new projects on Marjan Island, the
The growing commitment to financial security among UAE residents has fueled the success of structured savings schemes, with National Bonds leading the way. Positive saving sentiments—driven by trust, financial aspirations, and digital accessibility—have played a crucial role in this momentum. Customers are increasingly viewing savings as a path to empowerment rather than restriction, leading to
The number of employees in UAE banks has exceeded 39,000 for the first time since 2015, according to data from the Central Bank of the United Arab Emirates (CBUAE). The Monthly Statistical Bulletin – Banking and Monetary Statistics – December 2024, released today, showed that as of the end of 2024, the total number of
