United Arab Emirates (UAE)
People: Saudi governor elected to BIS board
Plus senior appointments in Asia, the Middle East and Europe
Central bankers reflect on wins and challenges of mBridge
Multi-CBDC project’s transaction value has grown, but regulatory and operational issues remain
BIS aims for open data across borders with Project Aperta
Innovation Hub’s latest project seeks to link up national open-finance schemes
Turkey’s economic odyssey: inflation, lira decline and strategic shifts
Marcello Minenna delves into the damage of 20 years of ‘Erdoganomics’
Egyptian MPC raises rates and devalues currency
Moves after UAE's $35 billion investment make IMF deal more likely
Dubai creates new sovereign wealth fund
Dubai World “will be affiliated” to new investment arm
Canada introduces first Charles III coins
Argentina updates 2,000-peso note; ECCB commemorative note honours cricketer; and more
Central Bank of UAE launches new 24/7 instant payments system
Immediate Payment Instructions launched in 2019 gained limited traction
Central banks of UAE and Egypt agree currency swap
Latest currency support move by UAE comes amid mounting pressure on Egyptian pound
The allure of private markets
SWFs have piled into the asset class while reserve managers remain wary, writes Blake Evans-Pritchard
UAE launches ‘t-sukuk’ to support monetary policy
Central bank continues to implement its new dirham monetary framework
Currency round-up: De La Rue issues profit warning
Central African central bank to release new coins; and more
Kuwait breaks pattern by holding rates after Fed hike
Five other Gulf states, including Saudi Arabia and UAE, raised policy rates to match Fed
BIS and central banks say multi-CBDC platform trial was a success
Central banks of China, Hong Kong, Thailand and UAE took part in US$22 million cross-border trial
UAE central bank issues guidance on politically exposed persons
Measures build on AML/CFT requirements following FATF greylisting in March
Gulf central banks increase rates in line with Fed
Five banks raise rates 75bp, while Kuwait orders 25bp increase due to different currency peg
Gulf central banks raise rates after Fed hike
Qatar, UAE and Bahrain make 75bp hikes, while Kuwait raises by 25bp and Saudi 50bp
Saudi Arabia deposits $5 billion in Egypt’s central bank
Egypt agrees investment from Qatar and UAE, and seeks funding from IMF as wheat prices rise
Reserve manager: Central Bank of the UAE
The Middle Eastern institution approved a new investment policy, allowing it to diversify into new asset classes and, for the first time, allocate part of its portfolio to external managers
Abu Dhabi wealth fund to “pause” Russia investments
Mubadala CEO calls Ukraine war “a travesty”, but fund has small Russia exposure
Payment services: CMA
The Swedish payments firm is well known as a provider of core infrastructure for central banks, and is now a key player in a new payment system linking the Arab world and beyond