Browsing: compliance

Banking

Consumer Confidence in UAE Banking Rises to 90%

H.E. Abdulaziz Al-Ghurair, Chairman of UAE Banks Federation (UBF), the sole representative and unified voice of the UAE banks, said that the increase in consumer confidence in the UAE banking sector from 84% in 2022 to 90% in 2023 reflects its continuous development, as customer trust is an important pillar in banking and finance. He explained that the UAE ranks above the global average in the Trust Index and ranks higher than prominent international financial centres, which confirms the banking sector’s ability to meet the requirements of diverse customer segments.

Business

Burjeel Holdings Aims for Carbon Neutrality by 2040

Burjeel Holdings has unveiled an extensive Environmental, Social, and Governance (ESG) strategy, outlining ambitious goals across four key areas, demonstrating a strong commitment to sustainable practices. Central to this strategy is the pledge to achieve carbon neutrality by 2040, indicating a significant shift towards a greener and more equitable future.

Business

UAE’s Ramadan Fundraising Laws: $54,000 Fine for Violations

The UAE has outlined regulations for fundraising ahead of Ramadan, imposing fines of up to $54,000 for infringements. The Ministry of Community Development clarified that authorised charitable associations complying with Federal Law No. 3 of 2021 are permitted to collect donations within the country. The law aims to protect donor funds from exploitation and ensure they reach the intended recipients.