UAE’s Central Bank Issues New Regulation for Specialized Banks

The Central Bank of the UAE (CBUAE) issues a new regulation concerning specialized banks. (Asharq Al-Awsat)
The Central Bank of the UAE (CBUAE) issues a new regulation concerning specialized banks. (Asharq Al-Awsat)
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UAE’s Central Bank Issues New Regulation for Specialized Banks

The Central Bank of the UAE (CBUAE) issues a new regulation concerning specialized banks. (Asharq Al-Awsat)
The Central Bank of the UAE (CBUAE) issues a new regulation concerning specialized banks. (Asharq Al-Awsat)

The Central Bank of the UAE (CBUAE) has issued a new regulation covering licensing, prudential and conduct requirements for specialized banks.

The objective of the new regulation is to provide a regulatory framework in which specialized banks can operate in the UAE financial sector in a "robust and prudent manner,” the CBUAE said in a statement.

Specialized banks are allowed to conduct their activities in the UAE Dirhams only and operate according to a low credit risk model, said the statement.

They can be established either as a conventional specialized bank without Sharia-compliant offerings, or as a specialized Islamic lender, the regulator said.

Banks are licensed under the CBUAE’s new regulation and are allowed to practice different financial activities to serve the local community, such as account opening, card issuance, and retail and wholesale lending.

They are permitted to provide services to UAE nationals and UAE residents only.

The regulation sets a minimum paid-up capital requirement of AED300 million (USD81.6 million) that specialized banks must maintain and a risk-based capital adequacy requirement that they should continuously adhere to, the banking regulator said Saturday.

It also sets the total consolidated assets of specialized banks at a maximum of AED25 billion (USD6.8 billion).

"The CBUAE stresses the importance of specialized banks’ compliance with all regulations, standards and notices issued for the banking sector, except where there are specific provisions contained in the new regulation which apply to specialized banks only," the central bank said.



Saudi Arabia Assumes WTO General Council Presidency for 2025–2026

The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
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Saudi Arabia Assumes WTO General Council Presidency for 2025–2026

The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)

The General Council of the World Trade Organization (WTO) has unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. In a historic milestone, Al-Moqbel becomes the first Arab and Middle Eastern delegate to assume this position, reported the Saudi Press Agency on Wednesday.

The WTO General Council, which convenes throughout the year, oversees the organization’s operations between ministerial conferences, held biennially. As the highest decision-making body at the level of heads of missions, the council plays a crucial role in shaping global trade policies.

During Saudi Arabia's presidency, the General Council is set to address several key issues, including preparations for the 14th Ministerial Conference, scheduled to be held in Cameroon in March 2026.

The agenda will also focus on essential WTO reforms, particularly the dispute settlement mechanism; advancing negotiations on the second phase of the Fisheries Subsidy Agreement; and addressing agriculture, food security, and development concerns.

Other priorities include integrating multilateral agreements, such as the Investment Facilitation for Development Agreement and the E-Commerce Agreement, into the WTO framework.

Commenting on the appointment, Al-Moqbel emphasized that Saudi Arabia’s leadership in the WTO General Council reflects its growing role in the international economic landscape, leveraging its global economic influence to strengthen multilateral trade cooperation.