UAE Banks News – Services, Offers & Financial Updates

Why is UAE moving away from SMS and email OTPs?

Your next OTP won’t come by SMS - UAE banks make security safer, say finance experts

5m read

Banks across the UAE are gradually replacing one-time passwords sent by SMS and email with app-based authentication to reduce fraud risks, improve login security, and give users more control over their digital banking.

Which countries no longer use SMS OTPs?

UAE joins other countries in phasing out SMS and email OTPs - here’s a list

From the UAE to Singapore, countries are ditching SMS OTPs for safer login options like biometrics and app tokens. Find out who’s making the switch.

Dubai bank sees income gain in H1-25 - but profit drops

Emirates NBD confirms solid loan growth, but expenses have shot up

Emirates NBD continues to make solid gains on its overseas banking operations.

UAE banks to end OTPs on SMS and email from July 25

Banks to start app-based verification July 25; SMS OTPs phased out by March 2026

New rule kicks in from July 25 for all electronic and financial transactions

UAE goes digital: Wio hits $1b investment mark

ADQ-backed platform hits milestone in under two years, with $4 billion in order volume YTD

Wio Bank: Digital-first UAE investors surge as investments cross $1 billion

Abu Dhabi bank scores Dh10b in H1-profit for first time

UAE banking sector set for one of its best first-half showings ever

All signs are pointing higher for FAB. Clearing the Dh10 billion mark in H1-2025 net profit sure suggests that.

UAE Central Bank creates new AI support company

New entity to offer AI-powered solutions for UAE's critical financial infrastructure

Presight is among the handful of UAE technology companies that have gone for stock market listings. The venture with UAE Central Bank represents a major milestone for the Abu Dhabi company.

Dubai Court bans late payment charges by Islamic banks

Matter referred to the General Assembly of the Court of Cassation for a unified ruling

Illustrative image.

Will 'Dubai First Home' see banks cut mortgage rates?

With mortgage rates set to drop, first-time buyers will still get sizable savings

The new 'Dubai First Home' initiative targets a new pool of potential property investors in the local property market.

Sharjah Islamic Bank sees 25% spike in H1 profit

Strong H1 results driven by financing growth, lower impairments, fee income surge

Sharjah Islamic Bank HQ

CBUAE revokes license of Al Khazna insurance company

The company did complied with the licensing terms and conditions set by CBUAE

The revocation follows CBUAE examinations that found Al Khazna failed to meet Insurance Law and regulatory requirements during its licence suspension.

Why UAE’s removal from EU high-risk AML list matters

Dh350m in AML fines highlight UAE’s crackdown as Europe opens financial channels

Flags of European Union's countries fly in front of Louise Weiss building (R), headquarters of the European Parliament in Strasbourg, eastern France, in Strasbourg.

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