UAE Central Bank News – Policies, Economy & Monetary Updates

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UAE CENTRAL BANK

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.

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

CBUAE unveils coins celebrating UAE founders' legacy

CBUAE unveils coins celebrating UAE founders' legacy

UAE Central Bank issues gold, silver coins honouring Zayed and Rashid

Torn banknotes? UAE Central Bank explains compensation

New guidelines explain how to claim full or partial compensation for damaged currency

Compensation from the CBUAE will only be granted after the damaged banknote is verified as authentic.

CBUAE fines exchange house Dh3.5 million for violation

The unnamed exchange house was fined for violating money laundering rules

The financial sanction is based on the results of the findings of examinations conducted by the CBUAE, which revealed significant failures.

Why US Fed used “wait”, “uncertain” 25 times last night

Interest rates stayed steady, but the Fed chair’s words post-decision struck caution

Television stations broadcast Jerome Powell, chairman of the US Federal Reserve, speaking after a Federal Open Market Committee (FOMC) meeting on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, May 7, 2025. Federal Reserve officials held interest rates steady for a third-straight meeting and emphasized they see a growing risk of higher inflation.

UAE Central Bank revokes license of Dubai broker

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

The latest enforcement measures signal a shift towards stricter regulatory oversight in the UAE’s insurance sector.

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