Blog

Cryptocurrency in the UAE: Shariah Compliance and Legal Status Explained Cryptocurrency has gained massive popularity worldwide, but in the UAE, questions arise regarding its legality and compliance with Islamic financial principles. With Bitcoin and other digital currencies becoming mainstream, many wonder whether investing in cryptocurrency is permissible under Shariah law and legal under UAE regulations. […]

Mastercard Crypto Credential – Mastercard has launched its groundbreaking Crypto Credential solution in the UAE and Kazakhstan, marking its entry into the Eastern Europe, Middle East, and Africa (EEMEA) region. This innovation aims to streamline the crypto experience for users, offering simplified, secure transactions that enhance trust and accessibility in the digital asset ecosystem. A

Cryptocurrency Revolution : The UAE is cementing its position as a global leader in cryptocurrency adoption with a series of innovative developments that integrate crypto into everyday financial activities. The latest advancement is the ability for residents to deposit and withdraw UAE dirhams against cryptocurrencies they hold. This move highlights the nation’s commitment to facilitating

The UAE presents an optimistic outlook for cryptocurrency investment in 2025, driven by its unique combination of tax advantages, progressive regulation, and increasing institutional adoption. Here are the key reasons why UAE investors should remain bullish on the crypto market this year: 1. Tax-Free Gains on Cryptocurrency The absence of taxes on cryptocurrency gains in

Top Industries in the UAE : The UAE has established itself as a hub of economic activity, with its economy expected to grow by 4% in 2024. This growth is largely fueled by non-oil sectors such as real estate, construction, tourism, financial services, and wholesale trade. Several factors contribute to this robust expansion, including increased

Dubai to Reinstate 30% Alcohol Sales Tax. The Dubai government has announced the reintroduction of a 30% alcohol sales tax, which will take effect on January 1, 2025. This development was communicated to restaurants and bars through an email from African + Eastern, a major alcohol retailer in the region. The email confirmed, “Dubai Government

Substance Regulations (ESR): Key Changes for Businesses-The UAE Government has introduced a pivotal update to the Economic Substance Regulations (ESR) through Cabinet Decision No. 98 of 2024,The UAE Government has introduced a pivotal update to the Economic Substance Regulations (ESR) through Cabinet Decision No. 98 of 2024, issued on 2 October 2024. This decision significantly

UAE Approves Record Dh71.5 Billion Federal Budget : The United Arab Emirates (UAE) has achieved a historic milestone with the approval of its largest-ever federal budget, amounting to Dh71.5 billion for the year 2025. This remarkable budget reflects the UAE’s growing economic strength, the sustainability of its financial resources, and the government’s commitment to ensuring

Cancellation of ESR Requirements in the UAE : In a significant move aimed at enhancing its appeal as a global business hub, the UAE has officially cancelled the requirements for Economic Substance Reports (ESR). The announcement, made in accordance with Decision No. 98 of 2024, brings an end to the obligation for companies to submit