The United Arab Emirates is gradually transforming into a major global financial hub. That’s quite remarkable for a country that came into being just 50+ years ago. The UAE banking system under the broad financial sector is playing a major part in this economic evolution.
Presently, all Emirati nationals whether they are business owners or are common citizens, require proper guidance on managing financial transactions. Similarly, expatriate entrepreneurs need insights to make the most of the productive investment opportunities in the UAE. Also, compliance with anti-money laundering (AML) laws in the UAE and abroad is the need of the day.
This guide provides expert insights from a professional legal team. Currently, these law consultants are empowering business owners to make informed decisions in the UAE. Accordingly, these legal financial advisors help you to establish a strong foundation for your corporate success in Dubai.
Major banking and financial regulators in the UAE
These financial regulatory authorities oversee the banking and finance operations in the United Arab Emirates.
- Central Bank of the UAE (CBUAE): It supervises all financial institutions, including commercial banks and investment banks.
- Securities and Commodities Authority (SCA): It regulates securities and commodities trading markets, enforces laws, prevents market manipulation, and protects investors.
- Dubai Financial Services Authority (DFSA) supervises the monetary activities within the Dubai International Financial Centre (DIFC). DFSA ensures operational transparency, financial stability, and consumer protection.
- Financial Services Regulatory Authority (FSRA): It manages the financial services sector within the Abu Dhabi Global Market (ADGM). FSRA is developing and enforcing regulatory frameworks to streamline the fintech, banking, insurance, investments, and lending sectors.
Top banks in the UAE for expatriate investors
Here are the best banks in the UAE for expats that help them efficiently navigate their financial journey.
- Emirates NBD
- Dubai Islamic Bank
- Abu Dhabi Commercial Bank
- First Abu Dhabi Bank
- RAK Bank
- Mashreq Bank
