Latest news with #ADGM
Finextra
9 hours ago
- Business
- Finextra
Tabadulat receives in-principle approval from ADGM regulator
Tabadulat Limited (Tabadulat), a UAE-based Shariah-compliant investing platform registered with ADGM, the international financial centre of the UAE Capital Abu Dhabi, has received In-Principle Approval from ADGM's Financial Services Regulatory Authority (FSRA). 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The announcement follows the UAE cabinet's approval of its National Strategy for Islamic Finance and Halal Industry on 6 May. Under the plan, the UAE seeks to build a globally competitive national Islamic finance sector, facilitate its activities, and drive leadership in sustainable finance. Tabadulat, which is in the process of obtaining its Financial Services Permission, subject to FSRA's approval, has a committed investment of US$2.3 million. For years, Muslim investors have faced limited options when seeking truly halal investment opportunities in global markets, often relying on separate and expensive screening tools or niche local brokers. Through its advanced halal stock screener, Tabadulat will ensure that every transaction adheres to Islamic finance principles, filling a longstanding gap in halal investing. 'Tabadulat will not just be a trading platform but will be a movement. We will empower Muslim investors to invest globally without compromising their faith. Tabadulat will offer its clients control, transparency, and compliance in one seamless platform,' said Samy Mohamad, Co-founder of Tabadulat. Key features include: Global Market Access: Users will be able to invest in a wide range of international halal stocks across the US, Europe, GCC, Asia, and beyond. Advanced Halal Stock Screener: Every stock and ETF listed will be screened daily for Shariah compliance, allowing Muslim investors to instantly identify halal investments without relying on an external paid service. Ultra-low and Transparent Fees: Low transaction fees (starting at just 0.25%) with no hidden costs and absolutely no Riba, ensuring halal and cost-effective trades for retail investors. Advanced Portfolio Analytics: Cutting-edge tools, including a comprehensive Shariah report, at no additional cost. Built-in Zakat Calculator: Helping investors fulfill their religious obligations easily and accountant-free. With the global Islamic finance market estimated to reach US$7.5 trillion by 2028, Tabadulat's entry will come at a time of rising demand for accessible halal investing solutions. The company will adhere to the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards, the global benchmark in Islamic finance, and will be an Islamic financial business. 'Muslim investors may soon be able to trade halal stocks with peace of mind, knowing that every asset they invest in will be to the highest standards of Islamic finance,' says Ali Abdulkadir Ali, Co-founder of Tabadulat.
Al Etihad
10 hours ago
- Business
- Al Etihad
ADGM's FSRA issues cyber risk management framework
29 July 2025 16:58 ABU DHABI (WAM)The Financial Services Regulatory Authority (FSRA) of ADGM today announced the implementation of amendments to its regulatory framework for Authorised Persons and Recognised Bodies in relation to cyber risk management. Compliance with the amendments will be required from 31st January implementation follows extensive industry engagement and feedback received on Consultation Paper No. 3 of amendments require firms to integrate cyber risk management into their existing risk frameworks and build upon the FSRA's Information Technology Risk Management Guidance and Governance Principles and Practices to Mitigate Cyber Threats and received during the consultation period supported the amendments as a natural evolution of the FSRA's regulatory framework in this dynamic risk area. In response to this feedback, the FSRA has enhanced the proposed amendments by providing firms with a six-month period to ensure compliance, clarifying the principles of proportionality and integration of cyber risk management frameworks, and adapting requirements for arrangements with IT service FSRA has also revised its guidance to assist firms in assessing the materiality of cyber incidents and is planning to update its cyber incident notification template before the end of the year. Emmanuel Givanakis, Chief Executive Officer of ADGM's FSRA, said, 'These amendments reflect the FSRA's ongoing commitment to operational resilience and cybersecurity. By continuing to integrate global best practices into our framework, we safeguard the integrity of the financial services industry in ADGM. These recent developments demonstrate our ongoing dedication to responsible innovation and further position ADGM as a leading jurisdiction for secure and forward-looking financial activity.'
Zawya
11 hours ago
- Business
- Zawya
ADGM's FSRA issues cyber risk management framework
Amendments include integration of cyber risk management into existing risk management frameworks. A six-month transition period is provided to facilitate compliance. Abu Dhabi, UAE: The Financial Services Regulatory Authority (FSRA) of ADGM today announced the implementation of amendments to its regulatory framework for Authorised Persons and Recognised Bodies in relation to cyber risk management. Compliance with the amendments will be required from 31 January 2026. The implementation follows extensive industry engagement and feedback received on Consultation Paper No. 3 of 2025. The amendments require firms to integrate cyber risk management into their existing risk frameworks and build upon the FSRA's Information Technology Risk Management Guidance and Governance Principles and Practices to Mitigate Cyber Threats and Crime. Feedback received during the consultation period supported the amendments as a natural evolution of the FSRA's regulatory framework in this dynamic risk area. In response to this feedback, the FSRA has enhanced the proposed amendments by providing firms with a six-month period to ensure compliance, clarifying the principles of proportionality and integration of cyber risk management frameworks, and adapting requirements for arrangements with IT service providers. The FSRA has also revised its guidance to assist firms in assessing the materiality of cyber incidents and is planning to update its cyber incident notification template before the end of the year. Emmanuel Givanakis, Chief Executive Officer of ADGM's FSRA, said, 'These amendments reflect the FSRA's ongoing commitment to operational resilience and cybersecurity. By continuing to integrate global best practices into our framework, we safeguard the integrity of the financial services industry in ADGM. These recent developments demonstrate our ongoing dedication to responsible innovation and further position ADGM as a leading jurisdiction for secure and forward-looking financial activity.' The FSRA acknowledges the constructive and well-received feedback provided in response to the Consultation Paper. To view the amended legislation, click here: FSRA Rules (Cyber Risk Management) | Rulebook About ADGM ADGM, which opened on 21 October 2015, is the international financial centre (IFC) of the capital city of the United Arab Emirates. ADGM is contributing significantly to Abu Dhabi's position as a leading financial centre and a business hub, serving as a strategic link between the growing economies of the Middle East, Africa, South Asia, and the rest of the world. Operating within a regulatory framework based on the direct application of English Common Law, ADGM governs the entirety of Al Maryah Island and Al Reem Island, collectively designated as the financial free zone of Abu Dhabi. ADGM is a top-ranking IFC in the Middle East and Africa region. Its progressive and inclusive business ecosystem fosters growth, resilience, and optimism for global financial and non-financial institutions. Growing synergies between ADGM and other jurisdictions have positioned it as one of the world's most advanced, diverse, and progressively governed financial hubs. For more details on ADGM, please visit or follow us on LinkedIn and Instagram: @ADGM X: @adglobalmarket For media queries, please contact: E: media@
Web Release
11 hours ago
- Business
- Web Release
MERED expands UAE operations with new strategic office on Al Reem Island
MERED , the award-winning international real estate developer, has responded to rising investor interest in its Abu Dhabi operations with a newly opened office at Sky Tower, Al Reem Island. The new location will serve as a hub to support the expansion of its local workforce in the capital and facilitate the successful delivery of key real estate projects currently underway. Among MERED's planned contributions to Abu Dhabi's skyline is a design-led waterfront project on two adjacent prime plots totaling over 23,400 square meters on Reem Island, part of the key financial hub Abu Dhabi Global Market (ADGM). The highly anticipated project is a collaboration with Pritzker Prize-winning architects, the highest global honor in architecture, and is set to become a new benchmark for super-prime living in Abu Dhabi. Michael Belton, CEO at MERED, commented: 'Abu Dhabi is entering a defining phase in its growth as a global real estate destination. The city saw a 35% rise in real estate transaction value in Q1 2025 alone, reflecting strong investor confidence and a deepening appetite for premium development. Establishing our base here is a strategic step as we scale across the region, developing meaningful projects that contribute to the city's future.' Artemiy Marinin, Project Director at MERED, added: 'Our expertly assembled team of designers, architects, engineers, contractors and specialists is fully equipped to meet Abu Dhabi's growing demand for high-quality, future-ready developments. We are deeply confident in the capital's potential—especially on Reem Island, which we view as a strong platform for sustainable, long-term growth.' Abu Dhabi's global appeal continues to grow, supported by its affluent population and a regulatory environment that fosters transparency and investor confidence. The city's real estate market is thriving, with transactions reaching AED 25 billion in the first quarter of this year, a significant increase from AED 19 billion during the same period in 2024, according to data from the Abu Dhabi Real Estate Centre. This robust performance highlights the strength of premium property investments in the capital. Al Reem Island, the location of MERED's new offices, is becoming one of Abu Dhabi's most dynamic mixed-use destinations. Positioned close to Reem Central Park, Galleria Mall, and the Louvre Abu Dhabi, the area offers waterfront views, lifestyle amenities, and modern infrastructure that supports the city's vision for sustainable, connected communities.
Fintech News ME
13 hours ago
- Business
- Fintech News ME
Shariah-Compliant Investment Platform Tabadulat Gains In-Principle Approval from ADGM
Tabadulat Limited (Tabadulat), a Shariah-compliant investing platform based in the UAE and registered with ADGM, has received In-Principle Approval from ADGM's Financial Services Regulatory Authority (FSRA). This development comes shortly after the UAE Cabinet approved the country's National Strategy for Islamic Finance and the Halal Industry on May 6. The strategy aims to strengthen the UAE's position in Islamic finance, promote sector-wide activity, and support leadership in sustainable finance. Tabadulat, which is currently in the process of obtaining its Financial Services Permission, has secured a committed investment of US$2.3 million. The platform seeks to address longstanding challenges faced by Muslim investors who have traditionally had limited access to global halal investment options and often relied on costly third-party screening tools or regional brokers. According to Samy Mohamad, Co-founder of Tabadulat, 'Tabadulat will not just be a trading platform but will be a movement. We will empower Muslim investors to invest globally without compromising their faith. Tabadulat will offer its clients control, transparency, and compliance in one seamless platform.' The platform intends to provide access to international halal stocks across the US, Europe, the GCC, Asia and other regions. It will feature a halal stock screening mechanism that monitors every listed stock and ETF for Shariah compliance on a daily basis, aiming to simplify investment decision-making for Muslim investors. Fees will start at 0.25% per transaction, with no hidden charges and no involvement of Riba, in keeping with Islamic financial principles. Users will also have access to analytical tools, including a detailed Shariah compliance report, as well as a built-in zakat calculator designed to help fulfil religious obligations without requiring professional accounting assistance. With the global Islamic finance market projected to reach US$7.5 trillion by 2028, Tabadulat's offering arrives amid growing demand for Shariah-compliant investment solutions. The platform will operate in accordance with standards set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
