Latest news with #AED7
ARN News Center
3 days ago
- Business
- ARN News Center
Two foreign bank branches fined AED 18 million for regulatory breaches
The Central Bank of the UAE has issued major financial penalties against two foreign bank branches operating in the country. The first bank was fined AED 10.6 million, while the second faces a penalty of AED 7.5 million. This comes after examinations by the Central Bank uncovered violations of anti-money laundering laws and failures to comply with regulations on combating the financing of terrorism and illegal organisations. The names of the banks involved have not been disclosed by the authority. In a statement, the Central Bank said it remains committed to ensuring that all banks and their employees follow national laws and uphold the highest standards of transparency, compliance and financial integrity. The #CentralBankUAE imposed financial sanctions on two branches of foreign banks operating in the UAE, amounting to AED10,600,000 for the first bank and AED7,500,000 for the second bank, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering… — Central Bank of the UAE (@centralbankuae) May 28, 2025
Dubai Eye
3 days ago
- Business
- Dubai Eye
Two foreign bank branches fined AED 18 million for regulatory breaches
The Central Bank of the UAE has issued major financial penalties against two foreign banks operating in the country. The first bank was fined AED 10.6 million, while the second faces a penalty of AED 7.5 million. This come after examinations by the Central Bank uncovered violations of anti-money laundering laws and failures to comply with regulations on combating the financing of terrorism and illegal organisations. The names of the banks involved have not been disclosed by the authority. In a statement, the Central Bank said it remains committed to ensuring that all banks and their employees follow national laws and uphold the highest standards of transparency, compliance and financial integrity. The #CentralBankUAE imposed financial sanctions on two branches of foreign banks operating in the UAE, amounting to AED10,600,000 for the first bank and AED7,500,000 for the second bank, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering… — Central Bank of the UAE (@centralbankuae) May 28, 2025
Gulf Insider
28-04-2025
- Automotive
- Gulf Insider
Dubai Number Plate Fetches $2.27mn at Weekend Auction
A premium number plate sold for AED8.35 million during a public auction in Dubai on Saturday evening. The Roads and Transport Authority (RTA) organised the event, which generated approximately AED100 million in total revenue. The top-selling plate, CC22, commanded the highest price at the auction. The 118th open auction for exclusive vehicle number plates, hosted by #RTA on Saturday evening, April 26, 2025, set a new all-time record, generating about AED 100 million in proceeds, the highest ever achieved in RTA number plate auction the bids was plate (CC…— RTA (@rta_dubai) April 27, 2025 Premium Dubai licence plates generate AED100 million in weekend sale Number plate BB20 achieved the second-highest bid at AED7 million, while BB19 sold for AED6.68 million. The AA707 plate reached a price of AED3.31 million. Another notable sale was AA222, which fetched AED3.3 million. Participants were required to provide a security cheque deposit of AED25,000 to enter the bidding process. '[The auction] set a new all-time record, generating about AED 100 million in proceeds, the highest ever achieved in RTA number plate auction history,' RTA said via X. This latest auction follows the trend of premium number plates commanding multi-million dirham prices in the emirate, reflecting their status as investment assets for many buyers. Last month, Dubai real estate Roads and Transport AuthorityMuhammad Binghatti paid AED35 million for a DD number plate. Also read: Saudi Arabia, Qatar Clear Syria's $15mn World Bank Debt: Report Source Arabian Business
Arabian Business
27-04-2025
- Automotive
- Arabian Business
Dubai number plate fetches $2.27mn at weekend auction
A premium number plate sold for AED8.35 million during a public auction in Dubai on Saturday evening. The Roads and Transport Authority (RTA) organised the event, which generated approximately AED100 million in total revenue. The top-selling plate, CC22, commanded the highest price at the auction. The 118th open auction for exclusive vehicle number plates, hosted by #RTA on Saturday evening, April 26, 2025, set a new all-time record, generating about AED 100 million in proceeds, the highest ever achieved in RTA number plate auction history. Topping the bids was plate (CC… — RTA (@rta_dubai) April 27, 2025 Premium Dubai licence plates generate AED100 million in weekend sale Number plate BB20 achieved the second-highest bid at AED7 million, while BB19 sold for AED6.68 million. The AA707 plate reached a price of AED3.31 million. Another notable sale was AA222, which fetched AED3.3 million. Participants were required to provide a security cheque deposit of AED25,000 to enter the bidding process. '[The auction] set a new all-time record, generating about AED 100 million in proceeds, the highest ever achieved in RTA number plate auction history,' RTA said via X. This latest auction follows the trend of premium number plates commanding multi-million dirham prices in the emirate, reflecting their status as investment assets for many buyers. Last month, Dubai real estate Roads and Transport Authority
Trade Arabia
08-04-2025
- Business
- Trade Arabia
Unique Properties closes landmark plot sale on Jumeirah Bay
Unique Properties, a major player in Dubai's ultra-luxury real estate market, said it has successfully closed yet another record-breaking transaction - a landmark AED182 million ($50 million) residential land sale on Jumeirah Bay Island. The prime land plot, spanning 25,441 sq ft, was sold at AED7,154 per sq ft, with the deal expertly facilitated by Vanessa Sevsky, adding to Unique Properties' extensive portfolio of high-profile transactions. Jumeirah Bay Island, also known as Billionaire Island, is an exclusive residential community off the coast of Jumeirah. Located near the prestigious Jumeirah neighbourhood, it features a curated collection of luxury waterfront properties. Developed by Meraas Holding, the island is connected to the mainland by a 300-m bridge and features some of the city's most sought-after plots. Spanning 6.3 million sq ft in the shape of a seahorse, the island is home to a mix of low-rise residences, luxury villas, a boutique resort, a world-class marina, and the prestigious five-star Bvlgari Hotel. The buyer, an ultra-high-net-worth individual, plans to build a custom home on the prestigious island. This sale is a testament to the firm's ability to navigate Dubai's cut-throat real estate market and secure premium opportunities for discerning investors. This achievement highlights Unique Properties' unwavering expertise and proven track record in securing premium assets for high-net-worth clients. On the transaction, Founder and CEO Arash Jalili said: "Securing a plot on Jumeirah Bay Island is a significant achievement, given its status as one of Dubai's most exclusive real estate locations. This deal was the result of months of strategic negotiations and planning to pinpoint the ideal opportunity." "In the end, we successfully acquired an outstanding plot for our client. This sale highlights our steadfast dedication to providing top-tier investment opportunities in Dubai's ever-evolving real estate market," he added. The buyer of the plot, he stated, was planning to develop a private residence, reflecting a growing trend among UHNWIs to build custom homes tailored to their preferences.
