UAE

The Central Bank of the UAE has approved a Comprehensive Financial Institution Resilience Package to strengthen the stability of the banking and financial sector, a move welcomed by the country's banking federation.

UnionPay International has signed three memorandums of understanding with the Central Bank of the UAE, Al Etihad Payments and Bank of China's Abu Dhabi branch to improve cross-border payment interoperability.

Banks and insurers operating in the UAE have until 16 September 2026 to align with the country's overhauled Central Bank Law, which consolidates banking and insurance regulation and significantly expands the regulator's enforcement powers.

The global Islamic finance industry has surpassed $2.44 trillion in assets, growing about 11.4% across banking, takaful insurance and asset management, with the UAE positioning itself as a leading hub for the sector.

Dubai's Emirates NBD has submitted a revised bid for a controlling stake in India's IDBI Bank, underscoring Gulf lenders' push to expand in fast-growing South Asian markets.

Dubai Islamic Bank raised $1 billion through an additional tier 1 sukuk that drew more than $2.3 billion in orders, pricing at a 6.25% profit rate in the largest such Gulf issuance in about two years.

The Abu Dhabi Securities Exchange has removed daily price limits on exchange-traded funds, a move aimed at expanding investor choice and improving access to a wider range of products in the UAE market.

Payments firm Triple-A has received in-principle approval from Dubai's Virtual Assets Regulatory Authority to offer broker-dealer services, reinforcing the emirate's push to build a regulated digital-asset hub.

UAE's Ajman Bank listed a $300 million Additional Tier 1 perpetual sukuk on Nasdaq Dubai, its first capital securities issuance, drawing strong demand at a 6.50% profit rate.

Gross written insurance premiums in the UAE rose 15.1% year on year in the first quarter of 2026 and the sector remains well capitalised, the Central Bank of the UAE said, even as regional geopolitical risks cloud the outlook.

Sharjah Islamic Bank posted a net profit of about AED803.9 million, up 15.3% year on year, as UAE and Gulf banks are expected to lead regional credit growth in 2026.

The Central Bank of the UAE imposed a Dh1.82 million penalty on a branch of a foreign bank after finding it failed to issue a liability letter within the mandated seven-day window, breaching consumer protection rules.

The Central Bank of the UAE says gross written insurance premiums rose 15.1% year on year in the first quarter of 2026 and the sector remains well capitalised, even as regional geopolitical risks cloud the outlook.

The Central Bank of the UAE reports that gross written insurance premiums rose 15.1% year on year in the first quarter of 2026, while banks maintained a capital adequacy ratio of 16.8% and a low non-performing loan ratio.

The global Islamic finance industry has surpassed $2.44 trillion in assets with growth of about 11.4%, spanning banking, takaful insurance and asset management, as the UAE positions itself as a leading hub for the sector.

Al Wathba Insurance has become the first UAE-based insurer to gain access to the Lloyd's of London market through a protected cell structure, using an insurance-linked securities vehicle.

The Central Bank of the UAE fined a foreign bank branch 1.82 million dirhams for failing to issue a customer liability letter within the mandated seven days, part of a tougher enforcement push under the new Central Bank Law.

The Central Bank of the UAE has fined a foreign bank branch AED 1.82 million for failing to issue a customer liability letter within the required seven-day period, breaching consumer-protection and market-conduct rules.

The Central Bank of the UAE has reviewed the strength of the country's financial system and approved a proactive financial institution resilience package, underpinned by the regulator's assets of around AED 1 trillion.

The Central Bank of the UAE has penalised a branch of a foreign bank Dh1.82 million for failing to issue a liability letter within the required seven days, in breach of its market conduct and consumer protection rules.

The Central Bank of the UAE says it has made significant progress in raising the share of Emirati nationals employed across the banking, financial and insurance sectors, part of a broader workforce-nationalisation drive.

The UAE's insurance sector kept growing in early 2026, with gross written premiums up about 15% year-on-year and the number of policies rising, while capital adequacy strengthened, according to the central bank's latest review.

The Central Bank of the UAE has agreed to work with the World Bank Group to strengthen financial inclusion and financial health, cooperating on financial literacy, digital fraud prevention and dispute resolution.

The Central Bank of the UAE imposed a Dh20 million penalty on a branch of a foreign bank for significant, repeated failures in its anti-money-laundering controls, and fined its compliance chief Dh300,000.

The UAE's new Federal Decree-Law No. 6 of 2025 has consolidated regulatory oversight of both banking and insurance under the Central Bank of the UAE, with a transition period running until September 16, 2026 for firms to fully align. The law dramatically expands the Central Bank's enforcement powers — raising the maximum administrative fine to AED 1 billion — and brings insurtech platforms and technology service providers within its regulatory perimeter for the first time.

Brent crude oil fell to around $72 per barrel on June 26 — its lowest level since late February — as shipping transits through the Strait of Hormuz accelerated following progress toward a US-Iran peace deal. Persian Gulf exports have recovered to roughly 75% of pre-war levels, with Saudi Arabia ramping up loading at Ras Tanura, easing the inflation pressures that had rippled across global insurance, mortgage, and financial markets.

Iran's newly created Persian Gulf Strait Authority (PGSA) is requiring all vessels transiting the Strait of Hormuz to carry Iranian-approved insurance — free for an initial 60 days but with fees explicitly reserved for the future. The move, reported by Lloyd's List and analyzed by Insurance Business on June 22, sidesteps a US-Iran memorandum guaranteeing toll-free passage and raises complex sanctions and underwriting questions, since the PGSA was designated by the US Treasury in May 2026.

A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) has invested in Sapiens International Corporation, becoming a significant minority shareholder in the global insurance software provider. The investment, with undisclosed terms, signals Gulf sovereign wealth capital entering insurance technology at scale and follows Sapiens' 2025 acquisition by private equity firm Advent International.

UAE insurers, banks, and fintech firms face a September 16, 2026, deadline to align with the country's landmark consolidated Central Bank Law (Federal Decree-Law No. 6 of 2025), which came into force in September 2025. The overhaul consolidates banking and insurance regulation under the CBUAE, widens the regulatory perimeter to capture insurtech and digital platforms, and raises the maximum administrative fine fivefold to AED 1 billion.

Even as the US-Iran agreement promises to reopen the Strait of Hormuz, marine insurers warn the crisis is far from over, with war-risk premiums for the region still running as much as 30 times above pre-conflict levels. Premiums that averaged roughly 0.1–0.25% of vessel value before the war surged to between 2.5% and 7.5% at the peak — translating into insurance bills of $3 million to $8 million for a single large tanker transit. Insurers say they need months of sustained stability, plus mine-clearance that could take up to six months, before restoring normal cover.

The UAE health and medical insurance market reached $10.11 billion in 2026 and is forecast to grow to $15.04 billion by 2031 at an 8.26% CAGR, supported by nationwide mandatory coverage and rising claims intensity. Since January 2025, employers across the UAE must fund health insurance for eligible private-sector workers and domestic staff under a basic package priced at AED 320, with coverage linked to visa issuance and renewal. Dubai accounts for 58.75% of the market, while online distribution platforms are the fastest-growing channel.

Even with the US-Iran agreement to reopen the Strait of Hormuz, marine war-risk insurance premiums are expected to remain sharply elevated and shipping costs are unlikely to fall quickly. Industry estimates put war-risk premiums at 3% to 8% of vessel value, up from roughly 0.25% before the conflict, translating into bills of $3 million to $8 million for a single large tanker transit. Insurers say they need months of sustained stability, and that mine-clearance uncertainty, military escort requirements, and thousands of ships still trapped in and around the waterway will keep cover expensive and traffic constrained.

The UAE insurance market is projected to grow to $25.1 billion by 2030, cementing its position as the third-largest in the Gulf region, according to investment-banking advisory firm Alpen Capital. The broader GCC insurance market is forecast to reach $61.8 billion by 2030 at a compound annual growth rate of 4.9%, with non-life remaining dominant and Saudi Arabia growing fastest at 5.9%. Sustained population growth, recovering economic activity, the expansion of mandatory insurance lines, and stronger regulatory oversight are identified as the key drivers of demand across the region.

The GCC insurance market is projected to grow to $61.8 billion by 2030 at a 4.9% CAGR, with the UAE — the region's largest market — expanding to $25.1 billion, according to Alpen Capital's GCC Insurance Industry Report. The growth is driven by population increases, economic recovery, expanding mandatory insurance lines, and stronger regulatory oversight. The expansion coincides with a rare alignment of softening global insurance prices and a UAE economy the IMF expects to grow about 5% in 2026.

The UAE health and medical insurance market is valued at approximately $10.11 billion in 2026 and is projected to grow to $15.04 billion by 2031, at an 8.26% compound annual growth rate, according to market research firm Mordor Intelligence. The expansion is underpinned by a nationwide mandatory employer-funded health insurance requirement for private-sector workers and domestic staff, introduced in January 2025, and by gross medical cost trends projected to escalate 11.3% in 2026 driven by high-cost cancer and cardiovascular treatments.