News

Policy & Legal Updates

AI Can Boost Arab Tax Collection if Supported by Strong Governance, AMF Reports

The Arab Monetary Fund stated that artificial intelligence can assist Arab governments in improving tax collection and strengthening public finances, provided robust governance frameworks are in place. The assessment was presented in Abu Dhabi during the 17th Ordinary Session of the Council of Arab Finance Ministers alongside the fund's Golden Jubilee. Regional finance leaders examined fiscal policies, AI integration in revenue administration, and resilience to geopolitical volatility.

Policy & Legal Updates

AMF Marks 50th Anniversary With Over $11.8bn In Financing Across Arab States

The Arab Monetary Fund celebrated its 50th anniversary in Abu Dhabi, having provided more than $11.8 billion in financing to member states since 1976. During the event, UAE officials reaffirmed the country's commitment to international tax standards, including the application of a domestic minimum top-up tax from 2025, and announced plans to convert 50 percent of federal services to agentic AI models within two years.

Industry News

Ras Al Khaimah and Skyports Sign Binding Deal for 2027 Air Mobility Network

Ras Al Khaimah Transport Authority and Skyports Infrastructure have signed a binding Definitive Agreement to build and operate a four-vertiport Advanced Air Mobility network. The first phase will connect Al Marjan Island and Jebel Jais, targeting commercial launch in the third quarter of 2027. Future expansion plans include two additional vertiports and an inter-emirate connection to Dubai.

China–UAE News

Mastercard Targets Processing Nearly All UAE Debit Payments Under Sovereign Scheme

Mastercard Chief Financial Officer Ling Hai stated that the company expects to process nearly 100% of UAE debit transactions once its partnership with Al Etihad Payments is fully implemented. The project positions Mastercard as the underlying switching and processing technology provider for the UAE's national card switch and domestic Jaywan scheme. Concurrently, China's UnionPay International is expanding its own partnership with Al Etihad Payments to accept Jaywan cards across its network.