Policy update

Policy & Legal Updates

FinCEN Proposes Rule Revoking Banque Misr UAE Correspondent Banking Access

The U.S. Financial Crimes Enforcement Network has issued a proposed rule to designate Banque Misr UAE as a primary money laundering concern under Section 311 of the USA PATRIOT Act. The proposal seeks to sever the bank's U.S. correspondent banking access in connection with Treasury's Operation Economic Outcast targeting Iranian illicit finance networks. Public comments on the proposed rulemaking remain open until October 1, 2026.

Policy & Legal Updates

UAE Warns Against AI Images of National Symbols and Public Figures Without Approval

The UAE's National Media Authority has warned that generating images or videos of national symbols or public figures using artificial intelligence without prior official approval violates media content standards. The authority stated that the advisory aligns with regulations requiring respect for the state's governance system, institutions, and national identity. The notice comes as generative AI tools increasingly produce realistic media from simple text prompts, raising risks of misinformation.

Policy & Legal Updates

Dubai Ruler Issues Decree Forming Investment Corporation of Dubai Board

Sheikh Mohammed bin Rashid Al Maktoum has issued a decree establishing the board of directors of the Investment Corporation of Dubai. Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum was named Chairman, with First Deputy Ruler Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum serving as Vice Chairman. The decree took effect on its issuance date and will be published in the Official Gazette.

Policy & Legal Updates

Ajman Municipality Launches Pilot to Regulate Bachelor and Shared Housing

The Ajman Department of Municipality and Planning has launched a pilot initiative to regulate building classifications, bachelor accommodation, and shared housing across the emirate. The initial phase applies to five priority districts: Al Nuaimiya, Al Rashidiya, Al Nakheel, Liwara, and Al Rumaila. Municipal officials presented the new housing guidelines and application procedures to local property companies during a dedicated workshop.