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Dubai Insurance Company and One Degree, Asia’s first licensed insurer for digital assets, have received approval from the Central Bank of UAE to offer digital asset custodial risk insurance in the UAE. This new insurance service, branded as "One Infinity," enhances their product portfolio and supports digital asset companies by providing comprehensive risk management solutions. Robin Scott, General Manager of Middle East for One Degree, announced this development at the Belt and Road Summit in Hong Kong. The custodial risk insurance is essential for digital asset exchanges, custodians, and service providers, protecting against risks such as hacks, theft, internal fraud, and physical damage. This approval marks the first time such specialized insurance is available directly in the UAE, further solidifying the country’s position as a hub for digital assets.

Al Salam Bank has introduced a new Youth debit card for individuals aged 10 to below 18 years old. The card features a modern design and offers up to 30% discounts and exclusive deals at restaurants, cafes, fitness centers, and more. It aims to promote financial independence among youth. New clients can open an account and get the card instantly at the Bank’s Self-Service Kiosk, while existing clients can replace their current cards at the kiosk. The card includes benefits such as loyalty rewards, independent usage of BenefitPay, and eligibility for monthly prizes. For more details, visit the Bank’s website or contact them via WhatsApp or their virtual branch.

شركة منازل ش.م.خ وقعت اتفاقية تعاون مع شركة يمناك للاستشارات لتأمين أرض مشروع في المدينة المنورة، السعودية، بهدف تطوير مشروع سكني. هذا المشروع يهدف إلى تعزيز مشاريع منازل الخارجية وتوفير الخيارات السكنية المناسبة لعملائها. المدينة المنورة تعتبر وجهة استراتيجية نظراً لأهميتها الدينية والاقتصادية، مما يجعلها موقعاً جذاباً للزوار والمقيمين.

Americana Restaurants International PLC, located in Abu Dhabi, UAE, held a Board of Directors meeting on 16 September 2024 at 12:30 pm. The agenda included discussing the company's performance and considering other business matters. The notification was addressed to the Chief Executive Officer of the Abu Dhabi Securities Exchange. The letter was signed by Saqib Muhammad Sabir Awan, Secretary of the Board, with a copy sent to the Securities and Commodities Authority.

National Bank of Fujairah PJSC (NBF) has strengthened its capital structure by issuing Additional Tier 1 (AT1) capital securities worth USD 275 million (AED 1.01 billion). This move, approved by shareholders and regulatory bodies, aims to support NBF's business strategy and refinance existing AT1 capital securities of USD 350 million. The new issuance has been privately placed with the Government of Fujairah and allows for mandatory conversion into ordinary shares within two years. Dr. Raja Easa Al Gurg, Deputy Chairperson, highlighted the importance of maintaining a robust capital position to support future growth and handle unforeseen challenges. NBF, established in 1982, offers comprehensive corporate and personal banking services, including Shari’a-compliant options, leveraging its expertise in Fujairah and the UAE.