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Covering Geopolitical Risk, Scam, Fraud, Tariff Elimination, Governance. Updates cover geopolitical risk, scam and fraud alerts by DFSA, Saudi Arabia’s advisory licensing, and Japan-UAE tariff elimination under CEPA. Focus on governance and compliance in financial and trade sectors.
Regulatory news, updates, and insights for countries in the Middle East presented by the Carver Agents team
Welcome to Carver's Middle East Regulatory Updates.
The Dubai Financial Services Authority, or DFSA, has implemented amendments to its Anti-Money Laundering and Glossary Modules. These changes reflect the UAE Federal Decree by Law Number 10 of 2025 and Cabinet Resolution Number 134 of 2025. The DFSA has also published frequently asked questions to assist regulated entities in understanding the updated anti-money laundering, counter-terrorist financing, and counter-proliferation financing requirements. Regulated firms in the Dubai International Financial Centre must ensure ongoing compliance with UAE Federal AML legislation, the DIFC Regulatory Law 2004 as it relates to AML, and the DFSA AML Module. Key obligations include adopting a risk-based approach to AML compliance and securing senior management involvement and approval in high-risk customer relationships. Firms are advised to update their customer acceptance policies and senior management oversight accordingly.
In addition, the DFSA has issued warnings concerning impersonation scams involving regulated firms. One alert concerns scammers impersonating Amana Financial Services (Dubai) Limited by using a false website and misleading names. The DFSA cautions the public not to respond to any communications related to this scam or send money to any connected parties. Verification of authorised firms should be done exclusively through the DFSA Public Register.
Similarly, the DFSA has warned about false claims that Qalynomics and Qanotarytx are licensed by the authority. These scams involve cloned Public Register websites and fraudulent communications. The DFSA urges the public to verify firm authorisation only via the official DFSA Public Register website and to report any suspicious correspondence to the DIFC Authority and the DFSA.
Turning to Saudi Arabia, the Capital Market Authority has approved Core Capital Company to commence advisory activities in securities. This approval follows the CMA Board decision dated 16 December 2024, confirming that Core Capital has met all regulatory requirements under the Capital Market Law and its executive regulations. The company must comply with CMA rules governing advisory activities in securities, ensuring market integrity and investor protection.
Lastly, a significant trade development between Japan and the United Arab Emirates has been announced. The Comprehensive Economic Partnership Agreement, or CEPA, includes tariff eliminations and reductions on key export items such as automobiles, steel products, and industrial machinery. The agreement also covers rules on digital trade, services, customs procedures, intellectual property, government procurement, and subsidies. This pact facilitates smoother economic activities for Japanese companies operating in the UAE, strengthens supply chains, and provides higher market access than World Trade Organization standards. Key provisions include elimination or reduction of tariffs on industrial products, adherence to new rules on digital trade including free cross-border data transfer, and prohibition of local server requirements. Compliance with streamlined customs procedures and intellectual property protections are also mandated.
That wraps up today's regulatory updates. Visit carveragents.ai for more information.