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With Global Recognition and Customer-Centric Strategy, CBD Backs SME Customers’ Ambitions

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Commercial Bank of Dubai (CBD) is a UAE-based banking and financial services corporation headquartered in Dubai. CBD is ranked as the number one bank in the UAE on the Forbes list of the World’s Best Banks 2022. Othman Ibrahim Bin Hendi, Chief Customer Officer at CBD speaks about the UAE’s banking sector in general and the strategic positioning of CBD in an exclusive interview with The Integrator!

How well do you think small and medium enterprises (SMEs) and large enterprises are supported by UAE banks? Differentiate CBD from the rest?

SMEs are the backbone of the UAE economy, accounting for around 94% of businesses in the country. In recent years, the UAE government has implemented several policies to boost economic growth by enabling businesses and entrepreneurs and increasing their contribution to the economy.

The financial services industry is crucial in helping SMEs navigate a challenging climate. In line with the UAE Government’s focus on SMEs, banks are supporting SMEs by striving to understand their businesses and developing products and services that suit their needs and minimize risk.

Othman Ibrahim Bin Hendi, Chief Customer Officer, CBD

As one of the UAE’s first and most reputed banks, CBD has always differentiated itself from the other competitors by being a bank focused on family-owned and managed businesses across the Emirates in the UAE. Over the years, it has supported numerous SMEs that have later grown with us to become large corporates.

Further, we have partnered with several government entities such as the Dubai Economic Department and Free zones, such as JAFZA, DMCC, DCAA, EFZA, Meydan, and RAKEZ to offer a full suite of products that are specially tailored for the SME segment to fulfill their business requirements and back their ambitions.

With the “Best Technological Innovation in Financial Services” award, CBD has been recognized at Seamless 2022. What innovation did make CBD achieve the award?

The “Best Technological Innovation in Financial Services” award was presented to CBD for its CBD Investr app, which is the first robo-advisory investment solution in the region offered by a bank. The innovative investment app is powered by smart algorithms that actively manage investment portfolios to deliver optimal risk-adjusted performance.

Through the CBD Investr app, customers can conveniently access a globally diversified and personalized portfolio of stocks, bonds, and other asset classes using low-cost exchange-traded funds (ETFs) aligned to investors’ risk profiles.

The app offers customers the option of robo-advisory portfolios or investing on their own through the self-investor option. Robo advisory portfolios are managed by smart algorithms to deliver optimal performance without customers needing to manage and track the markets. The self-investor option allows customers to buy and sell their preferred shares and ETFs in real-time, thus providing a more personal and customized experience.

Tell us about the recent global achievement of CBD of getting included in the Forbes List of the World’s Best Banks 2022

CBD has been named the number one bank in the UAE on the Forbes list of the World’s Best Banks 2022, based on key customer satisfaction metrics including trust, fees, digital services, and financial advice.

The Forbes fourth annual ‘World’s Best Banks’ report, published in conjunction with market research firm Statista, surveyed more than 45,000 customers across 27 countries around the globe for their opinions on their current and former banking relationships.

This global recognition is an affirmation of our customers’ trust in us to back their ambitions, and it also proves the success of our customer-centric strategy.

Elaborate on the performance indicators of the Commercial Bank of Dubai (CBD) and, as one of the longest-established banks, what role does it aim to play in 2022 and beyond?

The bank has delivered a net profit of AED 866 million for the first half of 2022, up 28.1% compared to the first half of 2021. Higher revenue across net interest and other operating income generated a strong increase in net profit. Market interest rates have risen, and solid loan growth resulted in higher revenue in the first half. Whilst the global macro-economic environment is challenging, the outlook for the UAE economy remains positive. The solid return on equity generated internal capital for growth while the bank’s liquidity position remained robust with the advances to stable resources ratio at 89.35% as of 30 June 2022. All capital ratios were well above the minimum regulatory thresholds mandated by the UAE Central Bank.

In 2022, we will continue to be instrumental in driving digital transformation and investing in enhancing technological capability to provide our customers with a best-in-class banking experience. For the first half of 2022, 98% of our wholesale banking transactions were initiated digitally, and we achieved a 102% increase in mobile banking transactions. Our app was rated 4.8 on App Store and 4.7 on Google Play Store.

We will also continue to back our customer’s ambitions by enhancing our products and services to fulfill the evolving needs of our customers and initiate strategic partnerships to support customers in achieving their financial goals.

Backing the nation’s ambitions and supporting the UAE’s Government initiatives is also one of our top priorities, and the launch of the CBD Digital Lab demonstrates that. The CBD Digital Lab is the first initiative by a bank to establish an R&D facility in the DIFC Innovation Hub, which aims to create a collaborative ecosystem in the FinTech sector by fostering innovation and supporting integration between financial institutions and fintech start-ups.

The Digital Lab will not only drive the future of finance and the future economy, but it will position the UAE as one of the world’s most innovative nations and a global hub for innovation and technology. Further, it reaffirms our efforts to become “default digital” and expand infrastructure in financial technology, unlock innovation opportunities, and introduce new and innovative financial products to the market.

How do you evaluate the post-pandemic banking situation in the UAE, and what reformative actions can be expected from banks?

We have recently announced our financial results for the first half of 2022. The positive results that we have achieved indicate that we are in a recovery mode and returning to pre-pandemic profitability levels.

The pandemic has forced banks to evolve and adopt new business models. A bank’s success in the future will be based on its ability to be agile. The landscape of the financial sector is changing dramatically. With technological disruption, the emergence of new entrants, both fintech and digital giants, and constantly evolving customer expectations, organizations are forced to continuously adapt to these changes and deploy an agile organizational model.

At CBD, digital transformation and innovation are fundamental to our ongoing success. We will continue to invest significantly in these areas to ensure we provide our customers with a convenient and seamless banking experience.

Can you tell us more about CBD’s ESG and Sustainability initiatives?

As an organization backing the ambitions of our proud nation, CBD remains committed to operating its business in a sustainable manner, aligning with the UAE’s efforts towards sustainable development, empowering local communities, and preserving the environment.

In 2021, CBD initiated an ESG transformation journey. We have consolidated ongoing and future environmental, social, and governance initiatives under a common ESG Framework governed by an ESG Committee, which is accountable to the CBD Executive Committee.

Our ESG Framework sets out the key initiatives we believe we must undertake as a responsible corporate organization. We firmly believe that every employee in the Bank, and every citizen and organization in the UAE, has a role to play in sustaining our future.

It is an incredible time to be a part of this great nation, particularly as the UAE readies itself to host COP28 in 2023. We are determined to play our part in driving the sustainability agenda and backing the ambitions of the UAE.

Below are some of the key initiatives that we have undertaken:

  • CBD financed a government entity undertaking the development of a 300,000 tons per annum multi-fuel conventional-based Waste-to-Energy (WTE) facility and associated power substation in the UAE. The project will help the Emirate of Sharjah reach its zero-waste-to-landfill targets and help the UAE achieve its goal of diverting 75% of solid waste from landfills.
  • CBD financed a consortium of companies that has been tasked to build and operate the expansion of a major solar park in the UAE. The solar park is one of the world’s largest renewable projects based on an independent power producer (IPP) model.
  • We have already begun reviewing the assets currently on our books. Additionally, we see potential opportunities in green repos and green trade loans. Our green product exploration is further supported by an emphasis on sustainability as part of our employee innovation challenge.
  • We are expanding upon our procurement framework to ensure that we are not only promoting local suppliers but also suppliers who have a demonstrable dedication to the environment.
  • We have reduced our paper consumption by 47%. Additionally, our consumption of plastic water bottles was reduced by 28%.

 

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MOZN’s AI-Powered FOCAL Platform Earns Recognition in Forrester Financial Crime Landscape

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MOZN, a leading enterprise AI company, today announced that it has been named among notable vendors in Forrester’s Financial Crime Management Solutions Landscape Q1 2026 report. This inclusion marks a significant milestone for MOZN and reinforces its position among global innovators.


The Forrester report, which lists 42 vendors, provides financial institutions with an overview of notable vendors and the key market dynamics shaping the rapidly evolving financial crime management (FCM) market, including fraud and anti-money laundering (AML) solutions.


MOZN was listed in the report with a geographic focus on Europe, the Middle East, and Africa (EMEA) and the Asia-Pacific (APAC) regions, and an industry focus on financial services, government, and insurance. The recognition underscores the company’s sustained investment in AI-driven innovation and its focus on delivering scalable, future-ready financial crime solutions tailored to high-growth and complex regulatory markets.


At the center of this recognition is FOCAL, MOZN’s end-to-end financial crime management platform. Built on a unified FRAML (Fraud + AML) architecture, FOCAL leverages agentic AI to automate data integration, accelerate risk-scoring, and streamline alert triage, enhancing investigator productivity while preserving human judgment. The platform offers flexible deployment options, allowing organizations to modernize their operations in a way that aligns with their technical and regulatory needs.


“MOZN’s inclusion in Forrester’s report reflects the progress we have made in building technology that truly transforms how institutions combat financial crime,” said Dr. Mohammed Alhussein, Founder and CEO of MOZN. “As Saudi Arabia designates 2026 as the Year of Artificial Intelligence, it reinforces the Kingdom’s ambition to lead in shaping the future of AI globally. At MOZN, we are proud to contribute to this vision by engineering AI-native platforms that make financial crime prevention more proactive, precise, and effective. This milestone reflects both the momentum of our mission and the growing global relevance of technology built in the region.”


By combining deep regional expertise with global technology standards, MOZN continues to advance its purpose of empowering organizations with intelligence that matters. The company remains committed to delivering AI-native solutions purpose-built for the world’s most regulated and knowledge-intensive sectors, enabling institutions to operate with greater clarity, confidence, and control. As demand for advanced AI-driven capabilities accelerates worldwide, MOZN is expanding its global footprint, supporting organizations as they navigate an increasingly complex financial crime landscape.

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EARLY ELIGIBILITY ASSESSMENT AND PRE-APPROVAL CRITICAL UNDER UAE R&D TAX CREDIT RULES

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The UAE Ministry of Finance has issued Ministerial Decision No. 24 of 2026, setting out the detailed implementation rules for the country’s first-ever Research and Development (R&D) Tax Credit regime under the Corporate Tax framework. Effective for Tax Periods commencing on or after 1 January 2026, the decision establishes a progressive, tiered credit structure with rates of 15%, 35% and 50%, linked to both the level of qualifying R&D expenditure and the number of R&D staff employed. The maximum qualifying expenditure is capped at AED 5 million per entity or Tax Group per year.

“The R&D Tax Credit is a landmark development, but it is not a simple year-end adjustment. The dual-threshold design means this is as much a workforce planning exercise as a tax planning one. Businesses need to understand that pre-approval from the Council is mandatory before any credit can be claimed – this is a precondition, not an administrative formality. Companies that begin mapping their R&D activities against the Frascati Manual criteria, quantifying qualifying expenditure and building their documentation framework now will be in the strongest position when it comes time to file,” said Nimish Goel, Leader Middle East, Dhruva, Ryan LLC Affiliate.

The move represents one of the clearest signals yet that the UAE intends its tax framework to actively incentivise innovation, influence capital allocation and support the country’s long-term economic diversification going well beyond revenue collection and international alignment. For businesses operating in manufacturing, technology, engineering, healthcare, food and beverage, agriculture, and other innovation-led sectors, the key consideration is whether internal systems are equipped to capture the benefit.

The credit operates on a dual-threshold basis that is unlike most international R&D incentive regimes. To access each tier, a business must satisfy both a minimum qualifying expenditure level and a minimum average R&D headcount. The first AED 1 million of qualifying spend attracts a 15% credit, requiring at least two R&D staff. The portion between AED 1 to 2 million qualifies at 35%, requiring at least six staff. Spend between AED 2 to 5 million qualifies at 50%, requiring at least fourteen staff. If the headcount threshold is not met, the credit rate drops to the highest tier where both conditions are satisfied, creating material cliff-edge effects that make workforce planning an integral part of tax planning for the first time in the UAE.

Qualifying R&D activities must meet five criteria drawn from the OECD Frascati Manual; they must be novel, creative, uncertain in outcome, systematic, and transferable or reproducible. Activities in social sciences, humanities and the arts are excluded, and only R&D conducted within the UAE qualifies. Qualifying expenditure falls into three categories: staff costs (which receive a 30% overhead uplift), consumable costs, and subcontracting fees paid to UAE-based contractors. Intra-group transactions are consistently excluded from qualifying expenditure, a design choice that will require groups with centralised R&D functions to review their cost allocation and transfer pricing arrangements carefully.

The decision also introduces a mandatory pre-approval process administered by the Council, ongoing compliance reporting obligations, and a seven-year record-keeping requirement for technical documentation covering R&D objectives, methodologies, experiments and findings. These requirements signal that the UAE authorities expect robust, contemporaneous evidence of qualifying activities, not retrospective assembly at the time of filing.

Commenting on the development, Justin Arnesen, Principal, Practice Leader, Europe & Asia Pacific Innovation Funding, Ryan, said, “Ryan’s global experience in R&D tax credits shows that the difference between a policy announcement and a commercial outcome lies in the rigour of eligibility analysis, documentation and claims management. We have helped UK businesses receive over AED 2.5 billion in innovation funding through R&D Tax credits. These outcomes were driven by disciplined processes, not just the existence of a credit. This initiative not only aligns with global best practices but also sends a clear signal to multinational organisations and emerging enterprises that the UAE is serious about fostering a knowledge and innovation-based economy.”

Implications for Multinational Groups under Pillar Two

For multinational groups within the scope of the UAE’s Domestic Minimum Top-up Tax (DMTT), the R&D Tax Credit adds an important layer to Effective Tax Rate (ETR) modelling. Because the credit is non-refundable, it is likely to be treated as a reduction of covered taxes under the Global Anti-Base Erosion (GloBE) rules rather than as a Qualified Refundable Tax Credit, a distinction that can lower the jurisdictional ETR rather than improve it. For groups operating at or near the 15% minimum rate, this means the credit could paradoxically increase Top-up Tax exposure even as it reduces Corporate Tax liability.

However, the decision provides a mechanism for unutilised credits to offset top-up tax directly through the Domestic Group structure, which partially mitigates this effect. Multinationals should model the net impact across both Corporate Tax and top-up tax before claiming, and factor in the five-year claw-back provision that applies if the entity’s status changes – including becoming a qualifying free zone person or redomiciling outside the UAE.

For businesses with cross-border operations, the commercial value of the R&D Tax Credit extends beyond the direct tax saving. The credit’s treatment in the group’s wider international tax profile, including its classification under tax treaties, its interaction with Pillar Two ETR calculations, and its impact on transfer pricing for cost contribution arrangements will require integrated advisory across multiple disciplines. Groups conducting joint R&D through cost contribution arrangements should note that only the arm’s length share of contributions attributable to UAE-based R&D qualifies, adding a transfer pricing dimension to credit planning. The Ministerial Decision applies to Tax Periods and Fiscal Years commencing on or after 1st January 2026.

“The UAE has built a thoughtful, well-structured framework with clear international lineage – the Frascati Manual criteria, the tiered incentive design, the Pillar Two integration. Early investment in activity mapping, expenditure tracking and documentation is likely to determine the extent to which businesses can access and sustain benefits under the regime,” concluded Nimish.

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BITCOIN STRUGGLES TO BREAK $74,000 RESISTANCE AS ETF INFLOWS RISE

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Bitcoin edged higher last week, gaining 11%, yet it continues to struggle to convincingly break through the $74,000 resistance level, according to Simon Peters, crypto analyst at eToro.

US bitcoin spot ETFs recorded $763 million in net inflows over the past week, helping to push prices higher. Strategy, the largest bitcoin treasury company by total holdings, also disclosed another significant purchase of 17,994 bitcoin for approximately $1.28 billion.

Looking ahead, the Federal Reserve meeting this week could prove pivotal in determining whether bitcoin breaks above the $74,000 level or experiences a correction. While markets had previously anticipated a dovish pivot, a sudden spike in oil prices due to the ongoing conflict in the Middle East may prompt the Fed to reconsider its outlook.

“The consensus is for the Fed to hold rates on Wednesday, but if Chairman Powell signals in his press conference that the central bank is prepared to raise rates should oil prices remain elevated or continue rising, this could trigger a sell-off in cryptoasset prices,” said Peters.

The meeting will also see the release of the Federal Reserve’s latest “dot plot”, offering insights into where each Federal Open Market Committee participant believes interest rates should be by the end of the year, next year and over the longer term.

AI tokens surge amid Nvidia comments

Among the biggest movers in the crypto market over the past week were AI-related tokens TAO and FET, both rising 47% as investors rotated into the sector following bullish remarks about artificial intelligence by Nvidia CEO Jensen Huang.

Ahead of Nvidia’s GTC AI conference this week, Huang described AI as “essential infrastructure”, stating that every company and nation will build and use it.

These comments have renewed interest in on-chain, decentralised AI networks, pushing tokens such as TAO and FET higher.

Mastercard launches crypto partner program

Mastercard has launched its Mastercard Crypto Partner Program, a new global initiative bringing together more than 85 companies across the crypto ecosystem, including exchanges, stablecoin issuers and blockchain development teams.

The program aims to foster dialogue and collaboration as the crypto sector continues to mature. Participants will work with Mastercard teams to combine the speed and programmability of blockchain technology with Mastercard’s merchant network spanning more than 210 countries.

The initiative builds on Mastercard’s existing digital asset activities, including its Start Path blockchain track, Engage platform and Crypto Card program.

Bitcoin reaches 20 million supply milestone

Bitcoin reached a historic milestone last week when the 20 millionth bitcoin was mined, marking the issuance of more than 95% of the cryptocurrency’s total capped supply of 21 million coins.

The milestone was reached on 10 March at block height 931200, 17 years after the network first launched. Due to Bitcoin’s halving schedule, the remaining one million coins are expected to take approximately another 114 years to be mined, with the final bitcoin projected to enter circulation around the year 2140.

Crossing the 20 million milestone again highlights Bitcoin’s scarcity dynamics. With demand continuing to outpace the new supply issued daily by miners and many holders unwilling to sell at current prices, the market could be positioned for a significant move higher over the coming months and years.

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