The financial system of the United Arab Emirates (UAE) includes the following key components:
1. The Central Bank of the UAE is the main regulatory body. It controls the banking sector, financial stability, the issuance of the national currency, as well as the UAE's monetary policy.
2. The banking sector includes commercial banks, Islamic banks, a branch of foreign banks and an investment banks. A notable aspect is that branches of foreign banks are subject to a 20% tax on profits. This regional tax applies to profits earned by foreign bank branches in certain emirates: Dubai (Dubai Law No. 1 of 2024), Sharjah...