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Dubai’s monetary controller intends to dispatch cryptographic money guidelines in final quarter

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Dubai controller dispatches expansive system for speculation tokens.

The Dubai Financial Services Authority (DFSA) plans to dispatch a different administrative system covering ‘trade tokens’ (also called cryptographic forms of money), utility tokens and certain resource supported tokens (Stablecoins) in the final quarter.

“Our meeting on speculation tokens empowered us to get what firms were searching for in an administrative system and present a system that is applicable to the market,” said Peter Smith, Managing Director, Head of Strategy, Policy and Risk at DFSA.

Dubai’s monetary area guard dog dispatched its administrative system for speculation tokens. The system mirrors the proposed guidelines illustrated in Consultation Paper 138 gave in March last and will shape the first of two periods of the DFSA’s Digital Assets system.

The administrative system characterizes a speculation token as either a security token or a subordinate token. They are:

• A security or subsidiary as a cryptographically gotten computerized portrayal of privileges and commitments that is given, moved and put away utilizing disseminated record innovation (DLT) or other comparative innovation; and

• A cryptographically got advanced portrayal of freedoms and commitments that is given, moved, and put away utilizing DLT or other comparable innovation and: (I) gives privileges and commitments that are significantly comparative in nature to those gave by a Security or Derivative; or (ii) has a generously comparative reason or impact to a Security or Derivative.

The venture tokens’ administrative system applies to people or substances intrigued to advertise, issue, exchange or hold speculation tokens in or from Dubai International Financial Center (DIFC). It applies to approved firms wishing to embrace monetary administrations identifying with venture tokens or overseeing optional portfolios or aggregate speculation supports putting resources into venture tokens.

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Why Indian passport renewals in the UAE could face longer delays

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Indian expats in the UAE waiting to renew their passports or access other consular services could face continued delays after the Why Indian passport renewals in the UAE could face longer delaysCourt ordered a fresh tender process for outsourced consular operations.

The ruling affects the Indian Embassy in Abu Dhabi and the Consulate General of India in Dubai, as well as Indian missions in Kuwait, Singapore and Australia.

The court cancelled the previously awarded contract and directed India’s Ministry of External Affairs (MEA) to issue fresh Requests for Proposal (RFPs) within one month.

Why did the court intervene?

The case was brought by two companies that were eliminated during the technical evaluation stage of the bidding process.

While they did not challenge the technical assessment itself, they argued that the evaluation lacked transparency.

The Delhi High Court agreed, ruling that the authorities had failed to disclose how technical marks were awarded, effectively invalidating the tender process.

What happens now?

The contract had been awarded to Alhind Tours & Travels, which was due to take over consular operations from July 1 after submitting the lowest financial bid.

The Kerala-based company had already prepared to operate 16 service centres across the UAE, including a large facility in Bur Dubai with more than 45 service counters.

However, following the court’s ruling, Alhind can no longer formally assume the contract until a fresh tender process is completed.

How are passport services operating now?

Since July 1, passport, visa and other consular services have been handled directly by the Indian Embassy in Abu Dhabi and the Consulate General in Dubai, marking the first time in 17 years that the missions have managed these services in-house.

The missions currently process applications for:

  • Passport renewals
  • Visa services
  • Overseas Citizen of India (OCI) cards
  • Police Clearance Certificates (PCC)
  • Surrender Certificates (SC)
  • Global Entry Programme (GEP) verification
  • Document attestation

Authorities have also warned applicants against unauthorised agents claiming to secure appointments, stressing that bookings through the official portal are free of charge.

Will services be disrupted?

The High Court said existing service providers may be allowed to continue temporarily to minimise disruption, but the final decision now rests with the Indian missions and the Ministry of External Affairs.

Until a new tender is completed and a service provider is officially appointed, applicants may continue to experience longer waiting times for appointments and document processing.

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Free Bus On Demand rides are coming to Al Quoz: Here’s how it works

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Getting around Al Quoz is about to become easier, and for a limited time, it won’t cost a dirham.

Dubai’s Roads and Transport Authority (RTA) has expanded its popular Bus On Demand service to Al Quoz, with free unlimited rides available for the first two weeks from July 20.

Once the promotional period ends, fares will return to the standard Dh5 within the zone and Dh7 for interzone trips.

The RTA also confirmed that the service will soon expand to Al Satwa and Mirdif, although launch dates have yet to be announced.

How does Bus On Demand work?

Unlike traditional buses, Bus On Demand doesn’t follow fixed routes or bus stops.

Using the Dubai Bus On Demand app, passengers simply enter their pick-up and drop-off locations. The app then dispatches a shared minibus to collect them, operating much like a ride-hailing service.

Each vehicle can carry up to 13 passengers, offering an affordable alternative to taxis while providing more flexibility than conventional bus routes.

Where is the service available?

With Al Quoz joining the network, Bus On Demand now serves these communities:

  • Al Barsha 1, 2 and 3
  • Al Karama
  • Al Mankhool
  • Al Nahda
  • Al Qusais
  • Al Quoz
  • Al Rigga
  • Al Warqa’a
  • Barsha Heights
  • Business Bay
  • DIFC
  • Downtown Dubai
  • Dubai Academic City
  • Dubai Investments Park
  • Dubai Silicon Oasis
  • Jumeirah Village Circle
  • Oud Metha
  • Port Saeed

Fares after the free period

After the introductory offer, fares will be:

  • Dh5 for trips within the same zone
  • Dh7 for travel between zones
  • Dh2 for trips within Business Bay
  • Dh4 for each additional passenger included in the same booking

Operating hours

The service operates:

  • Monday to Thursday & Saturday: 5am to midnight
  • Friday: 5am to 1am
  • Sunday: 8am to midnight

The Bus On Demand service forms part of the RTA’s efforts to provide more flexible first and last-mile public transport options across Dubai, particularly in residential communities not directly served by Metro or traditional bus routes.

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Want a free taxi ride in Dubai? Here’s how to book the new autonomous cab

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Dubai residents can now experience the future of transport with free autonomous taxi rides in parts of Jumeirah and Umm Suqeim.

The Roads and Transport Authority (RTA) has started public operations of its driverless taxi service in partnership with Apollo Go and autonomous driving technology company WeRide.

Passengers can book the vehicles through the Uber or Apollo Go mobile apps at no cost during the current trial phase.

Announcing the launch on social media, the RTA said: “Your next ride could be autonomous, and it’s currently free.”

The rollout follows the introduction of Dubai’s commercial autonomous taxi programme earlier this year, which began with a fleet of 100 driverless vehicles. The fleet is expected to expand gradually as demand grows.

The initiative forms part of the Dubai Self-Driving Transport Strategy, which aims to increase the adoption of autonomous transport and reinforce the emirate’s position as a global leader in smart mobility.

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