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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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UAE 50°C temperatures and morning fog: What UAE residents need to know before heading out

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UAE residents can expect very hot weather, rising humidity and possible fog or mist in the coming days, with a chance of rainfall over eastern areas.

According to the National Centre of Meteorology (NCM), skies will remain fair to partly cloudy, with convective clouds potentially developing over eastern areas in the afternoon and bringing rain.

Humidity is expected to increase overnight and on Tuesday morning, particularly over some western coastal areas. This could lead to fog or mist and reduced visibility.

Motorists have been advised to take extra care during early morning drives and adjust their speed when visibility is poor.

Temperatures approach 50°C

Meanwhile, daytime temperatures will remain exceptionally high across the country. Coastal areas are expected to reach 40°C to 45°C, while temperatures in inland areas could climb to 49°C.

Light winds and calm seas

Winds are expected to be light to moderate, becoming fresh at times. Sea conditions will remain slight, with waves reaching around two feet onshore and three feet offshore.

With extreme daytime heat continuing alongside higher humidity and possible fog, residents are advised to plan outdoor activities carefully and exercise caution on the roads during periods of reduced visibility.


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Etihad Rail warns passengers of Dh200 fines for ticket violations

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Etihad Rail has warned passengers that travelling without a valid ticket or misusing discounted fares could result in a Dh200 fine, denial of service and possible legal action.

Under the company’s Passenger Charter, travellers must have a valid ticket before boarding an Etihad Rail train or bus. A ticket is valid only when it carries the correct passenger name, date and travel time, and has not already been used.

What can lead to a Dh200 fine?

Etihad Rail lists four key violations that can attract a Dh200 penalty:

  • Travelling without a valid ticket, including using a ticket issued in someone else’s name.
  • Deliberately avoiding payment of the correct fare.
  • Using a discounted or category-specific ticket without being eligible.
  • Forging, altering or fraudulently obtaining a ticket.

Invalid or fraudulent tickets may be confiscated by authorised staff, with no compensation payable for confiscated tickets.

Passengers found without a valid ticket may also have to purchase a Flexible ticket at the applicable fare for their journey.

Ticket checks can happen throughout the journey

Passengers must carry their ticket and valid identification and produce them when requested by Etihad Rail staff or authorised personnel.

Checks can take place at departure stations, during the journey, at intermediate stations and when passengers leave the platform at their destination.

Travellers using electronic tickets are responsible for ensuring their phones have enough battery to display the ticket when required.

Passengers must also travel in the coach and seat shown on their ticket, unless instructed otherwise by Etihad Rail.

Repeat offenders could face travel bans

Etihad Rail said repeated or serious violations could lead to passengers being refused travel, required to end their journey or barred from using its services for a specified or indefinite period.

The company may also refer cases to the relevant authorities, including the Public Prosecution. Additional penalties, including imprisonment where provided by law, may apply.

Passengers denied travel or service because of a violation may not be entitled to a refund or compensation.

Etihad Rail also prohibits buying tickets from unauthorised sources, altering tickets to defraud the company, or transferring unused or partially used tickets where the ticket conditions do not allow it.


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Indian passport services in UAE: Who can use the new walk-in facility

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The Indian Embassy in Abu Dhabi has introduced a walk-in facility for eligible applicants seeking passport, visa, attestation and other consular services at Alhind Tours and Travels centres across the UAE.

Walk-ins will be accepted from 9am to 1pm at all 16 Indian Consular Application Centres operated by Alhind.

The facility is available to:

  • Tatkaal passport applicants
  • Newborn cases
  • Emergency Certificate applicants
  • Senior citizens
  • People of determination

The embassy has advised applicants to book appointments online whenever possible. Walk-in requests will be processed subject to available slots.

Alhind centres and appointments

Appointments can be booked online through the service portal. Regular service hours at the centres are 8am to 6pm.

Alhind charges a Dh19 service fee, including VAT, in addition to applicable Indian government fees. The fee covers services such as form filling, photographs, document typing, printouts, photocopies and domestic courier services.

Indian passport fees increased

Indian passport fees were increased from July 1, marking the first revision in 14 years.

For an ordinary fresh passport or reissue with 36 pages, the fee is now Dh96under the normal scheme and Dh190 under Tatkaal, up from Dh57 and Dh134 respectively.

For a 60-page passport, the new fees are Dh134 for normal applications and Dh230 for Tatkaal, compared with Dh78 and Dh153 previously.

The fee revision also applies to Indian nationals living overseas, with the corresponding charges set in local or applicable foreign-currency terms.


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