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RAK introduces world’s ‘first free zone’ for Metaverse companies

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Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, has issued laws to establish apparently the world’s first free zone dedicated to digital and virtual assets companies.

Established under Law No. 2 of 2023, the Ras Al Khaimah Digital Assets Oasis will be an independent governmental authority. The new law grants RAK Digital Assets Oasis financial, administrative, and legislative independence, allowing it to function as a purpose-built free zone to enable innovation in the virtual assets sector.

The setting up of DAO is in furtherance to Law No 1 of 2023, which outlines the establishment of the Department of the Future. The new department will play a pivotal role in promoting innovation and driving the Emirate’s economic development in the digital age, positioning Ras Al Khaimah as a leader in innovation and entrepreneurship in the digital and virtual assets sector.

Sheikh Saud said: “The Emirate of Ras Al Khaimah has been playing a leading role in national efforts to strengthen the UAE’s diversified, sustainable economy. With the nation’s focus on digitalisation and encouraging enterprises of the future, RAK Digital Assets Oasis will serve as the gateway for global digital and virtual assets companies to establish their operations and grow their business. Our commitment is to provide an inspiring, innovation-centric environment that helps realize bright ideas that have transformational impact on the world.

“The new free zone will further cement Ras Al Khaimah’s reputation as a destination of choice for next-generation business ventures and the economy of the future.”

To lead the initiative, Sheikh Mohammed Al Qasimi has been appointed chairman and Dr Sameer Al Ansari as the CEO. Sheikh Mohammed is the Chairman of RAK International Corporate Centre (RAK ICC) and a Board Member and Managing Director of RAKEZ, while Dr Al Ansari is the CEO of RAK ICC and a member of the Board of Directors of Marjan, Ras Al Khaimah’s flagship master developer.

Sheikh Mohammed Al Qasimi

The DAO will open for applications in the second quarter of 2023, becoming the only free zone in the world exclusively for digital and virtual asset companies that are innovating in new and emerging sectors, such as the metaverse, blockchain, utility tokens, virtual asset wallets, NFTs, DAOs, DApp, and other Web3-related businesses.

Sheikh Saud added: “Ras Al Khaimah’s unique combination of accessibility, agility, and liveability will foster responsible innovation and position the UAE at the forefront in driving the most successful disruptive tech transformations of the coming decades.

“We are focused on promoting entrepreneurship, including the digital and virtual assets sector, which thrives on innovation and speed. The new free zone will encourage young talent to implement their powerful ideas for the digital world, as well as drive global digital players to expand their footprint through our free zone, which will add incremental value to the economy by creating new jobs and promoting inward investment. RAK Digital Assets Oasis will be a key economic growth engine for Ras Al Khaimah and the wider region.”

 

For more information, please visit www.rakdao.com or follow them on Twitter at @RAK_DAO

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Self.space puts the power of photography in your hands

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Forget Snow White’s mirror — this one doesn’t compare, doesn’t critique, and answers only to you. Introducing self.space, a revolutionary sealed-room mirror photography studio that’s as private as your thoughts and as flattering as your best angle.

In a region where modesty and privacy are deeply valued, self.space is reimagining the photoshoot experience. No photographers. No spectators. No pressure. Just you and a smart mirror, inside a sound-insulated, self-directed studio designed for complete comfort and control.

Traditional photoshoots can feel intimidating — unfamiliar surroundings, judgmental eyes, and the pressure to perform. self.space changes that. Walk into a sleek studio, close the door behind you, and watch the privacy light switch on. Now it’s just you — free to pose, express, and capture your image on your terms.

“We found that people reject photos not because they lack beauty or talent — but because tension stays on their faces,” say co-founders Mitia Muravev (Founder & CEO) and Peter Bondarenko (Founder & CPO). “That tension is stronger in the Arab world, where privacy and modesty are part of daily life.” Mitia drives the brand’s vision and partnerships, while Peter leads the tech — from embedded cameras and edge AI to full-stack infrastructure. Together, they’ve created more than a photo studio — they’ve packaged confidence.

How it works:

  1. Walk in – Door closes, privacy light turns on.
  2. Capture – Use the remote to take unlimited shots.
  3. AI Perfects – Instant, natural-looking touch-ups preserve your true look.
  4. Gallery Ready – A secure link to your encrypted gallery is sent to your phone before you leave.

Whether you want professional portraits, personal mementos, or a quiet moment of self-reflection, self.space offers something rare: a private, pressure-free space to simply be yourself — and love what you see.

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You might stop getting bank OTPs via SMS in UAE : Here’s why

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In a landmark move to boost digital banking security, banks across the UAE will begin phasing out one-time passwords (OTPs) sent via SMS and email starting Friday, July 25, 2025. The transition comes in line with new directives issued by the UAE Central Bank, mandating the adoption of app-based authentication for all local and international banking transactions.

The shift will be implemented in stages, with customers required to activate app-based verification systems to continue approving transactions. The complete phase-out of SMS and email OTPs is expected by March 2026.

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The UAE Central Bank’s initiative marks a significant departure from traditional OTP delivery methods, which have increasingly become targets for cyber threats. In contrast, app-based verification offers a more secure and reliable method for transaction approvals, leveraging advanced technology to safeguard user data and banking operations.

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UAE reveals 2025–2026 academic calendar for all universities

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The Ministry of Higher Education and Scientific Research (MoHESR) has unveiled a new academic calendar for the 2025–2026 academic year, set to be adopted across all public and private higher education institutions in the UAE. The move follows approval from the Education, Human Development and Community Development Council and is part of a broader push to strengthen the national education system.

Key changes include a revised structure for end-of-term holidays, aimed at offering greater flexibility and consistency for universities across the country. The revamped calendar is aligned with the objectives of the ‘Year of Community,’ a national initiative that encourages family cohesion and student well-being through a more balanced academic schedule.

His Excellency Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation and Acting Minister of Higher Education and Scientific Research, said the new calendar reflects a strategic shift in how academic life is structured to better serve students and society.

“This step reflects our ongoing efforts to enhance the efficiency of the higher education system by aligning academic policies with community development goals and student needs,” Dr. Al Awar said. “It marks a qualitative shift toward a more flexible, balanced system that supports students’ well-being, community engagement, and personal growth.”

The Ministry says the updated calendar is part of a larger vision to foster an integrated and responsive university environment—one that not only meets academic requirements but also supports the broader personal and social development of students.

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