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Six currencies account for 90% of Arab transactions: AMF chief

Published

4 years ago

March 22, 2022

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Six currencies account for 90 per cent of Arab transactions, which are the Emirati Dirham, the Saudi Riyal, the Egyptian Pound, the Jordanian Dinar, the US Dollar and the Euro, said Dr Abdulrahman bin Abdullah Al Hamidy, director-general and chairman of the Board of Executive Directors of the Arab Monetary Fund (AMF).

Al Hamidy pointed out that the ‘Buna Payment Platform’ is the first regional cross-border and multi-currency payment system that supports Arab transactions in investment, trade and financial transfers, and strengthens Arab integration through the use of Arab currencies in transactions, he told Wam.

The platform is progressing towards achieving its objectives and has forged alliances with Arab and international trade partners, he added, noting that a related agreement was signed with India, and the efforts are on to open new markets in Africa.

The platform has adopted a comprehensive strategy to link Arab financial markets with the Jordanian financial payment system recently joining the platform, which will encourage the use of the Jordanian Dinar in Arab transactions, he added.

The platform is an integrated system designed to provide clearing and settlement services for payments in Arab and international currencies, to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive cross-border payments throughout the region and abroad in a safe, reliable and affordable manner, Al Hamidy further added.

The platform offers users modern payment solutions, in line with international standards and compliance requirements, to strengthen economic and financial integration in the Arab region and reinforce investment ties with commercial partners worldwide, he said in conclusion.

Buna is a cross-border payment system owned by the Arab Monetary Fund, aiming to enable financial institutions and central banks in the Arab region and beyond to send and receive payments in local currencies as well as key international currencies in a safe, cost- effective, risk-controlled, and transparent environment. Buna offers participants modern payment solutions that comply with international standards, principles, and compliance requirements.

Thanks to its cross-border payment system Buna contributes to exploring and strengthening opportunities for economic and financial integration in the Arab region and supporting investment ties with the global trading partners. Buna welcomes the inclusion of all banks that meet the criteria and conditions for participation, primarily the standards and procedures of compliance aspects.

Staff Reporter

Education

CBSE results: UAE students celebrate after months of uncertainty

Published

6 hours ago

May 13, 2026

Michael Gomes

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Students across the UAE are celebrating as India’s Central Board of Secondary Education officially announced the 2026 Class 12 board exam results on Tuesday.

Homes and schools across the Emirates were filled with excitement and relief as students rushed online to check their scores shortly after the results were released.

Relief after months of uncertainty

The results come after an unusually challenging academic period for CBSE students in the Middle East.

In March, CBSE announced the cancellation of Class 12 board exams across Gulf countries, including the UAE, following regional tensions linked to the US-Israel-Iran conflict, which has since entered an extended ceasefire period.

Schools across the UAE had temporarily shifted to distance learning during that time, forcing major adjustments to academic schedules and assessment plans for graduating students.

Digital scorecards released first

Students are currently receiving provisional digital marksheets, while original certificates and official documents will be distributed later through schools.

CBSE confirmed that digital scorecards available through DigiLocker can, in the meantime, be used for university admissions and official applications.

Students celebrate across the UAE

While many schools are still waiting to receive consolidated results, social media has already been flooded with reactions from students celebrating strong scores and sharing their results online.

The announcement marks a major milestone for thousands of Indian curriculum students across the UAE preparing for higher education admissions in India and abroad.

News

Learning to drive in Dubai? The RTA just changed the training curriculum

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6 hours ago

May 13, 2026

Michael Gomes

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Dubai is getting a major tech upgrade for trainee drivers. The Roads and Transport Authority (RTA) has updated its light vehicle driver training curriculum to include modern smart driving technologies and Advanced Driver Assistance Systems (ADAS).

The move reflects the growing number of vehicles equipped with intelligent safety features on Dubai’s roads and aims to better prepare new drivers for modern driving conditions.

What’s included in the new training?

The updated curriculum now covers training on:

Forward collision warning
Blind spot monitoring
Lane departure alerts
Parking assist systems
Adaptive cruise control
ABS braking systems
Other advanced driver safety technologies

According to Sultan Al Akraf, Director of Drivers Licensing at the RTA, the revised programme is designed to improve driver behaviour, enhance road safety and help reduce traffic accidents.

Integrated into driving schools and tests

The new content has been added to:

Theoretical lessons
Practical driving sessions
Official driver handbooks

The programme was developed in collaboration with Dubai’s driving institutes to align training with internationally recognised road safety standards.

RTA says more than 250,000 trainees have already benefited from the updated curriculum in recent years, while workshops continue to be held for driving schools to ensure instructors stay updated on evolving vehicle technologies.

As cars become increasingly automated and technology-driven, understanding ADAS systems is becoming a key part of safe driving.

News

Know all about Dubai’s new AI parking cameras and how to pay

Published

6 hours ago

May 13, 2026

Michael Gomes

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Finding parking in Dubai could soon become much easier. Parkin has launched new AI-powered smart parking camera systems across three major locations in the city, introducing curb-side parking technology in the region.

The rollout covers Trade Centre One, Burj Khalifa and Al Corniche, where more than 500 curb and pole-mounted cameras are being installed.

How the system works

The new system uses AI to automatically capture vehicle images, read number plates and detect entry and exit times without the need for traditional parking meters or manual checks.

Parkin has also deployed 200 parking lot cameras capable of:

Calculating parking fees automatically
Enabling seamless auto-payment
Detecting parking violations
Tracking real-time parking occupancy

All cameras are solar powered, supporting Dubai’s wider sustainability goals.

Integrated with Parkin app

The smart parking system will be fully integrated into the Parkin app, allowing drivers to pay automatically through the Parkin Wallet feature.

Officials say the technology is designed to reduce congestion caused by drivers searching for parking spaces while improving overall traffic flow and parking management efficiency.