Programme for Small and Medium Enterprises and Binance first round of licensing

Programme for Small and Medium Enterprises and Binance first round of licensing

  • News
  • Dubai Economy: obtainment of a virtual asset licence to operate in Dubai and launch of National Programme for Small and Medium Enterprises (SMEs)

The world's largest cryptocurrency exchange, Binance, secured a virtual asset licence to operate in Dubai.

As part of the first round of licensing, Binance will provide:

  • Limited exchange products
  • Services to pre-qualified investors
  • Assistance to financial service providers

The UAE has launched National Programme for Small and Medium Enterprises (SMEs).

Includes: 1. The Government Procurement Programme 2. The Business Support Programme 3. The Financing Solutions Programme SMEs today represent 94% of the total companies and institutions operating in the country and contribute more than 50% to GDP.

Announcement of the placement of 6.5% of its shares for trading on the financial market

The Dubai Electricity and Water Authority (DEWA) has announced the placement of 6.5% of its shares for trading on the financial market (DFM). To buy shares, investors need to have:

  • UAE-based bank account
  • DFM Investor Number (NIN)

Sources: Media Office Government of Dubai, Trade Arabia, Khaleej Times

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