Join the #1 financial centre for accessing more growth opportunities When you join the number one global financial centre in the Middle East, Africa and South Asia, the growth opportunities are endless. 6,920 financial firms; FinTech and innovation businesses; family offices; institutions; and service providers use DIFC as their home to access the region. They employee more than 46,000 people in the Centre who are committed to driving the future of finance. Our world class laws, regulations, infrastructure and company structures enable companies to grow faster than the market, whilst providing the workforce with an unrivalled lifestyle and excellent career development. No wonder DIFC is the preferred catalyst for growth. Join the number one: difc.ae/business/make-an-enquiry Untitled-16 125/03/2025 23:30fi nancemiddleeast.comApril 2025 | 3 Crypto is a lot like life. Volatile, unpredictable, often irrational and occasionally brilliant. One minute, you’re staring at red candlesticks, the next, you’re riding a bull market like it’s 2021. And somewhere in between, you realise this wild ride isn’t just about charts and tokens. It’s about timing, belief and fi guring it out as you go. Andy Bernard from The Offi ce said it best: “I wish there was a way to know you’re in the good old days before you’ve actually left them.” Just ask the guy who used 10,000 bitcoins to buy a couple of pizzas. Speaking of bitcoins, in this issue, we unpack how crypto is maturing, not just as an asset class but as part of the fi nancial system. The convergence between digital assets and traditional fi nance in the Middle East isn’t speculative anymore. It’s operational. Banks are setting up crypto squads, embedding blockchain analytics into their compliance stacks, and treating tokenisation like it’s the next SWIFT. The UAE isn’t just catching up—it’s writing the playbook. VARA is laying down a full-spectrum licensing regime. ADGM is onboarding global asset managers and DeFi fi rms under one regulatory roof. This isn’t hype. It’s execution. So yes, crypto mirrors life—messy, layered and full of contradictions. But every once in a while, you get a moment of clarity. This issue? One of those moments. Nivetha Dayanand Editor Wall Street (1987) Directed by Oliver Stone The blueprint for fi nance fi lms, Wall Street follows Bud Fox, a young stockbroker drawn into the high-stakes world of corporate raiding by the ruthless Gordon Gekko. The fi lm explores greed, insider trading and ambition, with Gekko’s “Greed is good” speech becoming iconic in fi nance culture. Margin Call (2011) Directed by J.C. Chandor Set during the early stages of the 2008 fi nancial meltdown, this tense, real-time drama focuses on a fi ctional investment bank’s 24-hour scramble after a junior analyst uncovers a catastrophic exposure. The Big Short (2015) Directed by Adam McKay Based on Michael Lewis’s book, this fi lm breaks down the 2008 housing crash through the stories of investors who saw the subprime mortgage crisis coming. With sharp editing and fourth-wall breaks, it turns complex fi nancial instruments into gripping, accessible drama. MY TOP FINANCE MOVIE PICKS EDITOR’S LETTER FME_Apr2025_3_Editors letter_13572306.indd 327/03/2025 06:13fi nancemiddleeast.com4 | April 2025 24 16 26 34 BUILDING TOMORROW’S BANKING LEADERS Why is the talent transformation imperative? EVOLUTION OF THE MODERN TRADER Joseph Dahrieh on why 2025 is a pivotal year for Tickmill in MENA WHAT TAX RATE SHOULD YOU CONSIDER FOR UAE M&A TRANSACTIONS? The introduction of the UAE corporate tax at a standard 9% rate has already prompted signifi cant corporate restructuring eff orts WHERE RETAIL INVESTORS SHOULD BE LOOKING TO INVEST IN 2025 Two sectors that should not be overlooked this year are healthcare and defence 26 24 34 16 FME_Apr2025_4-5_CONTENTS_13572248.indd 427/03/2025 06:14fi nancemiddleeast.comApril 2025 | 5 42 36 48 52 CAPITAL OF CAPITAL Arvind Ramamurthy on ADGM’s strategy to attract the world’s top capital HOW TO OBTAIN A VIRTUAL ASSET LICENCE UNDER VARA IN DUBAI VARA’s regulatory regime enables VASPs to conduct business in a robust environment underpinned by clear rules WITH CRYPTO COMING OF AGE, UAE BANKS MUST MOVE UP THE 5-LEVELS OF MATURITY In the UAE, TradFi is poised to play a pivotal role as convergence with crypto evolves NAVIGATING THE FUTURE OF WEALTH Standard Chartered’s Judy Hsu on key trends shaping the industry 42 5236 48 FME_Apr2025_4-5_CONTENTS_13572248.indd 503/04/2025 17:14fi nancemiddleeast.com6 | April 2025 PO Box 500024, Dubai, UAE Tel: +971 4 444 3000 Web: www.itp.com Offices in Abu Dhabi, Dubai, London, Mumbai, Riyadh & Geneva ITP MEDIA GROUP CEO: Ali Akawi Managing Director: Martin Chambers Head of Business and Technology: Thomas Shambler EDITORIAL Editor: Nivetha Dayanand Tel: +971 4 444 3887 email: nivetha.dayanand@itp.com Associate Project Editor: Beatriz Valero Tel: +971 4 444 3413 email: beatriz.valero@itp.com Commercial Editor: Angitha Pradeep Tel: +971 4 444 3278 email: angitha.pradeep@itp.com ART Art Director: Amjad Ayche Art Editor: Tofi q Memon ADVERTISING Group Publishing Director: Natasha Pendleton Tel: +971 4 444 3248 email: natasha.pendleton@itp.com Senior Commercial Manager: Ines Ben Rejeb Tel: +971 4 444 3223 email: ines.benrejeb@itp.com PHOTOGRAPHY Senior Video Editor: Liju Cheruvathur MARKETING Head of Events: Eleanor Ashton email: eleanor.ashton@itp.com Events & Marketing Manager: Kate Galaktionova Events Manager: Beverly Stanforth Associate Events Manager: Vrinali Nazareth Associate Events Manager: Maria Trishina Events Executive: Ella Johnson Events Sales Executive: Jan Mokoala Events Administrative Assistant: Aronn Pureza Events Sales Assistant: Joyce Salonga Events Administrative Assistant: Bobbie Rosario PRODUCTION Production Manager: Balasubramanian P DISTRIBUTION Distribution Coordinator: Avinash Pereira Circulation Executive: Rajesh Pillai ITP GROUP CEO: Ali Akawi CFO: Toby Jay Spencer-Davies The publishers regret that they cannot accept liability for error or omissions contained in this publication, however caused. The opinions and views contained in this publication are not necessarily those of the publishers. Readers are advised to seek specialist advice before acting on information contained in this publication which is provided for general use and may not be appropriate for the reader’s particular circumstances. The ownership of trademarks is acknowledged. No part of this publication or any part of the contents thereof may be reproduced, stored in a retrieval system or transmitted in any form without the permission of the publishers in writing. An exemption is hereby granted for extracts used for the purpose of fair review. PUBLISHED BY AND © 2025 ITP MEDIA GROUP FZ-LLC. 6 | April 2025 To fl ip through previous editions of Finance Middle East magazine, visit fi nancemiddleeast.com/magazine/ 6 | April 2025 FME_Apr2025_6_Flannel_13572274.indd 627/03/2025 06:15UNLOCKING THE POWER OF AI IN FINANCE April 29 2025 | Anantara Downtown Dubai SCAN QR CODE TO REGISTER AI TECHNOLOGY PARTNERSILVER SPONSORKNOWLEDGE PARTNERSUPPORTING PARTNERfi nancemiddleeast.com8 | April 2025 ONLINE The UAE and Saudi Arabia have invested over $65 billion to transform the region into a global sports hub. A recent report by EY forecasted the sports economy in Saudi Arabia could rise to $22 billion annually by 2030. The UAE has implemented anti-avoidance provisions to prevent entities from exploiting tax benefi ts improperly. Foundations and family offi ces should ensure that their primary purpose is not tax avoidance to remain compliant. In today’s fast-paced and competitive fi nancial landscape, the contributions of women leaders have become increasingly vital. Across the GCC, women in fi nance are driving growth and shaping the future of the region’s fi nancial sector. Currency fl uctuations are inevitable for expatriates as the global fi nancial landscape continues to change. For millions of Indian expatriates in the UAE, the rupee- dirham exchange rate directly impacts their remittances. WHAT’S TRENDING ONLINE www.f inancemiddleeast .com Turning passion into profit How UAE corporate tax impacts foundations GCC’s 26 most influential women in finance AED to INR: How to maximise remittances WHAT OUR READERS THINK... Venture studios off er Saudi banks a scalable model for fi ntech innovation Corporate tax impacts on foundations and family offi ces in the UAE “Great insights, Dany, on how venture studios can be a game-changer for Saudi banks to innovate and stay ahead in the fi ntech space!” - Javier Saavedra Martínez, CEO for Southern Europe and the Middle East, Eureka Corp A fantastic opportunity for our Senior Client Accounting Manager, Ali Nawaz, to comment. Thank you! - Sovereign PPG FME_Apr2025_8-9_Web DPS_13572231.indd 827/03/2025 06:16Untitled-16 125/03/2025 23:26Next >