CAPITAL MARKETS-

SCA inks agreement for mutual recognition of fund and investment managers with Hong Kong: The Securities and Commodities Authority (SCA) signed an MoU with Hong Kong’s Securities and Futures Commission (SFC) to mutually recognize funds and investment managers licensed in each other’s markets, according to a statement (pdf). The agreement aims to accelerate cross-border market access and expand investment windows by reducing regulatory duplication.

ICYMI- Hong Kong’s SFC also recently inked MoUs for cooperation with ADGM’s Financial Services Regulatory Authority and the Dubai Financial Services Authority.

ADX to boost cooperation with Hong Kong exchange: The Abu Dhabi Securities Exchange (ADX) also signed an MoU with Hong Kong Exchanges and Clearing (HKEX) to expand cross-border cooperation, according to a separate press release. This will include dual listings, cross-border financing, and developing products like exchange-traded funds, while also promoting both markets through joint roadshows and seminars.

Background: The agreement builds on a previous MoU between ADX and HKEX in 2007, and follows ADX’s addition to HKEX’s list of recognized stock exchanges last year.

INVESTMENT-

#1- Meedaf invests in InDebted UAE for local push: Abu Dhabi Commercial Bank’s fintech arm, Meedaf, invested an undisclosed amount in InDebted’s UAE entity to support the Australian fintech’s regional expansion, according to a statement. InDebted — which specializes in AI-powered debt collection and launched local operations in March, serving consumer lenders, fintechs, and Buy Now Pay Later (BNPL) providers — will use the funding to establish a UAE hub and expand into banking, financial services, government, and telecoms.

REFRESHER- Abu Dhabi Commercial Bank launched Meedaf in April to provide AI, blockchain, and analytics solutions for banks and financial firms. Its first agreement was a joint venture with US money-handling group Brink’s to offer secure money transport, ATM management, and digital retail money solutions for UAE financial institutions.

#2- Mavryk raises USD 10 mn for RWA tokenization: Blockchain firm Mavryk has secured USD 10 mn in funding, led by financial derivatives broker MultiBank Group, to push forward their joint plan to tokenize USD 10 bn worth of real-world assets (RWA) through real estate in the UAE, CoinDesk reports. The project looks to allow investors to trade and borrow real estate tokens without the need to manage it through private keys.

ALSO INVOLVED- Dubai-based developer MAG Holding Group inked a USD 3 bn real estate tokenization with Mavryk and MultiBank back in May, bringing the real estate developer’s inventory onto MultiBank.io’s regulated real world assets marketplace, with Mavryk providing the blockchain infrastructure.

CONSTRUCTION-

Arada awards AED 2.2 bn Aljada contract to UNEC: Sharjah-based developer Arada awarded Dubai-based United Engineering Construction (UNEC) an AED 2.2 bn contract to build Madar Mall, the retail and entertainment anchor of its USD 9.5 bn Aljada mixed-use community project, according to a press release. Construction begins immediately, with completion set for December 2028.

Scale and scope: Madar Mall will span a 3.9 mn sq ft built-up area, with 1.1 mn sq ft of gross leasable area. The project will house over 400 shops, 80 dining outlets, and lifestyle and leisure facilities. Aljada is planned to accommodate over 25k homes and is slated to be ready in 2030, with Arada awarding AED 604 mn in contracts for its business district hub in March.

FINTECH-

Kamel Pay secures CBUAE in-principal approval to streamline payroll and B2B payments: UAE-based fintech Kamel Pay secured in-principal approval from the Central Bank of the UAE (CBUAE) for stored value facilities (SVF) and retail payment services (RPS) licenses, according to a press release. The fintech aims to provide full payroll and business payment solutions for firms, including supplier payments and salary management.

MARITIME-

AD Ports has awarded a contract to Azerbaijan’s Baku Shipyards for the construction of two shallow-draft container ships, according to a press release. The vessels — whose capacities stand at 780 TEU — are slated for delivery by 4Q 2027 and will be deployed in the Caspian Sea.

REMEMBER- The UAE and Azerbaijan signed an economic partnership agreement earlier this year aimed at boosting investment flows and cooperation across renewables, tourism, logistics, and construction services.

LOGISTICS-

Amazon lands in Kezad: Amazon — in collaboration with the Abu Dhabi Investment Office — has launched its first fulfillment center in Khalifa Economic Zones Abu Dhabi (Kezad), according to a statement. The facility — which has an 8 mn unit storage capacity — is set to boost fulfilment capabilities, ease delivery times, and increase customers’ product selection on offer. Half of it will be dedicated to sellers using the firm’s tailored Fulfillment by Amazon services.

SUSTAINABILITY-

UAE launches new platform for trading recyclables: The Climate Change and Environment Ministry launched a digital marketplace — Tahweel — dedicated to exchanging recyclable materials, Wam reports. Firms holding a valid trade license can use the platform, which was developed in partnership with state-backed sustainability firm Beeah and operates via a direct digital channel that offers auctions, and instant transactions, to trade materials including plastics, metals, e-waste, glass, rubber, and wood.

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