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Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [1][2] It is used on mobile devices to instantly transfer ...
The legal system in the United Arab Emirates is based on civil law, and Sharia law in the personal status matters of Muslims and blood money compensation. [1] Personal status matters of non-Muslims are based on civil law. [2] The UAE constitution established a federal court system and allows all emirates to establish local courts systems. [3]
The current standard VAT rate in the country is 5%. [2][3] In January 2022, the UAE Ministry of Finance announced the implementation of a federal corporate tax starting June 2023. [4] The standard rate of corporate tax is 9%, some exempt businesses and those with net annual profits under AED375,000 (US$102,100) qualify for a rate of 0%, and ...
The United Arab Emirates [c] (UAE), or simply the Emirates, [d] is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a federal , elective monarchy composed of seven emirates , with Abu Dhabi as its capital. [ 14 ]
US$92.57 billion. Bank rate. 5.15% [1] Website. centralbank.ae /en. The Central Bank of the United Arab Emirates (Arabic: مصرف الإمارات العربية المتحدة المركزي) (Central Bank of the UAE or CBUAE) is the state institution responsible for managing the currency, monetary policy, banking and insurance regulation in ...
The UAE's economy is the 4th largest in the Middle East (after Turkey, Saudi Arabia and Israel), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023. [ 5 ] The UAE economy is heavily reliant on revenues from petroleum and natural gas, especially in Abu Dhabi. In 2009, more than 85% of the UAE's economy was ...
The judicial system of the United Arab Emirates is divided into federal courts and local courts. The federal justice system is defined in the Constitution of the United Arab Emirates, with the Federal Supreme Court based at Abu Dhabi. [1] As of 2023, only the emirates of Abu Dhabi, Dubai and Ras Al Khaimah have local court systems, while all ...
United Arab Emirates dirham. The Arab Emirates Dirham (/ ˈdɪər (h) əm /; [ 2 ] Arabic: درهم إماراتي, abbreviation: د.إ in Arabic, Dh (singular) and Dhs (plural) or DH in Latin; ISO code: AED is the official currency of the United Arab Emirates. The dirham is subdivided into 100 fils (فلس). It is pegged to the United States ...