Happy Tuesday everyone!

Bahrain has become the first Gulf country to issue a dedicated rulebook for stablecoins, setting a regional precedent in digital asset regulation. In Saudi Arabia, tech specialist Mohammed Alahmare has gone public about leaving Deloitte over values misalignment, joining Tahakom to build for Vision 2030. Meanwhile, UAE authorities have firmly denied that crypto investors are eligible for golden visas, urging the public to rely on official sources. From fintech frameworks to purpose-driven careers, the Gulf is shaping its future on its own terms.

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Bahrain Becomes First Gulf Country To Issue Standalone Stablecoin Rulebook

🔹 What Is It About

Bahrain has introduced the Gulf region’s first dedicated rulebook for fiat-backed stablecoins, setting clear legal and operational requirements for issuers. The Central Bank of Bahrain’s framework mandates full one-to-one asset backing, annual audits, minimum capital of $660,000, and strict cybersecurity protocols. Algorithmic stablecoins are excluded, and issuers must guarantee redemption rights for users.

🔹 Why It Matters

As stablecoins gain traction for remittances and cross-border payments, Bahrain’s move offers much-needed regulatory clarity for crypto firms and investors. It provides legal certainty by treating stablecoins as a distinct financial product—something regional peers like the UAE have yet to implement comprehensively.

🔹 What’s Next

Bahrain’s leadership could influence broader Gulf policy as other countries weigh crypto regulations and explore central bank digital currencies. The framework may attract global players like Circle, which is eyeing Gulf remittance corridors. The region’s next step: balancing innovation with financial safeguards.

Markets

Saudi Tech Specialist Leaves Deloitte Over Values, Joins Tahakom To Build For The Kingdom

🔹 What Is It About

Mohammed Alahmare, an emerging tech expert, has revealed why he left his role at Deloitte to join Saudi public-sector firm Tahakom. In a candid LinkedIn post, he cited value misalignment, disillusionment with innovation priorities, and Deloitte Israel’s stance during the genocide in Gaza as key reasons. He says Tahakom’s mission-driven focus on AI, public safety, and smart mobility is a better fit for his personal and national values.

🔹 Why It Matters

Alahmare’s story echoes a wider shift among Saudi professionals choosing purpose over prestige. As Vision 2030 accelerates, more talent is moving from global consulting to national projects with tangible impact. His post also raises complex questions about how multinational firms navigate geopolitics in polarized environments, especially when their stances clash with local sentiment.

🔹 What’s Next

With firms like Tahakom ramping up investments in AI and safety tech, more professionals may follow suit—prioritizing nation-building over global careers. Alahmare’s move may encourage companies operating in the region to reevaluate how cultural and political alignment influences retention, recruitment, and reputation.

UAE Clarifies Golden Visa Rules: Crypto Investors Not Eligible

🔹 What Is It About

UAE authorities have issued a joint statement confirming that digital currency investors are not eligible for the country’s Golden Visa. The clarification comes amid widespread online claims suggesting otherwise. The official visa categories include real estate investors, entrepreneurs, exceptional talents, and other specified groups—not crypto investors.

🔹 Why It Matters

The statement aims to counter misinformation and prevent potential fraud targeting digital asset investors. It reinforces the UAE’s commitment to transparency, regulated financial services, and safeguarding investor trust as it continues to position itself as a global investment hub.

🔹 What’s Next

Authorities urge the public to rely on official channels for visa information and to avoid unlicensed crypto firms. VARA emphasized that companies must adhere strictly to government visa rules, while also disclosing that crypto firm TON is not licensed in Dubai. Regulatory vigilance is expected to tighten further.

👨‍💻From Smashi Business’ Desk

• Dreamers: Saudi billionaire Prince Alwaleed bin Talal—one of the Middle East’s most influential investors — is back in the spotlight.

• Amr Diab signs with Orange Egypt, ending nearly a decade-long partnership with Vodafone.

• Lebanese-born former Nissan CEO Carlos Ghosn is making a comeback - on social media.

• Saudi startup Ninja just hit unicorn status!

• Dr. Talib Alhinai, GM of Archer UAE, called it a major milestone for electric aviation as Archer’s full-scale Midnight air taxi completed its first test flight at Al Bateen Executive Airport.

🔍In other news…

• World bank expects Syria’s GDP to grow 1% in 2025

• $2.7bn Dubai Exhibition Centre to host first event in 2026

• Saudi Arabia rolls out skill-based work permits to attract global talent

• The Abu Dhabi based taxi and fleet operator Mwasalat Holding has sold a sizable 22.5% stake to Emirates Driving Company, which is owned by Abu Dhabi-listed Multiply Group.

• BRICS in Wait-and-See Mode After Trump Threatens Extra Tariffs

• Stc Group’s venture capital arm has invested in Tarmeez Capital, a Saudi debt trading platform planning a push into private credit

• UAE Central Bank Fines 3 Exchange Houses $1.1M For Anti-Money Laundering Violations

• Trump says tariffs delayed again, as few deals made with US trade partners before deadline

🏦Crypto Corner

• Dubai Land Department teams up with Crypto.com on digital real estate investment plan

• Why UAE and Turkey invest in digital assets for very different reasons

• Bitcoin Miner Tied to Trump Sons Plans Dubai Crypto Trading Team

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