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Banking compliance enforcement, cloud infrastructure expansion, and European football ownership speculation lead Middle Eastern business updates today. The Central Bank of the UAE prohibited all local branches of Bank Melli Iran from conducting cross-border financial transactions following anti-money laundering and terrorism financing investigations. In technology, Microsoft announced plans to deploy over $10 billion across four Gulf countries by 2030 to build cloud and AI data center capacity. Meanwhile, DAMAC Properties founder Hussain Sajwani emerged as a potential bidder for Manchester United as members of the Glazer family evaluate selling their remaining shares.

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Central Bank of the UAE Imposes Sanctions on Bank Melli Iran Branches

🔹 What Is It About

The Central Bank of the UAE barred all local branches of Bank Melli Iran from carrying out financial transactions to and from Iran. Enforced under Article 168-1-C of Federal Decree-Law No. 6 of 2025, the regulatory action follows examinations that revealed non-compliance with anti-money laundering, counter-terrorism financing, and proliferation financing laws. The restriction completely stops trade finance, corporate transfers, and correspondent banking services for the Iranian state-owned lender's UAE offices.

• Prohibiting Cross-Border Transfers: UAE authorities blocked all payment routes and trade finance services linked to Iran.

• Citing Regulatory Non-Compliance: Audits revealed violations of anti-money laundering and counter-terrorism financing statutes.

• Enforcing Monetary Supervision: Central Bank Governor directives imposed immediate operational restrictions on all active branches.

🔹 Why It Matters
Barring Bank Melli Iran from processing cross-border settlements cuts off one of Tehran's main trade banking channels in the Arabian Peninsula. Strict enforcement demonstrates the UAE's focus on enforcing compliance across its banking system and adhering to international financial standards. Stopping trade clearing through Iranian state banks forces regional traders to find alternative financial channels for non-sanctioned commercial goods.

• Cutting Trade Financial Links: Stopping branch transactions halts direct trade settlement routes between the UAE and Iran.

• Protecting Banking Reputation: Enforcing strict compliance safeguards the international standing of the UAE financial system.

🔹 What’s Next
Central bank auditors will continue inspecting foreign branch operations across the country to verify compliance. Compliance teams at commercial banks will monitor incoming wire transfers to ensure no funds route through prohibited accounts.

• Auditing Foreign Lenders: Regulatory teams will inspect international banking branches operating in local jurisdictions.

• Monitoring Payment Channels: Compliance leads will update payment filters to block transactions involving restricted entities.

Microsoft Bets $10 Billion on Gulf AI and Cloud Expansion

🔹 What Is It About

Microsoft plans to invest more than $10 billion across the UAE, Saudi Arabia, Qatar and Kuwait through 2030, expanding its cloud, AI infrastructure and regional operations. The company will also spend more than $400 million on subsea and terrestrial connectivity across the Middle East. Microsoft President Brad Smith said the Iran war has not reduced its ambitions, describing its plans as an “aggressive spending schedule.”

🔹 Why It Matters

The investment underscores the Gulf’s growing position in the global AI infrastructure race. Microsoft already invested $1.5 billion in Abu Dhabi’s G42 in 2024 and is working with Saudi Arabia’s HUMAIN and Qatar’s Qai. The Iran war has also put digital resilience higher on the agenda after damage to AWS facilities in Bahrain and the UAE highlighted the physical risks facing critical cloud infrastructure.

🔹 What’s Next

Microsoft has not disclosed how the $10 billion plus will be divided between the four countries or individual projects, partly citing security considerations. Watch for new data centers, connectivity infrastructure and AI partnerships as Gulf governments continue attracting global technology investment while strengthening protection for critical digital infrastructure.

Dubai Billionaire Hussain Sajwani Linked to Manchester United Stake

🔹 What Is It About

Dubai billionaire and DAMAC Properties founder Hussain Sajwani has been linked to potential interest in Manchester United as some members of the Glazer family reportedly consider selling part or all of their remaining stake. The Glazers currently control 67.9% of voting rights, while Sir Jim Ratcliffe’s INEOS holds 28.9% and oversees football operations. Crucially, no formal bid from Sajwani or DAMAC has been confirmed, meaning the reports remain speculative.

🔹 Why It Matters

Sajwani would bring something different from the Gulf investors previously linked with Manchester United: decades of large scale property development experience. That could become relevant as the club weighs the future of Old Trafford and a wider regeneration project around the stadium. Sajwani also represents private Emirati capital, rather than a sovereign wealth fund, distinguishing any potential investment from the ownership model seen at clubs such as Newcastle United.

🔹 What’s Next

The key question is whether reported discussions within the Glazer family develop into an actual sale process. A full takeover would require substantial capital beyond acquiring the family’s remaining interest, particularly with stadium redevelopment potentially adding billions more. That could make a minority investment, consortium or stadium linked structure possibilities if Sajwani were to pursue the opportunity. For now, there is no confirmed offer, valuation or indication that formal negotiations have begun.

Content, Connections, Deals: DICM 2026 Opens Registration

The Dubai International Content Market (DICM) returns to the iconic Madinat Jumeirah on 10–11 November 2026, bringing together the region's largest gathering of content and entertainment professionals. Named the Best Annual Media Industry Event in MENA, DICM is the go-to marketplace for buying, selling, co-producing and distributing content across TV, film, streaming and digital platforms.

Expect 100+ exhibiting companies, over 1,000 media executives from 55+ countries, and access to the Content Business Hub — DICM's matchmaking platform that lets buyers and sellers pre-schedule meetings up to six weeks before doors open. Whether you're scouting new IP, seeking co-production partners, or expanding into the fast-growing Middle East and Africa markets, DICM delivers the connections and deal-flow to make it happen.

Registration is now open. Secure your spot at one of MENA's pivotal media industry events.

👨‍💻From Smashi Business’ Desk

• UAE Billionaire Al Habtoor Mourns Passing of HH Sheikh Ahmed bin Rashid Al Maktoum

• Yara Alnamlah’s Moonglaze Hits Sephora Billboards Ahead of Saudi National Day

• Dubai based The Giving Movement CEO Rania Masri El Khatib has spoken out after Macklemore was removed from Ed Sheeran’s US tour following his support for Palestine.

• ‘Stop Sexualizing the Gym’: Squatwolf Founder Slams Sydney Sweeney’s Controversial Ad

🔍In other news…

• Engineers India Eyes Gulf Growth as Saudi, UAE Build Hormuz Bypass Infrastructure

• ADNOC Distribution Plans $1 Billion Egypt Expansion With 400 New Stations

• Mubadala Eyes Ansaldo Energia Stake as AI Drives Power Demand

• US Clears Gulf Funds to Raise Stakes in Paramount Warner Deal

• Cristiano Ronaldo Joins $500M Bid for Stake in Al Nassr

🦄 World of Startups

• Tabby, Saudi-based BNPL, raised $233M in a Series F equity round at a $6.5B valuation.

• OCTA, USA-based accounting platform, raised $3.5M in a seed funding round led by Middle East Venture Partners (MEVP) and joined by Wa'ed Ventures, Plug and Play, and A-typical Ventures, Sukna Ventures and Sadu Capital.

• Rize, Saudi-based residential rental platform, secured a $50M (SAR 187.5M) asset-backed Murabaha facility from Jadwa Investment.

• Bekia, Egypt-based recycling technology startup, raised $765K in a seed funding round led by Madica, joined by Catalyst Fund and Jambaar Capital.

• Lendo, Saudi-based Shariah-compliant debt crowdfunding marketplace, secured a commitment of up to $200M (SAR 750M) from Quantic Financial Solutions GmbH, Austria-based asset management fund.

• Saudi Arabian building materials platform BRKZ has secured $31 million in new funding.

• Saudi digital payments company Barq has raised $329.5 million in a Series A round, valuing the fintech at $1.85 billion.

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