08/13/2020
Oman secures $2bln bridge loan - sources
The loan, which will be repaid with money raised from an international bond issuance, will bolster state coffers hit by low oil prices and the economic downturn caused by the coronavirus crisis
Legal, Tax, Regulation & Compliance
08/13/2020
IMF Grants Egypt $5.2 Billion Loan
Egypt’s central bank recently announced that net international reserves reached $38.31 billion at the end of July.
08/13/2020
Samba Financial Group Chooses Dubai International Financial Centre for International Operations
The DIFC’s robust legal and regulatory framework, alongside its highly developed and comprehensive financial ecosystem, continues to be a catalyst for growth in regional banking.
08/12/2020
Private firms told to cut Saudi staff enjoying compensation
Government had earlier announced financial compensation under SANED in the wake of the measures taken to mitigate the economic impact of pandemic
08/12/2020
Lira rebounds after Turkey ditches cheap bank funding
The central bank halved the amount in an earlier move.
08/12/2020
Kuwait: Parliament to Discuss 7 Bills Aiming at Reducing Expat Population
The committee rapporteur, MP Osama Al-Shaheen, said that the Ministry of Social Affairs presented short and long term solutions, revealing the ministry laid down a plan to terminate the services of 360,000 expatriate workers.
08/12/2020
Turkey turns to BCG to help boost US economic trade
TAIK has already been working with BCG to find ways to achieve a bilateral trade volume of $100 billion between the two countries.
08/12/2020
Lebanon’s Offshore Governor
Much of his money went to the U.K., a favorite destination for overseas investors looking for a discreet place to make their money grow.
08/12/2020
EBRD fosters private businesses in Egypt
The EBRD expects to dedicate the entirety of its activities to combating the economic impact of the crisis and stands ready to provide support worth €21 billion over the 2020-21 period, in order to help the 38 emerging economies where it invests.
08/12/2020
Kuwait May Deport 360,000 As Gulf’s Expat Exodus Continues
At the same time, the government is trying to reassure the country’s own citizens they will not suffer from the economic downturn.
08/12/2020
Samba Financial gains approval for DIFC branch
The lender gained approval to offer 'selected financial services to professional clients and market counterparties' from the financial free zone
08/11/2020
Kuwait's parliament reviews proposals to cut expat numbers
Kuwaiti MP Khalil Al-Saleh, who head the committee panel, said the committee plans to meet with the minister of social affairs, Mariam al-Aqeel.
08/11/2020
Union Properties inks debt deal with Emirates NBD
The developer recently unveiled a three-year plan to turn around its fortunes after several years of underperformance and mounting losses
08/11/2020
Lebanon's FFA Private Bank teams up with Ankura
With the business scene crumbling, banks are facing rapidly growing non-performing loans and asset risks on their balance sheets.
08/11/2020
Saudi G20 Presidency and BIS Innovation Hub update on the progress made in the G20 TechSprint initiative
The G20 TechSprint initiative, launched in April 2020, aims to highlight the potential for technologies to resolve regulatory compliance (regtech) and supervisory (suptech) challenges.
08/11/2020
Saudi governor reviews NGOs integration efforts
Prince Faisal called on all stakeholders to take advantage of the initiatives introduced by the council to achieve their objectives to serve national interests.
08/11/2020
Saudi anti-graft watchdog probes 218 cases
Businessmen, Shura Council member, ex-judge, notary officer, ex-police director arrested
08/11/2020
Italian FinTech partners with Abu Dhabi company on scheme to offer loans
Agreement between Supply@ME and iMass investments will trial an inventory monetisation programme with Abu Dhabi-based manufacturers and lenders
08/10/2020
UAE central bank temporarily relaxes rules on liquidity, funding for banks
Banks will be allowed to go below the 100% 'net stable funding ratio' but not below 90%
08/10/2020
Philippines open to Qatar investments in digital banking, says central bank official
In light of the progress the Philippines has made in Islamic banking, she stressed that offering a Shariah-compliant digital solution to the market 'will be very attractive.