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Legal, Tax, Regulation & Compliance

09/22/2020

Al Baraka to change the operational structure of its parent company in Bahrain

The Group’s banking subsidiaries, including Al Baraka Islamic Bank, Bahrain, will continue their banking activities

09/22/2020

Creditors take action against UAE's Al Jaber in decade-long saga

The move follows delays in restructuring agreements, under which Al Jaber was to appoint a new board and sell companies and assets such as the Shangri-La hotels in Dubai and Abu Dhabi.

09/21/2020

Retire in Dubai: costs revealed

After a huge response there is now more information available for over 55s looking to retire in Dubai

09/21/2020

Deutsche Bank: Suspected of facilitating funds to Daesh in Iraq

Despite this, some banks, including Deutsche Bank and specifically its US branches, continued to allow money transfers to be sent to Iraq despite the group’s control over large parts of the country.

09/18/2020

Abu Dhabi Islamic Bank signs MoU with Israel’s Bank Leumi

The agreement will allow Israeli clients to transact directly in the UAE.

09/18/2020

United Arab Emirates: Economic substance regulations amended and replaced

The new regulations and guidance have introduced important changes to the scope of the ES regulations, covered entities, compliance requirements, and governing authorities.

09/17/2020

UAE Ministry of Finance launches third generation e-Dirham system

e-Dirham mobile app Mubasher and three prepaid cards with integrated benefits unvielied

09/17/2020

UAE tech sector needs to get hiring right

Winning government contracts and not doing anything to recruit nationals is unacceptable

09/17/2020

Qatar's QDB extends loan guarantee program by three months, lifts ceiling - QNA

The cabinet decision also raised the ceiling of the guarantees to 5 billion Qatari riyals, from 3 billion.

09/17/2020

Iraq's inability to borrow money has 'plunged it into crisis'

In recent weeks, the Iraqi the government rejected the borrowing terms of the International Monetary Fund and the World Bank.

09/17/2020

UAE Central Bank reviews continuous development plans, new initiatives

The board members addressed the bank's operational plans and approved the consumer protection framework and regulatory oversight of the UAE banking industry.

09/16/2020

CBE Urges Banks to Offer Facilities As Six-Month Suspension of Loan Installments Ends

The CBE also called for taking into consideration the importance of avoiding any pressure on companies' financial liquidity.

09/16/2020

Bank Audi to sell units in Jordan and Iraq to Capital Bank

Talks on selling Egyptian business to restart with First Abu Dhabi Bank

09/16/2020

Israel's Leumi signs deals with First Abu Dhabi Bank, Emirates NBD

Leumi said its agreements with the UAE banks would help enable the countries to implement economic relations.

09/16/2020

UAE committed to financial action task force standards, central bank governor says

The country has strict laws and mechanisms to deal with money laundering and the financing of terrorism

09/16/2020

Trump: Israeli pacts with 2 Arab states signal 'new' Mideast

The agreements formalize the normalization of Israel's already warming relations with the United Arab Emirates and Bahrain.

09/15/2020

Bank of Bahrain and Kuwait to take over Ithmaar Bank’s Bahrain operations

Deal also extends to acquiring certain assets of IB Capital, owned by Ithmaar

09/15/2020

Russia's Sberbank to target Middle East investors with UAE subsidiary

The state-owned bank said Sberinvest Middle East would engage in trade finance of Russian exports to the Middle East

09/15/2020

A&O advises on sale of stake in The Saudi British Bank in rare accelerated bookbuild

They were supported by associates Aria Howorth Oram in London and Ruqaiya Ali in Dubai.

09/15/2020

Latham Advises the Government of Dubai on High-Profile US$1 Billion Sukuk and US$1 Billion Notes Issuance

The Certificates and the Notes were each offered to investors outside the United States pursuant to Regulation S under the US Securities Act of 1933, as amended.

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