08/28/2020
Controversy Erupts Over Stanley Fischer’s Candidacy for Israel's Bank Hapoalim Board
Government nominating committee approved candidacy of former Bank of Israel chief over objections by one member
Legal, Tax, Regulation & Compliance
08/27/2020
NMC Health faces advisory fees of $140m for bankruptcy
NMC’s court-appointed overseers are applying for bankruptcy proceedings through ADGM
08/27/2020
Turkish firms play intermediary role in Central Asian money laundering operation
Over a dozen businessmen told the RFE/RL and OCCRP investigation that trucks connected to the Abdukadyr family’s cargo empire were sped through border posts by Kyrgyz customs agents who otherwise obstructed competing companies.
08/27/2020
Nasdaq Dubai signs agreement to attract Chinese listings
In the case of shares, this will enable companies to join Nasdaq Dubai’s Private Market, which can be the start of a journey towards a capital market transaction.
08/27/2020
Israel’s Bank Leumi negotiating collaboration with Emirati bank, reveals Leumi exec
“We, at Leumi, believe there is a golden opportunity for collaborations here and we intend to be an active party,” said Shmulik Arbel
08/26/2020
KPMG moves to “world-class” office in Dubai’s Central Business District
The firm is also upgrading its Abu Dhabi office
08/26/2020
Federal Council adopts dispatches on new double taxation agreement with Bahrain and amendments to DTA with Kuwait
The new DTA with Bahrain in the area of taxes on income and capital improves matters for cross-border investments.
08/25/2020
CII bolsters Saudi Arabia adviser education programme
It is a ‘very significant development for the Middle East’s insurance and financial planning sectors’
08/25/2020
Ras Al Khaimah reduces license renewal fees, waives fines in new COVID-19 relief measures
Businesses affected by lockdown measures will see full benefits from move
08/25/2020
Bahrain raises debt ceiling to finance public spending - cabinet
The debt ceiling was also increased to pay for other expenditure and to cover debt instalments for the financial years 2020 through 2022
08/25/2020
Bahrain's GFH Financial picks up majority in Global Banking Corp.
Bahrain's GFH Financial picks up majority in Global Banking Corp.
08/25/2020
Ahmad Abu Eideh, CEO, United Arab Bank
In the case of the UAE, the full impact of the Covid-19 outbreak has been cushioned by the government stimulus measures, which were announced and executed earlier here than in other Gulf countries.
08/25/2020
The Quiet Man in Stockholm Who Laundered China’s Oil Money for Iran
Unlike Zarrab, Nema has faced no charges for helping Iran evade sanctions.
08/24/2020
QFCRA agrees settlement with GlobeMed Qatar
The settlement agreement resolves the matter to the satisfaction of the regulatory authority, the statement added.
08/24/2020
ENBD REIT hedges AED 400m facility with Mashreq Bank
Shari'a-compliant profit rate swap with Mashreq Bank will hedge 56% of ENBD REIT's total outstanding debt
08/24/2020
DIFC Courts leverages digital infrastructure to accommodate rapid rise in commercial claims
Surge in main court cases, revealing a 96% increase year-on-year
08/24/2020
Kuwait to transfer 2b dinars to General Reserve Fund
Newly injected liquidity to cover government’s budget shortfall
08/23/2020
Israeli, UAE law firms to collaborate on framework for business ties
The presentations will largely focus on taxation, banking, the structure of the legal system and business opportunities in their respective countries.
08/23/2020
BAB organises series of meetings on financial disputes’ settlement
Adnan expressed gratitude to Sheikh Khalid bin Ali Al Khalifa, the Minister of Justice, Islamic Affairs and Waqf and Rasheed Al Maraj, Governor of Bahrain’s Central Bank
08/21/2020
Kuwait passes law to protect ailing companies, attract investors
The new law does not treat failure to pay debt as a criminal offence