05/21/2020
Kuwait banks are fully committed in their fight against money laundering and terror financing
Financial penalties up to a maximum of $1.6mln
Legal, Tax, Regulation & Compliance
05/21/2020
Fiscal Nightmare Ties Up Kuwait’s Stimulus With 40% Deficit
A government announcement this week that could result in added assistance for Kuwaitis in the private sector might stretch the budget deficit further.
05/21/2020
Moody’s affirms QIIB rating at ‘A2’ with stable outlook
In its affirmation of the bank’s rating, Moody’s indicated that it was based on a number of factors, the most important of which is that QIIB is one of the leading Islamic banking institutions in the State of Qatar, especially in the retail se
05/21/2020
Dentons four-day week gets go-ahead
Staff vote in favour of move to curb financial impact of pandemic
05/20/2020
Egypt says proposed standby funding from IMF aimed at helping businesses
“The 2016 programme was more on the fiscal and monetary side,” Saeed said. “After the success of the first phase of reform, we are continuing the structural reform programme.”
05/20/2020
Qatar Central Bank announces Eid Al Fitr holiday
The bank said in a circular that all financial institutions operating in the state must fully close all its branches during the vacation period.
05/20/2020
New banking regulations threaten press freedom in Turkey
Recent measures seeking to limit damaging information on the financial system pose new threats to press freedom in Turkey.
05/20/2020
BNP Paribas’ FX Prime Brokerage Unit Halts Turkish Lira Trades
The decision comes barely one week after Turkey’s regulator lifted a ban they imposed earlier this month on BNP Paribas.
05/20/2020
Turkey exempts Euroclear, Clearstream from trade limit
2 financial institutions exempted from Turkish lira transaction limit, says banking watchdog
05/20/2020
Turkish state owned Vakifbank obtains banking licence from Qatar
Permission to operate comes as opposition claims Doha is planning to buy shares from the bank
05/19/2020
UAE Securities And Commodities Authority Discusses With The Capital Markets Advisory Committee Initiatives To Regulate The OTC Market And Its Precautionary Measures To Contain The Consequences Of COVID-19
They reviewed SCA’s initiatives and the preventive and precautionary measures it took to limit the consequences of COVID-19 and contain its negative effects on financial markets.
05/19/2020
Service Quality and Resilience are Key in Current GCC Environment
The region has also seen governments introduce a range of fiscal and monetary measures to support businesses through these challenging times.
05/19/2020
Saudi Arabia's PIF buying spree is vote of confidence in pandemic recovery
The PIF buying spree helps shift its portfolio away from a concentration on Saudi Arabia and its big projects
05/19/2020
VakıfBank becomes first Turkish lender to obtain license in Qatar
The bank plans to launch its operations in Qatar after the coronavirus pandemic, said Abdi Serdar Üstünsalih, the bank's general manager.
05/18/2020
Saudi Arabia's sovereign wealth fund seeks $10bn margin loan
Public Investment Fund is pledging some of its stakes in SoftBank Group's investment vehicle to shore up liquidity
05/18/2020
A private client’s guide to DIFC Foundations
DIFC Foundations are fully recognised under UAE law.
05/18/2020
Dubai Islamic Bank donates AED16 million to Zakat Fund projects
He also called on Islamic banks and institutions to follow the initiative of the Dubai Islamic Bank to provide zakat money to deserving groups and help the Zakat Fund achieve its goals.
05/18/2020
NIB approves capital hike for aiBANK
aiBANK is a subsidiary of NIB
05/17/2020
Arab Monetary Fund disburses to Kingdom of Jordan the second tranche of the loan
$38mln to support reform efforts in face of various challenges
05/15/2020
Linklaters Plans Third Middle East Office
The law firm is expected to launch an office in Riyadh.