05/04/2020
GCC's road to recovery amidst the Covid-19 pandemic
The region benefits from strong sovereign wealth funds and foreign currency reserves that could provide support in the short-term.
Legal, Tax, Regulation & Compliance
05/04/2020
Israel Enlists Money Managers to Help Fund Struggling Startups
Israel’s tech sector -- including ore than 6,000 startups -- is a critical component for the country, accounting for about 10% of all jobs.
05/04/2020
Saudi fiscal adjustment preferable to a devaluation
Pressure on the peg has again intensified with low oil prices and a drawdown of reserves
05/04/2020
LOOMING RECESSION: Difficult times ahead, Okonjo-Iweala warns
If you look even in the Middle East, where you have countries like Kuwait, UAE among others, you have so many countries that are commodity dependent but they save and save because what goes up must come down.
05/04/2020
Al-Jadaan reveals full extent of Saudi Arabia’s pandemic challenge
The double whammy of declining economic activity and falling oil revenue make drastic and speedy action inevitable for the Kingdom, Al-Jadaan indicated.
05/04/2020
Virus may force Kuwait Finance and Bahrain’s AUB to reassess merger
Last year, Kuwait Finance House offered to buy Ahli United Bank in an all-share deal that was valued at about $8.8bn
05/01/2020
Egypt's NBE denies cancelling 15% yield certificates
NBE has sold $4.76bln of the 15% yield certificates
05/01/2020
Bank Hapoalim to Pay $874 Million to Settle U.S. Tax Charges
As part of the tax-evasion settlement, Bank Hapoalim B.M. admitted the firm conspired with U.S. taxpayers
05/01/2020
SAMA values support by Saudi banks amounting to 100 million riyals
The companies have joined the list of others permitted in the 2 previous cohorts, bringing the total number to 30.
05/01/2020
QIB’s Gamal warns of profit threat to every bank
Profit pressure is a threat to every bank, says Qatar Islamic Bank’s group CEO Bassel Gamal
05/01/2020
Beware of 'phishy' numbers
While economies are dwindling, fraudsters are taking advantage of 'insecure' people
04/30/2020
Banque du Liban governor: State spenders must be held accountable
Syria accuses Lebanese parliament speaker of corruption
04/30/2020
Saudi G20 Presidency and the Bank for International Settlements Innovation Hub invite global innovators to find solutions to the most pressing financial regulatory & supervisory challenges
The BIS Innovation Hub, through its Singapore Centre, and the Saudi G20 Presidency have published high-priority RegTech/SupTech operational problems and invite private firms to develop innovative technological solutions.
04/30/2020
What Asia-Pacific Can Learn From EU’s Open Banking Initiatives
Regulators are determining how to change these standards and where they apply for best results in a way that keeps both FIs, third-party providers and consumers as safe and secure as possible.
04/29/2020
Bank closes Jersey branch after £475,000 fine
The company admitted the breaches and, in the judgment, the court said that if the regulations were not followed it would impact on the Island’s reputation as a finance centre.
04/29/2020
Coronavirus: Hackers pose as Dubai Police to steal bank details
British businesswoman targeted by fraudster recounts experience
04/29/2020
Blockchain could be a solution to supply chain problems
The World Economic Forum rolled out a guide for deploying the technology
04/28/2020
Egypt seeks aid from IMF amid virus downturn
PM Mostafa Madbouli says IMF aid package crucial as flights are grounded and tourism halted
04/28/2020
Combating coronavirus: Dubai warns of $10mln loan scheme fraud
DFSA had earlier warned consumers about an increase in scams and other fraudulent activity since the onset of Covid-19.
04/28/2020
Lebanese banks set rate of pounds per dollar for withdrawals from dollar accounts-sources
According to a central bank circular last week, depositors with dollar accounts in Lebanon will be paid cash in the local currency