03/13/2020
Erdogan faces challenge as former ally launches rival party
Ali Babacan criticises Turkey president’s ‘misguided’ economic management
Legal, Tax, Regulation & Compliance
03/13/2020
Kuwait central bank ready to provide cash to banks over coronavirus outbreak
Other measures included suspending fees on point of sales devices and ATM withdrawals
03/13/2020
Oman Insurance said to mull bid for Axa's Middle East ops
Sources say company is working with Barclays as it weighs potential offer for Axa business
03/13/2020
Bahrain c.bank cuts overnight lending rate to 2.45%
It cut the rate to "to ensure the smooth functioning of the money markets in Bahrain"
03/13/2020
Ex-Barclays CEO Varley Faces Quizzing in $2 Billion Suit
Former banker Jenkins also to face questions during June trial
03/13/2020
Commercial Bank of Dubai okays up to 40% ownership for non-UAE nationals
CBD's shareholders also approved the distribution of 20.7% cash dividends
03/13/2020
Iran asks IMF for $5 billion emergency funding to fight coronavirus
A slowdown in economic activity caused by the virus outbreak and a sustained closure of its borders are expected to lead to a contraction this year.
03/13/2020
Director of FX broker Numex gets 8-year ban
Ehsan Tayefi, director of Numex Foreign Exchange Corporation (UK) Ltd, is now banned from acting as a director or directly or indirectly becoming involved in the promotion, formation or management of a company.
03/12/2020
Muddy Waters founder calls new NMC Health debt 'a massive fraud'
How a $2.7bn hidden debt tips the troubled UAE-based hospital operator into a full-blown accounting scandal
03/12/2020
UAE Central Bank to support banks in Covid-19 impact
Central bank assures all support to maintain stability of the UAE banking system
03/12/2020
Banque Havilland Investigated by FCA Over Qatar FX Manipulation
The lender has had communications with both regulators, a lawyer for the bank said March 5 outside of court.
03/11/2020
Lebanon banks agree to ease some curbs on cash-starved depositors
Banks would not be allowed to withhold any part of money freshly transferred into a Lebanese account.
03/10/2020
Emirates NBD Digitizes Trade Finance With LiquidX
The trade involved a major crude oil producer from the Middle East selling to a large Singaporean global commodity trader.
03/10/2020
Tunisia cuts 2020 growth forecast, seeks new IMF deal
Tunis struck a deal with the fund in December 2016 for $2.8 billion package
03/10/2020
Saudi's Petrochem signs $800mln financing deal with Samba, Riyad Bank
The credit facility's duration is four years, to be repaid in 8 semi-annual scheduled installments
03/10/2020
Central Bank of Bahrain bans freezing of accounts after job loss
The central bank said that the move is aimed at ensuring sound and fair banking practices, taking into consideration the interests of customers
03/09/2020
Saudi bank loans granted to public, private sectors increase 8 percent
In the meantime, the worth of loans provided to the public sector grew by 5 percent yearly to SAR 57.9 billion by the end of January.
03/09/2020
Central bank of Bahrain to verify compliance by insurers
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa said the CBB will co-ordinate efforts with Bahrain Insurance Association’s health insurance committee to this effect.
03/09/2020
Bahrain's Shura set to vote on new bankruptcy law
The changes are set to be debated and voted on during Sunday’s weekly session of the Shura Council
03/09/2020
Coronavirus: UAE airlines offer refunds, free travel date change
In light of restrictions brought about by the Covid-19 virus.