05/27/2020
Emirates NBD transforms property rental with finance program
While landlords can benefit from receiving the entire rental amount for the year upfront offering access to improved cash flows.
Legal, Tax, Regulation & Compliance
05/27/2020
We’ll beat this: Crown prince vows Saudi Arabia will overcome virus pandemic
The Kingdom celebrated the first two days of Eid under a 24-hour lockdown to curb the spread of COVID-19, but restrictions will be eased from Thursday, Health Minister Dr. Tawfiq Al-Rabiah said on Monday.
05/26/2020
Lebanon's government welcomes banks' input in rescue plan
The government will continue engaging with the association and its advisers to seek solutions to the crisis, it added.
05/26/2020
UAE Exchange starts issuing refunds – report
UAE Exchange, which operates more than 100 branches across the country, stopped all transactions in March
05/26/2020
FAM Properties responds to Damac legal claims
The dispute began when the developer received complaints from clients about e-mails sent to them by FAM Properties
05/26/2020
Mashreq provides help to a quarter of its retail clients through Covid-19 scheme
The lender says most requests are for payment holidays on credit cards and personal loans
05/24/2020
English High Court rules former Leeds United MD David Haigh rebranded as #FreeLatifa “human rights lawyer“ a “fraudster”
High Court rules to retrieve Haigh’s hotel and farm, bought with embezzled funds.
05/22/2020
Lebanese PM: central bank to intervene to protect Lebanese pound
The pound has lost more than half of its value since October.
05/22/2020
Doing business in The United Arab Emirates
The population of the UAE has tripled since 2000 to nearly 11 million, 90% of whom are foreign-born workers employed in a wide range of industries.
05/22/2020
Emirates NBD and Urban partner to create a financing program
Following the partnership with the bank, Urban tenants can now look forward to paying their rent on a monthly basis in any Urban property through a customised rental loan, thereby enabling them to enjoy payment flexibility and convenience.
05/21/2020
Dubai’s ICD faces ‘adjustment’ in wake of pandemic downturn
In addition to Emirates NBD and the Emirates aviation business, the ICD also holds several other assets regarded as the jewels in the crown of the Dubai business scene.
05/21/2020
GCC banks consolidation drive to continue in 2020, says KPMG
Credit growth is not expected to pick up significantly from last year given the economic impact of Covid-19 and significant fall in oil prices.
05/21/2020
Fraudster David Haigh loses English court action to avoid $6m debt recovery
'No realistic prospect of convincing court that allegations of fraud were incorrect'
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
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.