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
Legal, Tax, Regulation & Compliance
05/15/2020
Linklaters Plans Third Middle East Office
The law firm is expected to launch an office in Riyadh.
05/15/2020
European bank loans Turkey’s QNB Finansbank $108M
European Bank for Reconstruction and Development loan to help Turkish lender support trade, SMEs amid virus crisis
05/14/2020
UAE ministries may be merged, authorities changed: Sheikh Mohammed
The world will not be the same after Covid-19, said the Vice-President.
05/14/2020
Combating coronavirus: All UAE expats exempted from visa fines
Three-month grace period from May 18 set for residency violators expats to avail of fines exemption.
05/14/2020
Sheikh Mohammed grants 10-year Gold Card visas to Dubai doctors battling Covid-19
Gold Card holders are granted long-term residency visas covering them and their families without the need of a sponsor
05/14/2020
UAE expats 'exempt from all fines' for 3 months
The new announcements includes residency and work permits, and identity cards.
05/13/2020
Moelis & Co granted advisory licence in Saudi Arabia -CMA
The licence will allow Moelis to conduct arranging and advisory activities in the kingdom, the CMA said.
05/13/2020
FAB and Bahrain Clear sign depository agent agreement
FAB will provide custody, issuer and transfer agent services, fund administration and other related banking services to its regional and international clients
05/13/2020
Lebanon to start IMF negotiations in next two days, says minister
Lebanon defaulted on its foreign currency debt in March, while its currency has lost more than half its value since October.
05/13/2020
Dubai watchdog fines two firms and three directors
But they will contest the prohibition orders and penalties at a tribunal
05/13/2020
Forensic auditor to review every transaction at Lebanon’s central bank
Under the plan, the government is also seeking a $10 billion bailout from the International Monetary Fund (IMF) and to unlock a further $11 billion in conditional aid pledges from 2018.
05/13/2020
Central Bank of Kuwait reports BoP surplus of KD 821.2 mln. in '19
The overall BoP showed a surplus of KD 3.7 billion (USD 12.3 billion) last year
05/13/2020
Jersey Royal Court imposes substantial fine for inadequate AML policies and procedures
As the Court noted, the Jersey branch "was not, therefore, in terms of its size, a substantial operation".
05/13/2020
Dubai businesses ask for more state help to survive coronavirus
Proposals include reduction of utility costs, customs duties and expats’ residency fees
05/12/2020
Pandemic shock leads to ‘overhaul’ of Saudi finances
Bold measures set to save $26 billion with proceeds to help businesses get back on their feet
05/12/2020
Saudi move could be followed by more tax hikes across Arab world
The GCC countries have been facing a challenge that did not exist back in 2008, which is the drop in oil prices
05/12/2020
IMF approves $2.77 bn in emergency pandemic aid for Egypt
Egypt’s Health Ministry reported 346 new cases of the novel coronavirus on Monday, bringing the total number of confirmed cases to 9,746, including 533 deaths.
05/12/2020
DFSA takes regulatory action against two firms and three individuals
Al Masah Capital and Al Masah Capital Management face fines
05/12/2020
Bin Aweidha confirms to Banking Day that World Investments plans to go ahead with Xinja funding
On March 24, Xinja released a statement saying that World Investments had pledged to invest A$433 million in the bank.