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Legal, Tax, Regulation & Compliance

05/11/2020

Dubai real estate fund says irregular trading dented share price

The company has been “increasingly concerned that our share price is trading at unusually low levels, compared with the rest of the REIT market, and that it has experienced unusual price movements.

05/11/2020

Qatar Central Bank Is “Actively Working” on Fintech Initiatives, and Exploring Blockchain Use Cases

The QDB aims to improve credit access and will help SMEs in taking part in the country’s evolving economy, Sheikh Abdulla stated.

05/11/2020

UAE criticised for ‘ineffective’ sanctions and money laundering efforts

The country’s effectiveness in investigating and prosecuting money laundering, penalising firms for facilitating financial crime and co-operating with authorities in other countries were all deemed “low” – the FATF’s lowest s

05/10/2020

The IFSB and AMF renew Mou to support the development of the Islamic finance among member countries

The continuation of collaboration signifies the commitment of both institutions in increasing awareness and promotion of the sound practices of Islamic finance based on its tremendous potential for the advancement of financial services industry.

05/10/2020

GCC arbitration centre gets $5.5m claims in Q1

Secretary General In charge Nasser Al Mogahwi said the arbitration centre has been strictly following its 'not more than only one claim each month' policy

05/10/2020

Syria’s money man falls foul of Basher al-Assad’s ruling family

The billionaire Rami Makhlouf bankrolled his cousin the president’s war, but now the regime is turning on him

05/08/2020

UAE criticised for ‘ineffective’ sanctions and money laundering efforts

The accusations are made by the Middle East and North Africa division of the Financial Action Task Force

05/07/2020

Over 1,000 DIFC companies enrol in end-of-service scheme

It represents 85% of all eligible organisations in the Dubai-based financial centre

05/07/2020

QCB launches instructions for financial institutions to address coronavirus risks

The QCB’s step is in light of the current conditions in the world and the region and to complement the precautionary efforts and measures taken by the State of Qatar to prevent and reduce the spread of Covid-19.

05/07/2020

Turkey push for cheap credit pays off as banks turn on taps

In Turkey, that drive resulted in deep interest-rate cuts and a series of regulations aimed at forcing banks to lend, including a new asset ratio introduced last month.

05/07/2020

Qatar Wealth Fund seeks $7.6 billion loan backed by stock

Qatar Investment Authority is in discussions with banks for a margin loan

05/07/2020

UPDATE 2-Junk-rated Bahrain to brave markets with dollar bond issues

The International Monetary Fund has said Bahrain’s fiscal deficit is expected to jump to 15.7% of gross domestic product (GDP) this year from 10.6% in 2019.

05/07/2020

UAE launches initiative for Islamic finance

The Islamic finance sector will benefit greatly from a unified international legal and legislative framework.

05/07/2020

EBRD provides US$ 175 million financing package to Turkey’s DenizBank

Of the new funds, US$ 100 million will be dedicated to support DenizBank’s financial instruments and products that facilitate international trade and finance.

05/07/2020

Investcorp forms JV with Tages Group to create investment platform with $6bn in assets

The two partners have no client overlap and the merger of their units will help expand their client relationships and geographical reach

05/06/2020

Saudi Arabia announces penalties for those breaching coronavirus measures

The announcement also specified punishments for those spreading COVID-19 related rumors

05/06/2020

UAE banks will be able to 'manage' COVID-19 economic shock - Central Bank

Central Bank governor says it's still too early to gauge extent of pandemic's economic fallout

05/06/2020

QCB to encourage venture capital financing, start-up development: Sheikh Abdull

In order to provide a national-level, comprehensive strategy for the sector, a clear definition of SMEs was provided and measures were undertaken to reduce barriers to bank lending for these entities.

05/05/2020

Coronavirus: UAE Higher Sharia Authority approves COVID-19 parameters

Body urges Islamic financial institutions to join in supporting affected sectors, people

05/05/2020

Gold is well-positioned as a hedge against inflation risk from expansionary fiscal and monetary policies

This goes against gold’s embedded characteristics, but we think that the unique circumstances at the time of that selloff are likely in the rear view.

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