04/15/2020
IMF warns ‘vulnerabilities high’ in the Middle East hit with dual shock of coronavirus and oil plunge
That’s worse than the Fund’s forecast for the world economy, which is expected to contract by 3% this year.
Legal, Tax, Regulation & Compliance
04/14/2020
UAE central bank urges commercial lenders to use stimulus scheme
Since the launch of the support scheme on March 14, the central bank has provided 10 billion ($2.72 billion) dirhams to banks in the form of zero interest funding
04/14/2020
Egypt postpones Banque du Caire stake sale due to coronavirus: chairman
The sale would be Egypt’s biggest sale of state assets since 2006.
04/14/2020
Jordan's banks to cut rates by 1.5% to spur economy hard hit by COVID-19
The central bank had announced a package of measures to help troubled businesses and individuals
04/14/2020
Saudi regulator revises initiatives to help banks fight COVID-19 challenges
Supervisory and inspection visits to finance companies postponed until further notice
04/14/2020
Misr Life Insurance’s “Maash Bokra” Pension Policy Is Now Available Exclusively To Clients Of NBE
The insurance sector is considered a transactions mediator and is the most adept for investing in the short, medium and long term, thus the introduction of products to meet customers’ needs in various sectors will help the growth of the national eco
04/14/2020
UAE ranks world's third largest gold purchaser
The past two months clearly suggest gold continues to be an important component of foreign reserves despite heightened levels of demand in recent years.
04/13/2020
Turkey says it’s not planning to make deal with IMF
Turkish officials have reportedly been talking to US and other G-20 central banks about arrangements that would allow monetary authorities to exchange currencies
04/13/2020
UAE banking sector fully geared to support the economy: Al Ghurair
Central Bank and the government initiatives are sufficient to mitigate current risks
04/13/2020
UAE Central Bank urges bank chiefs to support SMEs and individuals as it disburses Dh10bn of zero interest loans
The aggregate value of all capital and liquidity measures adopted by the CBUAE under the Targeted Economic Support Scheme is Dh256bn
04/13/2020
Kuwait Finance House postpones AUB deal process until December
The postponement came under the guidance of the regulatory authorities in the two countries
04/12/2020
Jurisdictions move towards full implementation of standards for financial market infrastructures
The CPMI and IOSCO encourage jurisdictions to continue to adopt measures that will enable them to fully implement the PFMI.
04/09/2020
Regulatory, stimulus measures to help UAE banks repel virus
The central bank last week doubled the size of its stimulus package
04/09/2020
Lebanon Draft Crisis Plan Sees Need for $10 bln-$15 bln and Depositor Contribution
It sets out a restructuring of the central bank and commercial banks to include “a transitory exceptional contribution from large depositors” and outlines a special fund to compensate depositors’ losses resulting from restructuring.
04/09/2020
Covid-19 impact on UAE courts and arbitration
Technology has been widely used to mitigate the impact of the global pandemic on the UAE's onshore courts, DIFC Courts, ADGM Courts and arbitration centres
04/09/2020
Dentons plays key role in Oman solar project finance deal
This is a landmark project as it is the largest renewables project in Oman and will be the first renewables IPP for AIIB in the region, with a consortium of international and regional banks also participating.
04/09/2020
DFSA Takes Measures to Support its Financial Community
The DFSA stands ready to consider any reasonable requests for regulatory relief and DFSA staff are available to answer any questions.
04/09/2020
UAE banks increasing aggression towards debtors during Coronavirus crisis
Most people contacting us have taken a loan or credit card in good faith and serviced the loan for years, never missing payments.
04/08/2020
Qatar to sell triple-tranche dollar bonds amid low oil prices -sources
The bond sale's success will depend on the pricing, which will determine investor appetite for a deal.
04/08/2020
KPMG recommends steps to bolster cybersecurity in the COVID-19 era
Hackers are jumping on the COVID-19 pandemic to exploit global uncertainty