02/14/2020
Bahrain brings charges in vast money laundering case linked to Iranian state-owned banks
Billions of dollars were funneled through Future Bank, which was controlled by Iran’s Bank Saderat and Bank Melli
Legal, Tax, Regulation & Compliance
02/14/2020
Kuwait banks can withstand challenges – CBK confident
The banking sector, based on CBK’s policies, continues its service of the national economy with high efficiency,” to ultimately contribute to addressing the state budget deficit.
02/14/2020
Kuwaitis, expats borrowed 1.57 billion dinars in 2019
Credit by Kuwaiti banks witness 4.3% jump
02/14/2020
Bahrain brings charges in vast money laundering case linked to Iranian state-owned banks
The defendants are charged with multiple offences under Bahrain’s anti-money laundering and banking laws, the state Bahrain News Agency reported.
02/13/2020
Discover Increases Acceptance in Oman
National Bank of Oman Helps Grow Discover Global Network Acceptance at Key Merchants
02/13/2020
Bahrain Bourse issues resolution to list T-Bills and sukuk
According to the resolution, 58 Treasury Bills and 10 short-term Islamic lease sukuk issues will be listed during the year 2020 unless stated otherwise
02/13/2020
Deloitte Showcases Latest In AI Technology In Dubai
The Experience Analytics is a full day highly immersive event, and guests had the opportunity to experience the latest innovations, assets, and insights.
02/13/2020
Qatar bans cryptocurrencies after updating its AML laws
Following Qatar’s AML regulatory updates, the Qatar Financial Center Regulatory Authority via twitter announced that all services involving cryptocurrencies have been banned throughout the Qatar Financial Center until further notice.
02/13/2020
UAE bank fined $600k over money laundering risk
The transactions were made over the counter at Abu Dhabi Commercial Bank’s UAE branches
02/12/2020
SAMA proposes the Draft Rules governing Bancassurance Activities for Public Consultation
Bancassurance Rules have a substantial role in raising the demand and awareness of saving products by promoting the disruption of insurance products in isolated ar
02/12/2020
Emiratisation in the UAE
These initiatives serve to underscore the continued investment placed on Emiratisation in the UAE and ensuring adequate representation of UAE nationals across the public and private spectrum.
02/12/2020
$450 Million Superyacht in Divorce Case Freed to Leave Dubai
Dubai Court dismisses attempt to enforce U.K. Akhmedov order
02/12/2020
Government initiatives to regulate supply set to support Dubai's real estate market in year of Expo
Residential: Continuous Government support and initiatives to bolster residential market
02/12/2020
DIFC Welcomes Maybank
Currently, Maybank Islamic joins more than 2,300 active registered companies that have chosen the DIFC as their preferred location of choice
02/11/2020
Egypt- Fawry, Banque Misr launch digital loyalty programme
'Egyptian banks are adopting serious fruitful ongoing steps in the comprehensive transformation of digitisation, 'internet banking', 'electronic payment', 'mobile wallets', and others of tools for the integration of tech
02/11/2020
Oman: Measures to encourage foreign investment
The authorities have started evaluating foreign investments for approval in setting up 100% foreign-owned companies in Oman under the new Foreign Capital Investment Law (RD 50/2019).
02/11/2020
Tax exemptions granted for UAE sovereign infrastructure investments in India
In the future, other sectors may be identified for tax exemptions by the Indian government.
02/11/2020
Shuaa Capital completes sale of its securities and market-making businesses
Deal valued at Dh100m comes as company focuses on selling non-core assets
02/11/2020
CBB warns against dealing with unlicensed financial institutions
The CBB also called upon consumers to ensure utmost care and caution
02/10/2020
Fintechs receive Saudi banking licenses for the first time
The new licences continue SAMA’s efforts to further its financial sector development programme.