03/05/2020
UAE central bank cuts interest rates by 50 bps
The UAE central bank said its repo rate for borrowing short-term liquidity had also been cut by 50 bps.
Legal, Tax, Regulation & Compliance
03/05/2020
Bahrain central bank cuts key rate by 50 bps
It also cut the overnight deposit rate to 1.5% from 2%
03/05/2020
Middle East: Banking in an age of conflict
War and revolution have shaped the Middle East’s recent history and have left their mark on the banking sector.
03/05/2020
IMF deal seen as only way out for Lebanon
As Lebanon's financial crisis drags on and government revenues dwindle, the bill to rescue the country is rising.
03/05/2020
UBF launches committees to promote growth of the UAE banking sector
The launch of the Fintech Committee and Consumer Protection Committee increases the number of federation’s technical committees to 22.
03/05/2020
Middle East shares decline
The UAE's largest lender traded ex-dividend.
03/04/2020
UAE lowers interest rates in line with US move
Rates applied to issuance of Certificates of Deposits drops 50 basis points
03/04/2020
Sharia council issues fatwa on coronavirus
Senior citizens, minors and those suffering from respiratory diseases are allowed not to attend congregational prayers
03/04/2020
UAE rules out any VAT increase
Assessment of VAT impact requires data of three to five years, says minister
03/04/2020
Bahrain brings charges in vast money laundering case linked to Iranian state-owned banks
Further investigations found the bank, acting under the direction of Bank Saderat and Bank Melli, to have executed thousands of international financial transactions worth $7 billion while concealing the involvement of Iranian entities.
03/04/2020
Bumpy road ahead for UAE banks chasing Indian debtors despite new legal deal
Recovering billions from loan defaulters no cakewalk even after new civil procedure
03/03/2020
DFSA launch DFSA Cyber Threat Intelligence Platform
The Platform is hosted by the DFSA and is managed and operated by an independent consultant.
03/03/2020
DFSA strengthens relationship with Isle of Man Financial Services Authority
Collaboration is crucial in enabling the DFSA to maintain the integrity, efficiency and financial stability of the Financial Services industry in the Dubai International Financial Centre.
03/03/2020
Saudi's Fawaz Abudulaziz Alhokair secures $800mln Islamic finance
The new facility is composed of two tranches, including a $650mln Murabaha and a $150mln revolving standby credit facility
03/03/2020
UAE central bank to revise 2020 growth forecast due to coronavirus
The International Monetary Fund last year had forecast 2020 growth of 2.5% for the United Arab Emirates.
03/02/2020
UAE central bank recommends measures to mitigate coronavirus impact
The country is a regional business hub and major transit point for passengers travelling to China and other destinations in Asia.
03/02/2020
Edamah signs property management agreement with Bahrain development bank to manage and operate Sitra mall
The signing ceremony was held in the presence of Edamah's Chief Executive Officer (CEO) Mr. Amin Alarrayed and the CEO of Bahrain Development Bank Group, Mr. Sanjeev Paul.
03/02/2020
Abu Dhabi Finance, Beehive enter landmark lending partnership
Partnership aims to further support SMEs
03/02/2020
Proactive measures helped stabilise economy post-blockade: QCB Governor
These initiatives revived the economy and ensured more private-sector participation in the overall development of the economy.
03/02/2020
Lebanon’s banks plead for a no default
Bond repayments are due and yet the government seems no closer to finding a solution