03/04/2020
UAE lowers interest rates in line with US move
Rates applied to issuance of Certificates of Deposits drops 50 basis points
Legal, Tax, Regulation & Compliance
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
02/28/2020
QCB commits to modern regulatory environment to support market stability, innovation
This is because of its greater role in transforming the banking sector from its conventional channels to digital alternatives in banking.
02/28/2020
Central Bank of Kuwait urges use of ATM cards
The CBK urged the customers to cooperate and comply with the banking instructions.
02/28/2020
UAE national banks invested Dhs10.4bn in January
Emirati banks received approximately 89.8 per cent of the total investments
02/28/2020
Islamic finance in Qatar is witnessing 'unprecedented' expansion, says al-Kuwari
The financial sector in general and Islamic finance in particular remains one of the main pillars of the national economy as the country further strengthens its economic diversification strategy.
02/27/2020
Claims worth Dhs3.1bn filed in Dubai’s DIFC Courts in 2019
The number of enforcement cases also rose 35 per cent to 251 with a total claim amount of Dhs2.6bn
02/27/2020
DIFC signs MoU with Singapore blockchain accelerator
The agreement follows DIFC Authority and DIFC FinTech Hive's recent participation during the Singapore FinTech Festival