07/25/2019
CBK Gov. sees higher bank profitability amid economic improvement
Financial buffers help the government adopt a countercyclical fiscal policy, increasing public sector wage bill will make the future path less sustainable.
Legal, Tax, Regulation & Compliance
07/25/2019
State fund sells Gulf Bank stake
KIA still owns stakes in other banks, including a 24 percent stake in Kuwait Finance House and a 19.2 percent stake in Bank of Bahrain and Kuwait.
07/24/2019
ADGM and OneConnect collaborate on FinTech development, innovation
Building connectivity and partnerships with key stakeholders such as OneConnect will help Mena FinTech participants tap opportunities in the Belt and Road corridor, and develop deep digital capabilities to accelerate the adoption and deployment of FinTech
07/24/2019
ESIC issues $600mln sukuk
Investor demand for the Sukuk was exceptionally strong
07/24/2019
Oman hires banks for dual-tranche dollar bond
The announcement comes after the small Gulf oil producer - bruised by a slump in energy prices over the past few yars - published encouraging deficit figures late last week, giving some respite to its debt investors.
07/23/2019
Kushner to finalise Middle East economic plan on tour of region
The official said the purpose of the trip is to "continue on the momentum that was created at the workshop in Bahrain and finalise the economic portion of the plan".
07/23/2019
Dubai Chamber holds dialogue on engaging young Emiratis
Bringing together representatives from government entities and private companies across the UAE, the activity formed part of efforts by Dubai Chamber – the organisation that represents Dubai’s business community - to support UAE Vision 2021
07/23/2019
Kuwait - Female bank manager jailed in fraud, money-laundering
An unknown person assisted her in forging official documents from the bank, which she used for the transactions.
07/23/2019
Financial stability forum opens in Amman
Such challenges, he added, need to be addressed by strengthening the banking sector's ability to withstand risks and absorb shocks, applying sound corporate governance rules, activating the role of risk departments, enhancing compliance with local an
07/23/2019
UAE, China ink several pacts to boost cooperation
The Abu Dhabi Global Development Market, ADGM, and the China National Nuclear Corporation, CNNC, signed a cooperation agreement to facilitate Belt and Road initiatives in the UAE and MENA region, and help grow CNNC's globalization plans.
07/22/2019
Kuwaiti duo acquitted in KD 13 mln money-laundering case
Meanwhile, the defendant's lawyer, Attorney Ali Al-Wawan, argued that the court summon did not show allegation that his client made the plaintiffs sign any document to indicate payment of interests on top of the loans taken.
07/22/2019
ADIB and Al Baraka Banking Group sign MoU to expand network
The MoU was signed by Mazin Manna, CEO of ADIB, and Adnan Ahmed Yousif, President & Chief Executive of Al Baraka Banking Group, at ADIB's HQ
07/22/2019
Ken Costa looks to Saudi Arabia for next big deal
Former Lazard banker with strong Gulf links is not ready to retire just yet
07/22/2019
ADIB and Al Baraka sign MoU to expand network
Mazin Manna, Group CEO of ADIB, said: “Partnering with Al Baraka is closely aligned to our overall strategy of bringing value-add services to customers which can enhance their banking experience."
07/22/2019
DIFC's new insolvency law to provide firms better survival chance
Law due to be enforced next month gives managers a greater say when attempting to steer firms out of trouble
07/22/2019
Abu Dhabi global market deepens financial collaborations and economic ties with key institutions in China
ADGM also entered a new agreement with OneConnect Financial Technology (a subsidiary of Ping An group) to foster greater cross-border FinTech opportunities in support of the Belt-and-Road initiative.
07/22/2019
The DFSA joins network for greening the financial system
Dubai Financial Services Authority announced that it is now a member of the Central Banks and Supervisors Network for Greening the Financial System
07/21/2019
Varley refuses to give witness statement in £1.5bn Barclays case
Bank denies claims of deceit made by Amanda Staveley’s PCP Capital
07/21/2019
IMA scam victims in UAE hopeful after MD’s arrest
Firm was launched in India in 2006 as Islamic banking and halal investment
07/19/2019
PM Imran Khan writes to UAE President Sheikh Khalifa
In December 2018, UAE officially announced that it would assist Pakistan to help it overcome international payment crisis and to avoid the deal with the International Monetary Fund, which contained strict terms and conditions.